Meyer Handelman Co. Invests $8 Million in Royal Gold, Inc. $RGLD

Meyer Handelman Co. acquired a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the 4th quarter, Holdings Channel reports. The fund acquired 36,008 shares of the basic materials company’s stock, valued at approximately $8,004,000.

Other hedge funds have also made changes to their positions in the company. Bank & Trust Co raised its holdings in Royal Gold by 600.0% during the fourth quarter. Bank & Trust Co now owns 140 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 120 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in Royal Gold in the third quarter worth approximately $29,000. Sunbelt Securities Inc. boosted its stake in Royal Gold by 8,400.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 170 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 168 shares in the last quarter. Caldwell Trust Co bought a new position in Royal Gold during the 2nd quarter valued at $36,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Royal Gold by 33.9% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 221 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Royal Gold Price Performance

NASDAQ RGLD opened at $254.49 on Wednesday. Royal Gold, Inc. has a 1 year low of $150.75 and a 1 year high of $306.25. The business’s fifty day moving average is $269.94 and its two-hundred day moving average is $228.26. The stock has a market capitalization of $21.58 billion, a P/E ratio of 37.37, a P/E/G ratio of 1.40 and a beta of 0.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.91 and a current ratio of 3.12.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.76). The company had revenue of $310.83 million for the quarter, compared to the consensus estimate of $425.47 million. Royal Gold had a return on equity of 11.89% and a net margin of 45.26%.The business’s revenue was up 85.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.63 earnings per share. On average, research analysts forecast that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently commented on RGLD shares. Canadian Imperial Bank of Commerce reissued a “neutral” rating and issued a $330.00 price objective on shares of Royal Gold in a research note on Wednesday, February 4th. Zacks Research lowered Royal Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Gold in a research report on Thursday, January 22nd. Jefferies Financial Group reissued a “buy” rating and issued a $270.00 price target on shares of Royal Gold in a report on Sunday, December 7th. Finally, Scotiabank lowered shares of Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 price objective for the company. in a research report on Monday, January 26th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $251.50.

Insider Activity at Royal Gold

In other Royal Gold news, Director William M. Hayes sold 4,173 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $277.07, for a total transaction of $1,156,213.11. Following the sale, the director directly owned 6,129 shares of the company’s stock, valued at $1,698,162.03. The trade was a 40.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Isto sold 2,000 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $274.83, for a total value of $549,660.00. Following the transaction, the director directly owned 20,043 shares in the company, valued at $5,508,417.69. The trade was a 9.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,573 shares of company stock worth $2,127,091 in the last quarter. 0.49% of the stock is owned by company insiders.

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.