Royal Gold, Inc. $RGLD Stock Holdings Raised by CI Investments Inc.

CI Investments Inc. grew its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,948 shares of the basic materials company’s stock after purchasing an additional 3,151 shares during the quarter. CI Investments Inc.’s holdings in Royal Gold were worth $10,019,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Caldwell Trust Co bought a new stake in Royal Gold in the second quarter valued at about $36,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Royal Gold by 33.9% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 221 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 56 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of Royal Gold in the 3rd quarter valued at approximately $50,000. Spire Wealth Management bought a new stake in shares of Royal Gold in the 3rd quarter valued at approximately $64,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Royal Gold by 248.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 321 shares of the basic materials company’s stock valued at $64,000 after acquiring an additional 229 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RGLD has been the subject of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Gold in a report on Thursday, January 22nd. Canadian Imperial Bank of Commerce restated a “neutral” rating and issued a $330.00 price target on shares of Royal Gold in a research report on Wednesday, February 4th. TD Cowen lifted their price target on shares of Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Zacks Research lowered shares of Royal Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Raymond James Financial set a $264.00 target price on shares of Royal Gold in a report on Thursday, November 6th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.50.

Royal Gold Stock Down 7.7%

Royal Gold stock opened at $280.99 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.91 and a current ratio of 3.12. Royal Gold, Inc. has a one year low of $146.88 and a one year high of $306.25. The company has a 50-day simple moving average of $266.01 and a 200-day simple moving average of $218.05. The firm has a market capitalization of $23.83 billion, a P/E ratio of 41.26, a P/E/G ratio of 1.83 and a beta of 0.48.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.76). Royal Gold had a net margin of 45.26% and a return on equity of 11.89%. The firm had revenue of $360.85 million during the quarter, compared to the consensus estimate of $425.47 million. During the same quarter in the prior year, the business earned $1.63 earnings per share. The company’s revenue for the quarter was up 85.2% compared to the same quarter last year. As a group, equities analysts expect that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.475 per share. The ex-dividend date is Thursday, April 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. Royal Gold’s payout ratio is currently 27.90%.

Insider Buying and Selling

In related news, Director William M. Hayes sold 4,173 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $277.07, for a total value of $1,156,213.11. Following the sale, the director directly owned 6,129 shares in the company, valued at $1,698,162.03. This trade represents a 40.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Daniel Breeze sold 1,400 shares of Royal Gold stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $300.87, for a total value of $421,218.00. Following the sale, the senior vice president directly owned 20,140 shares in the company, valued at $6,059,521.80. The trade was a 6.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.49% of the company’s stock.

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.