Dorsey Wright & Associates Invests $1.11 Million in Royal Gold, Inc. $RGLD

Dorsey Wright & Associates bought a new position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the 1st quarter, Holdings Channel reports. The institutional investor bought 4,347 shares of the basic materials company’s stock, valued at approximately $1,106,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors grew its position 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 valued at $2,163,732,000 after acquiring an additional 678,732 shares during the period. Vanguard Group Inc. raised its holdings in shares of Royal Gold by 25.0% in the 4th quarter. Vanguard Group Inc. now owns 8,398,944 shares of the basic materials company’s stock worth $1,867,001,000 after purchasing an additional 1,681,577 shares during the period. Van ECK Associates Corp raised its holdings in shares of Royal Gold by 18.1% in the 4th quarter. Van ECK Associates Corp now owns 5,900,432 shares of the basic materials company’s stock worth $1,311,607,000 after purchasing an additional 905,488 shares during the period. State Street Corp lifted its stake in shares of Royal Gold by 11.9% in the 4th quarter. State Street Corp now owns 3,718,646 shares of the basic materials company’s stock valued at $826,618,000 after purchasing an additional 396,778 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Royal Gold by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,952,363 shares of the basic materials company’s stock valued at $434,063,000 after purchasing an additional 78,344 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Royal Gold Stock Performance

Shares of RGLD stock opened at $189.17 on Friday. Royal Gold, Inc. has a 12 month low of $150.75 and a 12 month high of $306.25. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.52 and a quick ratio of 3.26. The firm has a market capitalization of $16.05 billion, a P/E ratio of 22.55, a P/E/G ratio of 1.33 and a beta of 0.44. The company’s fifty day moving average price is $212.07 and its two-hundred day moving average price is $243.68.

Royal Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders 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 dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 2nd. Royal Gold’s payout ratio is presently 22.65%.

Insider Activity at Royal Gold

In related news, SVP Randy Shefman sold 1,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $243.74, for a total value of $243,740.00. Following the transaction, the senior vice president owned 9,082 shares in the company, valued at approximately $2,213,646.68. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RGLD. Jefferies Financial Group dropped their target price 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. Scotiabank reaffirmed a “sector perform” rating and set a $310.00 price target on shares of Royal Gold in a research report on Tuesday. Zacks Research upgraded shares of Royal Gold from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 2nd. National Bank Financial decreased their price objective on shares of 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, UBS Group dropped their price objective on shares of 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 investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.27.

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.