Maverick Capital Ltd. Acquires Shares of 4,241 Royal Gold, Inc. $RGLD

Maverick Capital Ltd. purchased a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 4,241 shares of the basic materials company’s stock, valued at approximately $1,079,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantinno Capital Management LP raised its position in Royal Gold by 23.2% in the first quarter. Quantinno Capital Management LP now owns 45,254 shares of the basic materials company’s stock worth $11,517,000 after acquiring an additional 8,509 shares in the last quarter. Gateway Wealth Partners LLC boosted its position in shares of Royal Gold by 120.6% during the 1st quarter. Gateway Wealth Partners LLC now owns 2,206 shares of the basic materials company’s stock worth $561,000 after purchasing an additional 1,206 shares in the last quarter. Waverly Advisors LLC boosted its position in shares of Royal Gold by 5.6% during the 1st quarter. Waverly Advisors LLC now owns 3,439 shares of the basic materials company’s stock worth $875,000 after purchasing an additional 181 shares in the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Royal Gold by 81.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 35,482 shares of the basic materials company’s stock worth $9,030,000 after purchasing an additional 15,879 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Royal Gold during the 1st quarter worth $5,524,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Royal Gold Trading Down 2.4%

NASDAQ RGLD opened at $196.16 on Wednesday. Royal Gold, Inc. has a 12 month low of $150.75 and a 12 month high of $306.25. The company has a 50-day moving average of $206.69 and a 200-day moving average of $242.21. The company has a market cap of $16.65 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.38 and a beta of 0.44. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.52 and a quick ratio of 3.26.

Royal Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 2nd. Royal Gold’s dividend payout ratio is 22.65%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RGLD shares. Weiss Ratings downgraded shares of Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Jefferies Financial Group reduced 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. National Bank Financial lowered their price target on Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Royal Bank Of Canada decreased their target price on Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Finally, UBS Group dropped their price target on Royal Gold from $325.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $280.27.

Insider Transactions at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $215.85, for a total transaction of $107,925.00. Following the sale, the senior vice president directly owned 8,582 shares in the company, valued at approximately $1,852,424.70. This trade represents a 5.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate 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.