Arrowstreet Capital Limited Partnership Grows Stake in Royal Gold, Inc. $RGLD

Arrowstreet Capital Limited Partnership lifted its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 89.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,855,877 shares of the basic materials company’s stock after buying an additional 874,329 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Royal Gold were worth $412,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Elyxium Wealth LLC purchased a new position in Royal Gold during the fourth quarter valued at $27,000. Gen Wealth Partners Inc purchased a new position in Royal Gold during the fourth quarter valued at $27,000. Trust Co. of Toledo NA OH purchased a new position in Royal Gold during the fourth quarter valued at $30,000. V Square Quantitative Management LLC purchased a new position in Royal Gold during the fourth quarter valued at $30,000. Finally, Bank & Trust Co lifted its position in Royal Gold by 600.0% during the fourth quarter. Bank & Trust Co now owns 140 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 120 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Royal Gold

In other news, SVP Randy Shefman sold 1,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $243.74, for a total value of $243,740.00. Following the transaction, the senior vice president directly owned 9,082 shares in the company, valued at $2,213,646.68. The trade was a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. National Bank Financial lowered their target price on Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. UBS Group set a $325.00 target price on Royal Gold and gave the company a “buy” rating in a research report on Wednesday, April 15th. Weiss Ratings downgraded Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday. Finally, Zacks Research downgraded Royal Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Royal Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.70.

Royal Gold Price Performance

Shares of Royal Gold stock opened at $207.57 on Friday. The stock’s 50-day simple moving average is $237.29 and its 200-day simple moving average is $245.35. Royal Gold, Inc. has a 52 week low of $150.75 and a 52 week high of $306.25. The company has a market capitalization of $17.62 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 1.54 and a beta of 0.41. The company has a quick ratio of 3.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.08.

Royal Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Thursday, July 2nd will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, July 2nd. Royal Gold’s payout ratio is presently 22.65%.

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.