Van ECK Associates Corp Boosts Position in Royal Gold, Inc. $RGLD

Van ECK Associates Corp increased its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 18.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,900,432 shares of the basic materials company’s stock after purchasing an additional 905,488 shares during the quarter. Royal Gold makes up approximately 1.1% of Van ECK Associates Corp’s portfolio, making the stock its 23rd biggest position. Van ECK Associates Corp owned approximately 6.99% of Royal Gold worth $1,311,607,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital World Investors lifted its stake in Royal Gold by 7.5% during the fourth quarter. Capital World Investors now owns 9,733,807 shares of the basic materials company’s stock worth $2,163,732,000 after purchasing an additional 678,732 shares during the last quarter. Vanguard Group Inc. lifted its stake in Royal Gold by 25.0% in the fourth quarter. Vanguard Group Inc. now owns 8,398,944 shares of the basic materials company’s stock valued at $1,867,001,000 after buying an additional 1,681,577 shares during the last quarter. State Street Corp lifted its stake in Royal Gold by 5.4% in the third quarter. State Street Corp now owns 3,321,868 shares of the basic materials company’s stock valued at $666,300,000 after buying an additional 170,430 shares during the last quarter. Geode Capital Management LLC lifted its stake in Royal Gold by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,952,363 shares of the basic materials company’s stock valued at $434,063,000 after buying an additional 78,344 shares during the last quarter. Finally, Capital International Investors purchased a new stake in shares of Royal Gold during the fourth quarter worth approximately $332,026,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Royal Gold Trading Up 1.5%

Shares of NASDAQ RGLD opened at $207.57 on Friday. The company has a market cap of $17.62 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.52 and a beta of 0.41. Royal Gold, Inc. has a 12-month low of $150.75 and a 12-month high of $306.25. The company has a current ratio of 3.52, a quick ratio of 3.26 and a debt-to-equity ratio of 0.08. The stock’s 50 day simple moving average is $237.29 and its 200 day simple moving average is $245.35.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 2nd will be issued a $0.475 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.9%. Royal Gold’s dividend payout ratio (DPR) is 22.65%.

Analyst Ratings Changes

Several research firms have recently commented on RGLD. Weiss Ratings cut Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. UBS Group set a $325.00 price target on Royal Gold and gave the stock a “buy” rating in a research note on Wednesday, April 15th. National Bank Financial cut their price target on Royal Gold from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Finally, Zacks Research cut Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Royal Gold presently has a consensus rating of “Moderate Buy” and an average price target of $280.70.

Insider Activity

In related news, SVP Randy Shefman sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $243.74, for a total value of $243,740.00. Following the sale, the senior vice president owned 9,082 shares of the company’s stock, valued at approximately $2,213,646.68. This trade represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.