Oxbow Advisors LLC Purchases Shares of 64,087 Royal Gold, Inc. $RGLD

Oxbow Advisors LLC purchased a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 64,087 shares of the basic materials company’s stock, valued at approximately $12,792,000. Royal Gold comprises about 1.0% of Oxbow Advisors LLC’s portfolio, making the stock its 17th biggest position. Oxbow Advisors LLC owned about 0.08% of Royal Gold at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wealthfront Advisers LLC acquired a new position in shares of Royal Gold in the 2nd quarter valued at about $440,000. First National Bank of Omaha purchased a new stake in shares of Royal Gold during the 2nd quarter worth about $606,000. K2 Principal Fund L.P. acquired a new stake in Royal Gold during the 2nd quarter worth approximately $2,121,000. Meeder Asset Management Inc. acquired a new stake in Royal Gold during the 2nd quarter worth approximately $5,319,000. Finally, Tiemann Investment Advisors LLC purchased a new position in Royal Gold in the second quarter valued at approximately $922,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Royal Gold Stock Performance

Royal Gold stock opened at $230.43 on Wednesday. The firm has a market capitalization of $19.52 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.74 and a beta of 0.44. Royal Gold, Inc. has a one year low of $166.51 and a one year high of $306.25. The stock’s 50 day moving average price is $207.17 and its 200 day moving average price is $236.83. 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 issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. Royal Gold’s revenue for the quarter was up 114.9% on a year-over-year basis. During the same quarter last year, the company earned $1.81 earnings per share. As a group, sell-side analysts expect that Royal Gold, Inc. will post 10.33 EPS for the current fiscal year.

Royal Gold Announces Dividend

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

Wall Street Analysts Forecast Growth

RGLD has been the topic of a number of recent research reports. Zacks Research cut shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Jefferies Financial Group dropped their price objective on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Scotiabank reissued a “sector perform” rating and issued a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. UBS Group lifted their target price on shares of Royal Gold from $280.00 to $285.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Royal Bank Of Canada decreased their price target on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $285.10.

Insiders Place Their Bets

In related news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total transaction of $107,925.00. Following the completion of the sale, the senior vice president directly owned 8,582 shares of the company’s stock, valued at approximately $1,852,424.70. This trade represents a 5.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.35% of the company’s stock.

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.