88,088 Shares in Royal Gold, Inc. $RGLD Purchased by Muhlenkamp & Co. Inc.

Muhlenkamp & Co. Inc. acquired a new position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 88,088 shares of the basic materials company’s stock, valued at approximately $17,583,000. Royal Gold accounts for 5.1% of Muhlenkamp & Co. Inc.’s holdings, making the stock its 10th largest holding. Muhlenkamp & Co. Inc. owned 0.10% of Royal Gold at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RGLD. BlackRock Inc. purchased a new position in shares of Royal Gold in the 2nd quarter valued at approximately $2,177,865,000. Capital International Investors bought a new stake in shares of Royal Gold during the fourth quarter valued at approximately $332,026,000. Van ECK Associates Corp grew its stake in Royal Gold by 18.1% in the fourth quarter. Van ECK Associates Corp now owns 5,900,432 shares of the basic materials company’s stock worth $1,311,607,000 after purchasing an additional 905,488 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Royal Gold by 89.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,855,877 shares of the basic materials company’s stock worth $412,543,000 after purchasing an additional 874,329 shares during the period. Finally, Nuveen LLC raised its holdings in Royal Gold by 457.5% in the fourth quarter. Nuveen LLC now owns 925,906 shares of the basic materials company’s stock worth $205,820,000 after purchasing an additional 759,810 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Royal Gold Trading Down 2.3%

NASDAQ RGLD opened at $262.85 on Friday. Royal Gold, Inc. has a 12 month low of $168.88 and a 12 month high of $306.25. The company has a current ratio of 2.92, a quick ratio of 2.68 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average price is $215.06 and its 200-day moving average price is $236.73. The stock has a market cap of $22.27 billion, a P/E ratio of 28.70, a P/E/G ratio of 2.02 and a beta of 0.44.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.01. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.The firm had revenue of $468.98 million during the quarter, compared to analyst estimates of $458.85 million. During the same quarter in the previous year, the firm earned $1.81 EPS. Royal Gold’s quarterly revenue was up 114.9% compared to the same quarter last year. As a group, equities analysts forecast that Royal Gold, Inc. will post 10.26 EPS for the current fiscal year.

Royal Gold Dividend Announcement

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. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, October 2nd. Royal Gold’s dividend payout ratio is currently 20.74%.

Insider Activity at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $262.80, for a total transaction of $131,400.00. Following the completion of the sale, the senior vice president owned 8,082 shares of the company’s stock, valued at $2,123,949.60. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on RGLD shares. Royal Bank Of Canada dropped their target price on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Weiss Ratings lowered shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Jefferies Financial Group lowered their price target 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. Zacks Research lowered shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Finally, UBS Group upped their price objective on shares of Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Royal Gold currently has a consensus rating of “Hold” and an average price target of $285.10.

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.