K2 Principal Fund L.P. Makes New $2.36 Million Investment in Royal Gold, Inc. $RGLD

K2 Principal Fund L.P. purchased a new position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,625 shares of the basic materials company’s stock, valued at approximately $2,362,000.

Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC lifted its stake in Royal Gold by 52.8% in the 4th quarter. SG Americas Securities LLC now owns 17,671 shares of the basic materials company’s stock worth $3,928,000 after purchasing an additional 6,109 shares in the last quarter. Louisbourg Investments Inc. purchased a new stake in shares of Royal Gold during the 4th quarter valued at about $3,938,000. Prospera Financial Services Inc purchased a new stake in shares of Royal Gold during the 3rd quarter valued at about $1,068,000. Plancorp LLC raised its position in shares of Royal Gold by 69.8% during the 4th quarter. Plancorp LLC now owns 13,732 shares of the basic materials company’s stock valued at $3,053,000 after buying an additional 5,646 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of Royal Gold by 22.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 135,050 shares of the basic materials company’s stock valued at $27,056,000 after buying an additional 25,187 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Royal Gold Stock Performance

Royal Gold stock opened at $207.57 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.52 and a quick ratio of 3.26. Royal Gold, Inc. has a 1-year low of $150.75 and a 1-year high of $306.25. The firm has a market capitalization of $17.62 billion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 1.54 and a beta of 0.41. The company’s 50-day moving average is $237.29 and its 200 day moving average is $245.35.

Royal Gold Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, SVP Randy Shefman sold 1,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $243.74, for a total value of $243,740.00. Following the sale, the senior vice president directly owned 9,082 shares of the company’s stock, valued at $2,213,646.68. This represents a 9.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by company insiders.

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.