Covestor Ltd Buys 569 Shares of Royal Gold, Inc. (NASDAQ:RGLD)

Covestor Ltd grew its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 74.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,334 shares of the basic materials company’s stock after acquiring an additional 569 shares during the quarter. Covestor Ltd’s holdings in Royal Gold were worth $163,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of RGLD. Rakuten Securities Inc. bought a new stake in shares of Royal Gold during the 4th quarter valued at $27,000. Larson Financial Group LLC lifted its position in shares of Royal Gold by 526.3% during the 4th quarter. Larson Financial Group LLC now owns 238 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 200 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Royal Gold during the 4th quarter valued at $31,000. BKM Wealth Management LLC bought a new stake in shares of Royal Gold during the 4th quarter valued at $36,000. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Royal Gold during the 1st quarter valued at $36,000. 83.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RGLD shares. BMO Capital Markets upped their price objective on Royal Gold from $168.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. Cibc World Mkts upgraded Royal Gold to a “hold” rating in a research report on Wednesday, July 10th. Scotiabank upped their price objective on Royal Gold from $144.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. Bank of America upped their price objective on Royal Gold from $129.00 to $131.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 26th. Finally, CIBC upped their price objective on Royal Gold from $166.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Royal Gold has a consensus rating of “Hold” and a consensus target price of $152.75.

Royal Gold Trading Up 1.0 %

Shares of RGLD stock traded up $1.42 on Tuesday, hitting $138.86. The company had a trading volume of 68,481 shares, compared to its average volume of 396,691. The firm has a market cap of $9.13 billion, a P/E ratio of 40.54, a P/E/G ratio of 1.11 and a beta of 0.87. The stock’s 50-day moving average is $128.97 and its two-hundred day moving average is $120.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.35 and a current ratio of 2.50. Royal Gold, Inc. has a twelve month low of $100.55 and a twelve month high of $140.95.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.04). The company had revenue of $148.90 million during the quarter, compared to analyst estimates of $147.02 million. Royal Gold had a net margin of 38.12% and a return on equity of 7.96%. The company’s quarterly revenue was down 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 EPS. On average, equities research analysts anticipate that Royal Gold, Inc. will post 4.69 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 1.15%. Royal Gold’s dividend payout ratio is currently 47.20%.

Insider Buying and Selling

In related news, SVP Daniel Breeze sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $130.73, for a total transaction of $196,095.00. Following the completion of the sale, the senior vice president now owns 14,840 shares of the company’s stock, valued at $1,940,033.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by insiders.

Royal Gold Company Profile

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.