Tocqueville Asset Management L.P. Buys New Position in Royal Gold, Inc. $RGLD

Tocqueville Asset Management L.P. bought a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the second quarter, Holdings Channel.com reports. The fund bought 10,339 shares of the basic materials company’s stock, valued at approximately $2,064,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of Nova Scotia lifted its position in shares of Royal Gold by 2.9% in the 1st quarter. Bank of Nova Scotia now owns 1,526 shares of the basic materials company’s stock worth $388,000 after purchasing an additional 43 shares during the period. Apollon Wealth Management LLC increased its position in shares of Royal Gold by 1.5% during the first quarter. Apollon Wealth Management LLC now owns 2,905 shares of the basic materials company’s stock worth $739,000 after buying an additional 44 shares during the period. WPG Advisers LLC increased its position in shares of Royal Gold by 34.1% during the fourth quarter. WPG Advisers LLC now owns 181 shares of the basic materials company’s stock worth $40,000 after buying an additional 46 shares during the period. Hilltop Holdings Inc. raised its stake in Royal Gold by 0.6% during the first quarter. Hilltop Holdings Inc. now owns 7,432 shares of the basic materials company’s stock worth $1,891,000 after buying an additional 46 shares during the last quarter. Finally, Compound Planning Inc. lifted its holdings in Royal Gold by 3.3% in the first quarter. Compound Planning Inc. now owns 1,493 shares of the basic materials company’s stock valued at $380,000 after buying an additional 47 shares during the period. Institutional investors own 83.65% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on RGLD shares. Scotiabank reaffirmed a “sector perform” rating and set a $310.00 price target on shares of Royal Gold in a research report on Tuesday, July 14th. Royal Bank Of Canada dropped their price objective 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. Zacks Research lowered Royal Gold from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Weiss Ratings downgraded Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 4th. Finally, UBS Group boosted their price target on Royal Gold from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Seven equities 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $285.10.

Insider Buying and Selling

In related news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $215.85, for a total transaction of $107,925.00. Following the transaction, the senior vice president directly owned 8,582 shares of the company’s stock, valued at approximately $1,852,424.70. This represents a 5.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.

Royal Gold Stock Up 1.7%

Shares of NASDAQ RGLD opened at $252.36 on Friday. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05. The firm has a market cap of $21.38 billion, a PE ratio of 27.55, a P/E/G ratio of 1.87 and a beta of 0.44. The company’s fifty day simple moving average is $209.14 and its 200 day simple moving average is $236.44. Royal Gold, Inc. has a 12-month low of $168.88 and a 12-month high of $306.25.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data 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 analyst estimates of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The business’s quarterly revenue was up 114.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.81 earnings per share. As a group, sell-side analysts forecast that Royal Gold, Inc. will post 10.33 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, October 2nd. Royal Gold’s payout ratio is presently 20.74%.

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.