First Commonwealth Financial Corp PA Purchases New Shares in Royal Gold, Inc. $RGLD

First Commonwealth Financial Corp PA bought a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,512 shares of the basic materials company’s stock, valued at approximately $704,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RGLD. Caldwell Trust Co bought a new position in Royal Gold during the second quarter worth about $36,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Royal Gold by 33.9% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 221 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 56 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of Royal Gold during the 3rd quarter valued at $50,000. Spire Wealth Management purchased a new stake in Royal Gold during the 3rd quarter worth about $64,000. Finally, Smartleaf Asset Management LLC boosted its stake in Royal Gold by 248.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 321 shares of the basic materials company’s stock worth $64,000 after purchasing an additional 229 shares during the period. Institutional investors own 83.65% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce reiterated a “neutral” rating and set a $330.00 price target on shares of Royal Gold in a research report on Wednesday, February 4th. TD Cowen raised their price objective on shares of Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Zacks Research cut shares of Royal Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Gold in a report on Thursday, January 22nd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $270.00 target price on shares of Royal Gold in a research note on Sunday, December 7th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.50.

Royal Gold Price Performance

Shares of NASDAQ RGLD opened at $259.11 on Monday. The stock’s 50-day simple moving average is $273.83 and its two-hundred day simple moving average is $223.80. Royal Gold, Inc. has a twelve month low of $150.75 and a twelve month high of $306.25. The firm has a market capitalization of $21.98 billion, a P/E ratio of 38.05, a P/E/G ratio of 1.56 and a beta of 0.47. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.12.

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

Royal Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders 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 yield of 0.7%. Royal Gold’s payout ratio is presently 27.90%.

Insiders Place Their Bets

In other news, Director William M. Hayes sold 4,173 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $277.07, for a total transaction of $1,156,213.11. Following the sale, the director owned 6,129 shares in the company, valued at approximately $1,698,162.03. This trade represents a 40.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark Isto sold 2,000 shares of Royal Gold stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $274.83, for a total transaction of $549,660.00. Following the sale, the director directly owned 20,043 shares of the company’s stock, valued at $5,508,417.69. This represents a 9.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,573 shares of company stock valued at $2,127,091 in the last quarter. Corporate insiders own 0.49% of the company’s stock.

Royal Gold 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.