Neuberger Berman Group LLC Raises Position in Royal Gold, Inc. $RGLD

Neuberger Berman Group LLC boosted its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 22.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,050 shares of the basic materials company’s stock after purchasing an additional 25,187 shares during the period. Neuberger Berman Group LLC owned about 0.21% of Royal Gold worth $27,056,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caldwell Trust Co purchased a new position in shares of Royal Gold during the 2nd quarter valued at $36,000. MassMutual Private Wealth & Trust FSB raised its stake in Royal Gold by 33.9% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 221 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 56 shares during the period. Compagnie Lombard Odier SCmA bought a new stake in Royal Gold in the 3rd quarter valued at about $50,000. Spire Wealth Management purchased a new stake in Royal Gold during the third quarter valued at about $64,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Royal Gold by 248.9% during the third quarter. Smartleaf Asset Management LLC now owns 321 shares of the basic materials company’s stock valued at $64,000 after purchasing an additional 229 shares during the last quarter. 83.65% of the stock is owned by institutional investors.

Insider Activity

In other Royal Gold news, Director William M. Hayes sold 4,173 shares of the company’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $277.07, for a total value of $1,156,213.11. Following the transaction, the director directly owned 6,129 shares in the company, valued at $1,698,162.03. This represents a 40.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Daniel Breeze sold 1,400 shares of Royal Gold stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $300.87, for a total value of $421,218.00. Following the sale, the senior vice president owned 20,140 shares of the company’s stock, valued at approximately $6,059,521.80. This trade represents a 6.50% decrease in their position. The SEC filing for this sale provides additional information. 0.49% of the stock is owned by insiders.

Royal Gold Price Performance

Shares of NASDAQ:RGLD opened at $279.84 on Friday. The company has a 50 day moving average of $268.78 and a 200 day moving average of $220.02. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.12. The stock has a market cap of $23.73 billion, a P/E ratio of 41.09, a P/E/G ratio of 1.69 and a beta of 0.48. Royal Gold, Inc. has a 12 month low of $149.66 and a 12 month high of $306.25.

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

Royal Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 2nd will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.90 annualized dividend and a yield of 0.7%. Royal Gold’s dividend payout ratio (DPR) is currently 27.90%.

Wall Street Analyst Weigh In

RGLD has been the subject of several recent research reports. Zacks Research downgraded shares of Royal Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Scotiabank downgraded shares of Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 price objective for the company. in a report on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating and issued a $330.00 price objective on shares of Royal Gold in a research note on Wednesday, February 4th. TD Cowen boosted their target price on shares of Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Finally, Jefferies Financial Group restated a “buy” rating and set a $270.00 target price on shares of Royal Gold in a research report on Sunday, December 7th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $251.50.

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.