Meiji Yasuda Asset Management Co Ltd. Purchases New Position in Royal Gold, Inc. $RGLD

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 9,439 shares of the basic materials company’s stock, valued at approximately $1,884,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Axiom Investment Management LLC purchased a new stake in shares of Royal Gold in the first quarter worth approximately $25,000. Elyxium Wealth LLC bought a new position in shares of Royal Gold in the fourth quarter valued at approximately $27,000. Gen Wealth Partners Inc purchased a new position in shares of Royal Gold during the fourth quarter valued at approximately $27,000. Scarborough Advisors LLC purchased a new position in shares of Royal Gold during the first quarter valued at approximately $32,000. Finally, Grove Bank & Trust grew its holdings in Royal Gold by 88.6% during the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company’s stock worth $26,000 after buying an additional 62 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $215.85, for a total transaction of $107,925.00. Following the sale, the senior vice president directly owned 8,582 shares in the company, valued at $1,852,424.70. The trade was a 5.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Royal Gold Stock Performance

RGLD stock opened at $263.75 on Tuesday. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05. The firm has a market cap of $22.35 billion, a PE ratio of 28.79, a P/E/G ratio of 1.95 and a beta of 0.44. The business has a 50 day moving average of $211.14 and a 200-day moving average of $236.43. Royal Gold, Inc. has a 12-month low of $168.88 and a 12-month high of $306.25.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.01. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.The business had revenue of $468.98 million for the quarter, compared to analyst estimates of $458.85 million. During the same period last year, the company posted $1.81 earnings per share. Royal Gold’s quarterly revenue was up 114.9% compared to the same quarter last year. As a group, sell-side analysts expect that Royal Gold, Inc. will post 10.32 earnings per share for the current year.

Royal Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. Royal Gold’s dividend payout ratio (DPR) is currently 20.74%.

Wall Street Analyst Weigh In

A number of research firms recently commented on RGLD. Royal Bank Of Canada lowered their price target on Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. UBS Group lifted their price objective on shares of Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Scotiabank reiterated a “sector perform” rating and issued a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. Weiss Ratings downgraded shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 4th. Finally, Zacks Research lowered shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $285.10.

Royal Gold Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.