Royal Gold, Inc. $RGLD Shares Acquired by Global Strategic Management Inc.

Global Strategic Management Inc. increased its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 24.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 29,545 shares of the basic materials company’s stock after purchasing an additional 5,765 shares during the period. Royal Gold makes up 4.7% of Global Strategic Management Inc.’s investment portfolio, making the stock its 8th biggest position. Global Strategic Management Inc.’s holdings in Royal Gold were worth $6,981,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in Royal Gold in the second quarter valued at approximately $2,177,865,000. Bank of New York Mellon Corp purchased a new position in Royal Gold during the 2nd quarter worth $150,762,000. Findlay Park Partners LLP acquired a new stake in Royal Gold in the second quarter valued at about $111,392,000. Bank of America Corp DE purchased a new position in Royal Gold in the second quarter worth $88,124,000. Finally, Deutsche Bank AG acquired a new stake in shares of Royal Gold in the second quarter valued at about $69,325,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president directly owned 8,082 shares of the company’s stock, valued at $2,123,949.60. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.35% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. TD boosted their price objective on shares of Royal Gold from $289.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Jefferies Financial Group lowered their price target on Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a report on Monday, July 6th. Zacks Research upgraded Royal Gold from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Scotiabank reaffirmed a “sector perform” rating and set a $310.00 price target on shares of Royal Gold in a research report on Tuesday, July 14th. Finally, UBS Group increased their price objective on shares of Royal Gold from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Royal Gold has a consensus rating of “Moderate Buy” and a consensus target price of $298.30.

Royal Gold Trading Up 3.6%

Royal Gold stock opened at $233.00 on Friday. Royal Gold, Inc. has a 52-week low of $168.88 and a 52-week high of $306.25. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $19.74 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.69 and a beta of 0.45. The firm has a 50-day moving average price of $246.45 and a two-hundred day moving average price of $231.26.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly 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. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The company had revenue of $468.98 million for the quarter, compared to the consensus estimate of $458.85 million. During the same period in the previous year, the firm earned $1.81 EPS. Royal Gold’s revenue was up 114.9% on a year-over-year basis. Sell-side analysts expect that Royal Gold, Inc. will post 10.30 earnings per share for the current year.

Royal Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be issued a dividend of $0.4750 per share. This represents a $1.90 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, October 2nd. Royal Gold’s dividend payout ratio (DPR) is presently 20.74%.

About Royal Gold

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. Rather than operating mines directly, the company finances mining projects and acquires interests that provide rights to purchase a portion of the metals produced from those operations or to receive royalty payments based on mine revenue.

Royal Gold’s portfolio is primarily focused on gold, with additional exposure to silver, copper and other metals. Its interests include streaming agreements and royalties associated with projects such as Pueblo Viejo in the Dominican Republic and Mount Milligan in British Columbia, Canada.