Findlay Park Partners LLP Acquires Shares of 558,050 Royal Gold, Inc. $RGLD

Findlay Park Partners LLP bought a new position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 558,050 shares of the basic materials company’s stock, valued at approximately $111,392,000.

A number of other institutional investors have also modified their holdings of the stock. Axiom Investment Management LLC purchased a new stake in shares of Royal Gold in the first quarter valued at approximately $25,000. Grove Bank & Trust grew its stake in Royal Gold by 88.6% in the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 62 shares in the last quarter. Elyxium Wealth LLC bought a new position in Royal Gold in the fourth quarter worth approximately $27,000. Gen Wealth Partners Inc purchased a new position in Royal Gold during the 4th quarter worth $27,000. Finally, Scarborough Advisors LLC purchased a new position in Royal Gold during the 1st quarter worth $32,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on RGLD shares. UBS Group upped their target price on Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Zacks Research lowered Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Jefferies Financial Group cut their price target on Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. 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 report on Thursday, July 9th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $310.00 price objective on shares of Royal Gold in a research note on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $285.10.

Royal Gold Price Performance

Shares of RGLD stock opened at $259.01 on Friday. The stock’s 50-day moving average is $210.17 and its 200 day moving average is $236.60. Royal Gold, Inc. has a 1-year low of $168.88 and a 1-year high of $306.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68. The company has a market cap of $21.95 billion, a P/E ratio of 28.28, a PEG ratio of 1.95 and a beta of 0.44.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.01. The business had revenue of $468.98 million during the quarter, compared to the consensus estimate of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The firm’s revenue was up 114.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.81 earnings per share. Research analysts predict that Royal Gold, Inc. will post 10.32 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, October 2nd. Royal Gold’s payout ratio is 20.74%.

Insider Activity at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total transaction of $107,925.00. Following the completion of the sale, the senior vice president owned 8,582 shares of the company’s stock, valued at $1,852,424.70. This represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is currently owned by company insiders.

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.