Allworth Financial LP Buys 5,088 Shares of Royal Gold, Inc. $RGLD

Allworth Financial LP raised its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 94.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,449 shares of the basic materials company’s stock after acquiring an additional 5,088 shares during the period. Allworth Financial LP’s holdings in Royal Gold were worth $2,086,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. California State Teachers Retirement System increased its position in shares of Royal Gold by 19,848.6% in the second quarter. California State Teachers Retirement System now owns 19,665,976 shares of the basic materials company’s stock worth $3,925,525,000 after purchasing an additional 19,567,393 shares during the period. BlackRock Inc. bought a new stake in Royal Gold during the second quarter worth about $2,177,865,000. Capital World Investors lifted its position in Royal Gold by 7.5% during the fourth quarter. Capital World Investors now owns 9,733,807 shares of the basic materials company’s stock worth $2,163,732,000 after purchasing an additional 678,732 shares during the period. Van ECK Associates Corp grew its stake in Royal Gold by 18.1% during the fourth quarter. Van ECK Associates Corp now owns 5,900,432 shares of the basic materials company’s stock worth $1,311,607,000 after buying an additional 905,488 shares in the last quarter. Finally, State Street Corp increased its holdings in Royal Gold by 11.9% in the 4th quarter. State Street Corp now owns 3,718,646 shares of the basic materials company’s stock valued at $826,618,000 after buying an additional 396,778 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on RGLD shares. Zacks Research raised shares of Royal Gold from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Jefferies Financial Group reduced their target price on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a report on Monday, July 6th. TD raised their price target on shares of Royal Gold from $289.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group boosted their price objective 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. Finally, Scotiabank reiterated a “sector perform” rating and set a $310.00 price target on shares of Royal Gold in a report on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Royal Gold has a consensus rating of “Moderate Buy” and an average target price of $287.82.

Royal Gold Stock Down 0.7%

RGLD stock opened at $252.28 on Friday. The stock has a fifty day moving average of $226.03 and a 200-day moving average of $235.24. Royal Gold, Inc. has a fifty-two week low of $168.88 and a fifty-two week high of $306.25. The company has a market capitalization of $21.38 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 1.91 and a beta of 0.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.01. The company had revenue of $468.98 million for the quarter, compared to analyst estimates of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The company’s quarterly 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. As a group, equities research analysts predict that Royal Gold, Inc. will post 10.26 earnings per share for the current year.

Royal Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 2nd will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, October 2nd. Royal Gold’s payout ratio is currently 20.74%.

Insider Buying and Selling

In other news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $262.80, for a total transaction of $131,400.00. Following the transaction, the senior vice president directly owned 8,082 shares of the company’s stock, valued at approximately $2,123,949.60. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

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 provides financing to mining companies in exchange for the right to purchase a portion of the metals produced from certain projects at predetermined prices, or to receive revenue-based payments tied to mineral production.

Royal Gold’s portfolio is organized into two primary businesses: streams and royalties. Its streaming agreements generally provide rights to purchase gold, silver, copper or other metals from mining operations, while its royalty interests entitle the company to a percentage of revenue or production from a mine without bearing the operator’s ongoing costs.