Freestone Grove Partners LP Buys Shares of 4,683 Royal Gold, Inc. $RGLD

Freestone Grove Partners LP bought a new position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,683 shares of the basic materials company’s stock, valued at approximately $935,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of 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 in the last quarter. Focus Partners Wealth raised its stake 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 period. Brown Advisory Inc. lifted its holdings in Royal Gold by 28.9% during the second quarter. Brown Advisory Inc. now owns 3,551 shares of the basic materials company’s stock worth $631,000 after acquiring an additional 796 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in Royal Gold by 43.0% during the second 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 in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Royal Gold by 4.6% in the second quarter. NewEdge Advisors LLC now owns 24,551 shares of the basic materials company’s stock valued at $4,366,000 after acquiring an additional 1,072 shares during the period. 83.65% of the stock is owned by institutional investors.

Insider Transactions at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the 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 directly owned 8,082 shares of the company’s stock, valued at approximately $2,123,949.60. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. UBS Group increased their price target on Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Scotiabank reiterated a “sector perform” rating and set a $310.00 price objective on shares of Royal Gold in a report on Tuesday, July 14th. Royal Bank Of Canada decreased their price objective on Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Weiss Ratings cut Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Finally, Jefferies Financial Group dropped their target price on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $285.10.

Royal Gold Stock Performance

Shares of RGLD stock 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’s fifty day simple moving average is $215.06 and its 200-day simple moving average is $236.73. The firm has a market cap of $22.27 billion, a PE ratio of 28.70, a P/E/G ratio of 1.98 and a beta of 0.44. 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 (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results 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. The firm had revenue of $468.98 million for the quarter, compared to analysts’ expectations of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The company’s revenue for the quarter was up 114.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.81 EPS. Equities research analysts expect that Royal Gold, Inc. will post 10.26 EPS 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. Investors of record on Friday, October 2nd will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, October 2nd. Royal Gold’s dividend payout ratio is presently 20.74%.

About Royal Gold

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.