Charles Schwab Investment Management Inc. boosted its position in Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 342,076 shares of the basic materials company’s stock after buying an additional 8,460 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Royal Gold were worth $35,060,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in RGLD. CENTRAL TRUST Co boosted its stake in Royal Gold by 375.0% in the second quarter. CENTRAL TRUST Co now owns 475 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 375 shares during the period. Sandy Spring Bank boosted its stake in Royal Gold by 375.7% in the second quarter. Sandy Spring Bank now owns 1,037 shares of the basic materials company’s stock valued at $106,000 after acquiring an additional 819 shares during the period. Signaturefd LLC boosted its stake in Royal Gold by 77.5% in the first quarter. Signaturefd LLC now owns 1,154 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 504 shares during the period. Willingdon Wealth Management acquired a new position in Royal Gold in the second quarter valued at approximately $122,000. Finally, Almanack Investment Partners LLC. acquired a new position in Royal Gold in the second quarter valued at approximately $143,000. 78.86% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ RGLD opened at $124.24 on Thursday. The company has a current ratio of 4.60, a quick ratio of 4.26 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $126.15 and a 200-day simple moving average of $101.45. The company has a market cap of $8.15 billion, a PE ratio of 85.68, a P/E/G ratio of 4.84 and a beta of 0.16. Royal Gold, Inc has a 12-month low of $70.16 and a 12-month high of $138.78.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.06 annualized dividend and a dividend yield of 0.85%. Royal Gold’s dividend payout ratio is presently 73.10%.
A number of equities analysts have commented on the company. Raymond James lifted their target price on Royal Gold from $107.00 to $111.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Zacks Investment Research upgraded Royal Gold from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research note on Monday, June 3rd. Bank of America downgraded Royal Gold to an “underperform” rating in a research note on Friday, June 28th. TheStreet upgraded Royal Gold from a “c+” rating to a “b-” rating in a research note on Friday, June 7th. Finally, B. Riley lifted their target price on Royal Gold from $132.50 to $132.90 and gave the company a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Royal Gold presently has an average rating of “Hold” and a consensus price target of $111.93.
In other news, VP Bruce Christopher Kirchhoff sold 1,417 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $127.16, for a total transaction of $180,185.72. Following the completion of the transaction, the vice president now directly owns 48,826 shares in the company, valued at $6,208,714.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Tony A. Jensen sold 46,570 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $124.59, for a total value of $5,802,156.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,533 shares of company stock valued at $11,290,614. Insiders own 0.95% of the company’s stock.
Royal Gold Profile
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.
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