L2 Asset Management LLC Buys 3,247 Shares of Royal Gold, Inc. $RGLD

L2 Asset Management LLC lifted its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 105.8% in the 4th quarter, Holdings Channel reports. The fund owned 6,316 shares of the basic materials company’s stock after acquiring an additional 3,247 shares during the quarter. L2 Asset Management LLC’s holdings in Royal Gold were worth $1,404,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Capital World Investors increased its position in shares of 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 acquiring an additional 678,732 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Royal Gold by 25.0% during the fourth quarter. Vanguard Group Inc. now owns 8,398,944 shares of the basic materials company’s stock worth $1,867,001,000 after acquiring an additional 1,681,577 shares in the last quarter. Van ECK Associates Corp boosted its position in Royal Gold by 18.1% during the 4th quarter. Van ECK Associates Corp now owns 5,900,432 shares of the basic materials company’s stock worth $1,311,607,000 after acquiring an additional 905,488 shares during the last quarter. State Street Corp boosted its position in Royal Gold by 11.9% during the 4th quarter. State Street Corp now owns 3,718,646 shares of the basic materials company’s stock worth $826,618,000 after acquiring an additional 396,778 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Royal Gold by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,952,363 shares of the basic materials company’s stock worth $434,063,000 after acquiring an additional 78,344 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

Insider Activity at Royal Gold

In other news, SVP Randy Shefman sold 1,000 shares of Royal Gold 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 completion of the transaction, the senior vice president owned 9,082 shares of the company’s stock, valued at $2,213,646.68. This trade represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RGLD shares. Weiss Ratings downgraded Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday. 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. National Bank Financial decreased their target price on shares of Royal Gold from $350.00 to $340.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Finally, Zacks Research downgraded shares of 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 issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $280.70.

Royal Gold Stock Up 3.8%

Royal Gold stock opened at $215.52 on Tuesday. The company has a market cap of $18.29 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 1.54 and a beta of 0.42. Royal Gold, Inc. has a 1-year low of $150.75 and a 1-year high of $306.25. The company has a fifty day simple moving average of $236.35 and a 200 day simple moving average of $245.90. The company has a current ratio of 3.52, a quick ratio of 3.26 and a debt-to-equity ratio of 0.08.

Royal Gold Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, July 2nd. Royal Gold’s dividend payout ratio (DPR) is 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.