HighTower Advisors LLC Purchases 2,526 Shares of Royal Gold, Inc. (NASDAQ:RGLD)

Posted by MarketBeat News on May 25th, 2023

HighTower Advisors LLC raised its position in shares of Royal Gold, Inc. (NASDAQ:RGLD – Get Rating) (TSE:RGL) by 18.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,184 shares of the basic materials company’s stock after buying an additional 2,526 shares during the quarter. HighTower Advisors LLC’s holdings in Royal Gold were worth $1,836,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. US Bancorp DE grew its holdings in shares of Royal Gold by 3.2% in the first quarter. US Bancorp DE now owns 3,913 shares of the basic materials company’s stock valued at $552,000 after purchasing an additional 123 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Royal Gold in the 1st quarter worth $251,000. PNC Financial Services Group Inc. raised its position in shares of Royal Gold by 2.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,042 shares of the basic materials company’s stock valued at $572,000 after buying an additional 96 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Royal Gold by 9.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 35,641 shares of the basic materials company’s stock valued at $5,174,000 after acquiring an additional 2,988 shares during the last quarter. Finally, Cibc World Market Inc. increased its stake in Royal Gold by 542.1% during the first quarter. Cibc World Market Inc. now owns 12,920 shares of the basic materials company’s stock worth $1,825,000 after acquiring an additional 10,908 shares during the last quarter. Institutional investors own 78.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RGLD. Barclays lifted their target price on Royal Gold from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Friday, April 21st. Raymond James reduced their target price on Royal Gold from $153.00 to $148.00 and set an “outperform” rating on the stock in a research note on Friday, April 21st. Cantor Fitzgerald lowered shares of Royal Gold from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. National Bankshares reduced their price target on shares of Royal Gold from $165.00 to $160.00 and set a “sector perform” rating on the stock in a research note on Friday, May 5th. Finally, TheStreet lowered shares of Royal Gold from a “b+” rating to a “c” rating in a report on Wednesday, May 3rd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $141.63.

Insider Transactions at Royal Gold

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In related news, COO Mark Isto sold 9,660 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $141.89, for a total transaction of $1,370,657.40. Following the completion of the sale, the chief operating officer now owns 30,437 shares of the company’s stock, valued at $4,318,705.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Mark Isto sold 9,660 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $141.89, for a total transaction of $1,370,657.40. Following the transaction, the chief operating officer now directly owns 30,437 shares of the company’s stock, valued at approximately $4,318,705.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William M. Hayes sold 2,140 shares of the stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $142.50, for a total value of $304,950.00. Following the completion of the sale, the director now owns 9,832 shares of the company’s stock, valued at $1,401,060. The disclosure for this sale can be found here. Insiders have sold a total of 13,895 shares of company stock valued at $1,972,930 in the last 90 days. Insiders own 0.40% of the company’s stock.

Royal Gold Stock Down 1.6 %

Shares of NASDAQ RGLD opened at $125.02 on Thursday. Royal Gold, Inc. has a 12-month low of $84.54 and a 12-month high of $147.82. The stock’s fifty day simple moving average is $133.23 and its two-hundred day simple moving average is $122.43. The stock has a market capitalization of $8.20 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 3.35 and a beta of 0.65. The company has a current ratio of 3.44, a quick ratio of 3.23 and a debt-to-equity ratio of 0.18.

Royal Gold (NASDAQ:RGLD – Get Rating) (TSE:RGL) last issued its quarterly earnings data on Wednesday, May 3rd. The basic materials company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. Royal Gold had a return on equity of 8.18% and a net margin of 38.80%. The firm had revenue of $170.40 million during the quarter, compared to analysts’ expectations of $162.77 million. During the same period in the prior year, the business posted $0.99 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts expect that Royal Gold, Inc. will post 3.79 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 21st. Stockholders of record on Thursday, April 6th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Wednesday, April 5th. Royal Gold’s dividend payout ratio is currently 41.55%.

About Royal Gold

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Royal Gold, Inc engages in the acquisition and management of precious metal streams, royalties, and similar interests. It operates through the Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests segments. The Acquisition and Management of Stream Interests segment focuses on metal streams, which are purchase agreements that provide, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals produced, at a price determined for the life of the transaction.