Freestone Grove Partners LP Makes New Investment in Royal Gold, Inc. $RGLD

Freestone Grove Partners LP purchased a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 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 modified their holdings of the company. Axiom Investment Management LLC acquired a new position in shares of Royal Gold during the 1st quarter worth about $25,000. Grove Bank & Trust lifted its stake in Royal Gold by 88.6% in the 2nd quarter. Grove Bank & Trust now owns 132 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 62 shares during the last quarter. Elyxium Wealth LLC acquired a new stake in Royal Gold in the 4th quarter valued at about $27,000. Gen Wealth Partners Inc bought a new position in Royal Gold during the fourth quarter worth about $27,000. Finally, Scarborough Advisors LLC acquired a new position in Royal Gold during the first quarter worth approximately $32,000. Institutional investors own 83.65% of the company’s stock.

Royal Gold Stock Performance

Shares of RGLD stock opened at $262.85 on Friday. Royal Gold, Inc. has a 52 week low of $168.88 and a 52 week high of $306.25. The company has a market capitalization of $22.27 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 1.98 and a beta of 0.44. The company has a 50-day simple moving average of $215.06 and a 200 day simple moving average of $236.73. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share for the quarter, beating 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 business’s revenue was up 114.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.81 EPS. On average, sell-side analysts predict that Royal Gold, Inc. will post 10.26 earnings per share for the current year.

Royal Gold Announces Dividend

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

Insider Buying and Selling at Royal Gold

In other 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 transaction, the senior vice president owned 8,082 shares in the company, valued at approximately $2,123,949.60. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RGLD shares. Weiss Ratings lowered Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. UBS Group lifted their target price on Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Jefferies Financial Group decreased their target price on Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Royal Bank Of Canada dropped their price target on Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Finally, Zacks Research downgraded Royal Gold from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Seven research 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $285.10.

Royal Gold 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.