Meeder Asset Management Inc. Buys Shares of 26,649 Royal Gold, Inc. $RGLD

Meeder Asset Management Inc. bought a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the second quarter, Holdings Channel reports. The institutional investor bought 26,649 shares of the basic materials company’s stock, valued at approximately $5,319,000.

Other large investors also recently modified their holdings of the company. Axiom Investment Management LLC acquired a new position in shares of Royal Gold in the 1st quarter valued at about $25,000. Elyxium Wealth LLC acquired a new stake in Royal Gold during the fourth quarter worth about $27,000. Gen Wealth Partners Inc acquired a new stake in Royal Gold during the fourth quarter worth about $27,000. Scarborough Advisors LLC bought a new position in Royal Gold in the first quarter worth about $32,000. Finally, Grove Bank & Trust lifted its holdings in Royal Gold by 88.6% in the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 62 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Randy Shefman sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $215.85, for a total transaction of $107,925.00. Following the completion of the transaction, the senior vice president directly owned 8,582 shares in the company, valued at approximately $1,852,424.70. The trade was a 5.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Royal Gold Stock Up 2.6%

RGLD stock opened at $236.62 on Tuesday. The stock has a market cap of $20.05 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.44. The firm’s 50-day simple moving average is $206.65 and its 200 day simple moving average is $237.32. Royal Gold, Inc. has a fifty-two week low of $166.51 and a fifty-two 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.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $468.98 million during the quarter, compared to analyst estimates of $458.85 million. During the same period in the previous year, the business posted $1.81 EPS. Royal Gold’s revenue was up 114.9% on a year-over-year basis. As a group, sell-side analysts predict that Royal Gold, Inc. will post 10.33 EPS for the current year.

Royal Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Thursday, July 2nd were issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 2nd. Royal Gold’s payout ratio is 20.74%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RGLD. Zacks Research downgraded Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Weiss Ratings cut Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Jefferies Financial Group cut their price target on Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Scotiabank restated a “sector perform” rating and set a $310.00 price objective on shares of Royal Gold in a research report on Tuesday, July 14th. Finally, UBS Group upped their price objective on Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $285.10.

Royal Gold Company Profile

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.