Royal Gold, Inc. $RGLD Stock Bought by McAlvany Wealth Management LLC

McAlvany Wealth Management LLC increased its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 10.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 59,133 shares of the basic materials company’s stock after buying an additional 5,441 shares during the quarter. Royal Gold comprises 6.8% of McAlvany Wealth Management LLC’s holdings, making the stock its 2nd largest position. McAlvany Wealth Management LLC’s holdings in Royal Gold were worth $13,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Royal Gold in the second quarter worth approximately $2,177,865,000. Bank of New York Mellon Corp purchased a new position in Royal Gold in the 2nd quarter worth $150,762,000. Findlay Park Partners LLP bought a new stake in Royal Gold in the second quarter worth $111,392,000. Bank of America Corp DE bought a new stake in Royal Gold in the second quarter worth $88,124,000. Finally, Deutsche Bank AG bought a new stake in Royal Gold in the second quarter worth $69,325,000. Institutional investors own 83.65% of the company’s stock.

Royal Gold Stock Up 3.2%

NASDAQ:RGLD opened at $235.99 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68. The firm’s 50-day moving average price is $245.62 and its 200-day moving average price is $241.42. The company has a market capitalization of $19.99 billion, a PE ratio of 25.76, a P/E/G ratio of 1.75 and a beta of 0.45. Royal Gold, Inc. has a 1-year low of $168.88 and a 1-year high of $306.25.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $458.85 million. During the same quarter in the previous year, the firm posted $1.81 earnings per share. Royal Gold’s quarterly revenue was up 114.9% on a year-over-year basis. On average, equities analysts predict that Royal Gold, Inc. will post 10.66 EPS for the current fiscal year.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, October 2nd were paid a $0.4750 dividend. The ex-dividend date was Friday, October 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.8%. Royal Gold’s dividend payout ratio is presently 20.74%.

Insider Buying and Selling 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 stock was sold at an average price of $262.80, for a total transaction of $131,400.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Weiss Ratings upgraded shares of Royal Gold from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Scotiabank reiterated a “sector perform” rating and issued a $310.00 price objective on shares of Royal Gold in a report on Tuesday, July 14th. TD lowered their target price on Royal Gold from $315.00 to $311.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. UBS Group boosted their target price on Royal Gold from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Jefferies Financial Group dropped their price objective 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. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.56.

About Royal Gold

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. The company provides financing to mining companies in exchange for the right to purchase a portion of the gold, silver, copper, or other metals produced from their mines, typically at predetermined prices. It also holds royalty interests that entitle it to a percentage of revenue or production from mining operations without directly operating the mines.

Royal Gold’s business is focused on acquiring and managing a diversified portfolio of streaming and royalty interests.