M&T Bank Corp grew its stake in Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 73.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,559 shares of the basic materials company’s stock after purchasing an additional 3,199 shares during the period. M&T Bank Corp’s holdings in Royal Gold were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CENTRAL TRUST Co boosted its position in Royal Gold by 375.0% during the second quarter. CENTRAL TRUST Co now owns 475 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 375 shares during the last quarter. Signaturefd LLC grew its position in shares of Royal Gold by 77.5% in the first quarter. Signaturefd LLC now owns 1,154 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 504 shares in the last quarter. Sandy Spring Bank increased its holdings in Royal Gold by 375.7% during the 2nd quarter. Sandy Spring Bank now owns 1,037 shares of the basic materials company’s stock worth $106,000 after acquiring an additional 819 shares during the period. Willingdon Wealth Management purchased a new position in Royal Gold during the second quarter worth about $122,000. Finally, Almanack Investment Partners LLC. purchased a new position in shares of Royal Gold during the second quarter worth about $143,000. Institutional investors own 78.86% of the company’s stock.

Shares of RGLD traded up $0.58 during mid-day trading on Wednesday, hitting $124.84. 14,225 shares of the company’s stock traded hands, compared to its average volume of 611,547. The company has a quick ratio of 4.26, a current ratio of 4.60 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $8.21 billion, a P/E ratio of 86.55, a PEG ratio of 4.84 and a beta of 0.16. The business’s 50-day moving average price is $126.03 and its 200-day moving average price is $101.28. Royal Gold, Inc has a 1 year low of $70.16 and a 1 year high of $138.78.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The business had revenue of $115.69 million during the quarter, compared to analysts’ expectations of $112.30 million. Royal Gold had a return on equity of 4.42% and a net margin of 22.18%. Sell-side analysts anticipate that Royal Gold, Inc will post 2.58 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.06 annualized dividend and a yield of 0.85%. Royal Gold’s dividend payout ratio (DPR) is presently 73.10%.

A number of equities research analysts have recently weighed in on RGLD shares. BidaskClub lowered shares of Royal Gold from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Raymond James lifted their target price on shares of Royal Gold from $107.00 to $111.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. TD Securities upped their price target on shares of Royal Gold from $110.00 to $130.00 and gave the company a “hold” rating in a report on Friday, August 9th. Barclays cut shares of Royal Gold from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $88.00 to $105.00 in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of Royal Gold in a report on Sunday, August 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Royal Gold currently has an average rating of “Hold” and a consensus price target of $111.93.

In related news, Director Ronald J. Vance sold 1,930 shares of Royal Gold stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $94.77, for a total transaction of $182,906.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Tony A. Jensen sold 46,570 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $124.59, for a total value of $5,802,156.30. The disclosure for this sale can be found here. Insiders sold a total of 89,533 shares of company stock valued at $11,290,614 over the last 90 days. Company insiders own 0.95% of the company’s stock.

About Royal Gold

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.

See Also: Cash Asset Ratio

Institutional Ownership by Quarter for Royal Gold (NASDAQ:RGLD)

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