Van ECK Associates Corp Acquires 2,547,076 Shares of Royal Gold, Inc. $RGLD

Van ECK Associates Corp lifted its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 104.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,994,944 shares of the basic materials company’s stock after buying an additional 2,547,076 shares during the quarter. Royal Gold makes up about 0.9% of Van ECK Associates Corp’s portfolio, making the stock its 28th biggest position. Van ECK Associates Corp owned 0.08% of Royal Gold worth $1,001,885,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Capital World Investors boosted its holdings in Royal Gold by 1.0% during the 3rd quarter. Capital World Investors now owns 9,055,075 shares of the basic materials company’s stock valued at $1,816,267,000 after acquiring an additional 93,282 shares during the period. AQR Capital Management LLC lifted its position in shares of Royal Gold by 8.2% during the second quarter. AQR Capital Management LLC now owns 1,820,435 shares of the basic materials company’s stock worth $319,140,000 after purchasing an additional 137,524 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Royal Gold by 3.6% during the second quarter. Geode Capital Management LLC now owns 1,751,136 shares of the basic materials company’s stock worth $311,457,000 after purchasing an additional 61,352 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Royal Gold by 9.4% during the third quarter. Dimensional Fund Advisors LP now owns 993,265 shares of the basic materials company’s stock valued at $199,218,000 after purchasing an additional 85,722 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Royal Gold by 19.5% during the second quarter. Invesco Ltd. now owns 928,332 shares of the basic materials company’s stock valued at $165,095,000 after purchasing an additional 151,492 shares during the period. 83.65% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Daniel Breeze sold 1,400 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $300.87, for a total value of $421,218.00. Following the completion of the transaction, the senior vice president owned 20,140 shares of the company’s stock, valued at approximately $6,059,521.80. This represents a 6.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William M. Hayes sold 4,173 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $277.07, for a total value of $1,156,213.11. Following the transaction, the director owned 6,129 shares in the company, valued at $1,698,162.03. This represents a 40.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.49% of the stock is owned by insiders.

Royal Gold Trading Up 0.7%

Shares of NASDAQ:RGLD opened at $281.86 on Tuesday. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. Royal Gold, Inc. has a 52-week low of $150.75 and a 52-week high of $306.25. The stock has a market cap of $23.90 billion, a price-to-earnings ratio of 41.39, a PEG ratio of 1.69 and a beta of 0.47. The business has a 50-day moving average price of $269.91 and a 200-day moving average price of $221.13.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.92 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.76). Royal Gold had a net margin of 45.26% and a return on equity of 11.89%. The business had revenue of $360.85 million during the quarter, compared to analysts’ expectations of $425.47 million. During the same period in the previous year, the company posted $1.63 earnings per share. Royal Gold’s revenue for the quarter was up 85.2% compared to the same quarter last year. Equities analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 2nd will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, April 2nd. Royal Gold’s payout ratio is currently 27.90%.

Analyst Upgrades and Downgrades

RGLD has been the topic of several research reports. Zacks Research lowered Royal Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. TD Cowen raised their target price on shares of Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Jefferies Financial Group restated a “buy” rating and issued a $270.00 price target on shares of Royal Gold in a report on Sunday, December 7th. Scotiabank cut shares of Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 price target for the company. in a research report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating and set a $330.00 price objective on shares of Royal Gold in a report on Wednesday, February 4th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.50.

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.