Odyssean LLC Takes Position in Royal Gold, Inc. $RGLD

Odyssean LLC purchased a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,597 shares of the basic materials company’s stock, valued at approximately $518,000.

Several other hedge funds have also recently modified their holdings of RGLD. Goldman Sachs Group Inc. grew its position in Royal Gold by 99.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company’s stock valued at $27,608,000 after buying an additional 84,206 shares during the last quarter. Focus Partners Wealth raised its position in Royal Gold by 51.5% during the 1st quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company’s stock worth $1,384,000 after buying an additional 2,876 shares during the last quarter. Brown Advisory Inc. raised its position in Royal Gold by 28.9% during the 2nd quarter. Brown Advisory Inc. now owns 3,551 shares of the basic materials company’s stock worth $631,000 after buying an additional 796 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Royal Gold by 43.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 188,247 shares of the basic materials company’s stock worth $33,478,000 after acquiring an additional 56,621 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Royal Gold by 4.6% in the 2nd quarter. NewEdge Advisors LLC now owns 24,551 shares of the basic materials company’s stock worth $4,366,000 after acquiring an additional 1,072 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Scotiabank reiterated a “sector perform” rating and set a $310.00 price target on shares of Royal Gold in a research note on Tuesday, July 14th. Weiss Ratings downgraded shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Zacks Research lowered Royal Gold from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. UBS Group boosted their target price on Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Jefferies Financial Group cut their target price on Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $285.10.

Insider Activity

In other news, SVP Randy Shefman sold 500 shares of Royal Gold 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 directly owned 8,082 shares in the company, valued at approximately $2,123,949.60. This trade represents a 5.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Royal Gold Stock Performance

NASDAQ:RGLD opened at $262.11 on Friday. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05. Royal Gold, Inc. has a fifty-two week low of $168.88 and a fifty-two week high of $306.25. The stock has a market cap of $22.21 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 1.99 and a beta of 0.50. The firm’s fifty day simple moving average is $220.36 and its 200-day simple moving average is $236.00.

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

Royal Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 2nd will be issued a $0.475 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.7%. Royal Gold’s dividend payout ratio (DPR) is 20.74%.

Royal Gold 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.