29,621 Shares in Royal Gold, Inc. $RGLD Bought by Man Group plc

Man Group plc acquired a new position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 29,621 shares of the basic materials company’s stock, valued at approximately $5,913,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Royal Gold during the second quarter valued at about $2,177,865,000. Capital International Investors acquired a new position in shares of Royal Gold in the fourth quarter worth about $332,026,000. Van ECK Associates Corp boosted its holdings in Royal Gold by 18.1% in the fourth quarter. Van ECK Associates Corp now owns 5,900,432 shares of the basic materials company’s stock valued at $1,311,607,000 after purchasing an additional 905,488 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Royal Gold by 89.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,855,877 shares of the basic materials company’s stock valued at $412,543,000 after purchasing an additional 874,329 shares during the last quarter. Finally, Nuveen LLC grew its stake in Royal Gold by 457.5% during the 4th quarter. Nuveen LLC now owns 925,906 shares of the basic materials company’s stock valued at $205,820,000 after purchasing an additional 759,810 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RGLD has been the topic of several analyst reports. UBS Group lifted their price objective on 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 set a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. Zacks Research downgraded shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Jefferies Financial Group dropped their price target on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, Weiss Ratings cut shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 4th. Seven equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $285.10.

Insider Activity

In related news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $262.80, for a total transaction of $131,400.00. Following the sale, the senior vice president directly owned 8,082 shares of the company’s stock, valued at approximately $2,123,949.60. This represents a 5.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Royal Gold Stock Performance

Shares of RGLD stock opened at $262.85 on Friday. The stock has a market capitalization of $22.27 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 1.98 and a beta of 0.44. Royal Gold, Inc. has a one year low of $168.88 and a one year high of $306.25. The company’s 50-day simple moving average is $215.06 and its 200-day simple moving average is $236.73. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.01. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.The firm had revenue of $468.98 million for the quarter, compared to analysts’ expectations of $458.85 million. During the same quarter in the prior year, the firm posted $1.81 earnings per share. Royal Gold’s revenue for the quarter was up 114.9% compared to the same quarter last year. Equities analysts anticipate that Royal Gold, Inc. will post 10.26 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, October 2nd. Royal Gold’s payout ratio is 20.74%.

About Royal Gold

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.