Clear Harbor Asset Management LLC Acquires New Position in Royal Gold, Inc. $RGLD

Clear Harbor Asset Management LLC bought a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,425 shares of the basic materials company’s stock, valued at approximately $1,083,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in shares of Royal Gold by 99.5% during the first quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company’s stock worth $27,608,000 after acquiring an additional 84,206 shares during the period. Focus Partners Wealth raised its stake in shares of Royal Gold by 51.5% in the first quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company’s stock valued at $1,384,000 after acquiring an additional 2,876 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Royal Gold by 28.9% in the second quarter. Brown Advisory Inc. now owns 3,551 shares of the basic materials company’s stock valued at $631,000 after acquiring an additional 796 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in Royal Gold by 43.0% in the second quarter. Qube Research & Technologies Ltd now owns 188,247 shares of the basic materials company’s stock valued at $33,478,000 after purchasing an additional 56,621 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in Royal Gold by 4.6% in the second quarter. NewEdge Advisors LLC now owns 24,551 shares of the basic materials company’s stock valued at $4,366,000 after purchasing an additional 1,072 shares during the period. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Royal Gold Price Performance

Royal Gold stock opened at $259.01 on Friday. The stock has a market cap of $21.95 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 1.95 and a beta of 0.44. The company has a fifty day simple moving average of $210.17 and a 200-day simple moving average of $236.60. Royal Gold, Inc. has a 12-month low of $168.88 and a 12-month high of $306.25. The company has a current ratio of 2.92, a quick ratio of 2.68 and a debt-to-equity ratio of 0.05.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its 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. The firm had revenue of $468.98 million during the quarter, compared to the consensus estimate of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The company’s revenue was up 114.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.81 earnings per share. Equities analysts expect that Royal Gold, Inc. will post 10.32 EPS for the current fiscal year.

Royal Gold Announces Dividend

The firm also recently disclosed 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. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, October 2nd. Royal Gold’s dividend payout ratio is currently 20.74%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RGLD. Scotiabank restated a “sector perform” rating and set a $310.00 price target on shares of Royal Gold in a report on Tuesday, July 14th. Royal Bank Of Canada reduced their price target on Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Zacks Research cut Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Jefferies Financial Group lowered their price objective on Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Finally, UBS Group upped their target price on shares of Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $285.10.

Insider Activity

In other news, SVP Randy Shefman sold 500 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $215.85, for a total value of $107,925.00. Following the transaction, the senior vice president owned 8,582 shares in the company, valued at approximately $1,852,424.70. This represents a 5.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.35% 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.