Inscription Capital LLC acquired a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the second quarter, HoldingsChannel reports. The firm acquired 4,012 shares of the basic materials company’s stock, valued at approximately $458,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jump Financial LLC purchased a new stake in shares of Royal Gold in the second quarter valued at about $1,035,000. LPL Financial LLC boosted its holdings in shares of Royal Gold by 4.0% in the second quarter. LPL Financial LLC now owns 31,876 shares of the basic materials company’s stock valued at $3,637,000 after acquiring an additional 1,227 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Royal Gold by 11.1% in the second quarter. Stifel Financial Corp now owns 26,824 shares of the basic materials company’s stock valued at $3,061,000 after acquiring an additional 2,671 shares in the last quarter. Bridgewater Associates LP purchased a new stake in shares of Royal Gold in the second quarter valued at about $386,000. Finally, Liberty Wealth Management LLC boosted its holdings in shares of Royal Gold by 11,371.3% in the second quarter. Liberty Wealth Management LLC now owns 12,389 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 12,281 shares in the last quarter. Institutional investors own 79.30% of the company’s stock.
RGLD has been the topic of several analyst reports. TD Securities lowered their target price on shares of Royal Gold from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 13th. Royal Bank of Canada reissued an “outperform” rating and set a $117.21 price objective on shares of Royal Gold in a report on Monday, July 26th. BMO Capital Markets boosted their price objective on shares of Royal Gold from $138.00 to $145.00 and gave the stock a “market perform” rating in a report on Friday, August 13th. National Bank Financial decreased their price objective on shares of Royal Gold from C$160.00 to C$155.00 and set a “sector perform” rating on the stock in a report on Friday, September 10th. Finally, KeyCorp assumed coverage on shares of Royal Gold in a report on Friday, September 24th. They set a “sector weight” rating on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $140.32.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, August 11th. The basic materials company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. Royal Gold had a net margin of 49.12% and a return on equity of 9.79%. The company had revenue of $168.03 million for the quarter, compared to the consensus estimate of $168.85 million. As a group, equities research analysts expect that Royal Gold, Inc. will post 4.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Friday, October 1st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Thursday, September 30th. Royal Gold’s dividend payout ratio is presently 33.43%.
In related news, CFO Paul Libner sold 921 shares of the company’s stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $112.58, for a total transaction of $103,686.18. Following the completion of the transaction, the chief financial officer now owns 15,198 shares of the company’s stock, valued at $1,710,990.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Randy Shefman sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $111.19, for a total transaction of $111,190.00. Following the transaction, the vice president now directly owns 8,006 shares of the company’s stock, valued at approximately $890,187.14. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.
Royal Gold Profile
Royal Gold, Inc engages in the acquisition and management of metal streams, royalties, and similar interests. It operates through the following segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. The Acquisition and Management of Stream Interests segment involves in the purchase agreement that provides, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals.
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