Wealthfront Advisers LLC Makes New $440,000 Investment in Royal Gold, Inc. $RGLD

Wealthfront Advisers LLC bought a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 2,203 shares of the basic materials company’s stock, valued at approximately $440,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. First National Bank of Omaha bought a new stake in shares of Royal Gold in the second quarter worth $606,000. K2 Principal Fund L.P. bought a new position in Royal Gold during the 2nd quarter valued at $2,121,000. Meeder Asset Management Inc. bought a new position in Royal Gold during the 2nd quarter valued at $5,319,000. Tiemann Investment Advisors LLC acquired a new position in Royal Gold during the 2nd quarter worth $922,000. Finally, MidFirst Bank acquired a new position in Royal Gold during the 2nd quarter worth $87,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Royal Gold Stock Performance

Royal Gold stock opened at $259.01 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68. Royal Gold, Inc. has a 12 month low of $168.88 and a 12 month high of $306.25. The company has a fifty day moving average price of $210.17 and a two-hundred day moving average price of $236.60. The company has a market cap of $21.95 billion, a PE ratio of 28.28, a P/E/G ratio of 1.90 and a beta of 0.44.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.01. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The company had revenue of $468.98 million for the quarter, compared to analysts’ expectations of $458.85 million. During the same period in the prior year, the company earned $1.81 earnings per share. The firm’s revenue was up 114.9% compared to the same quarter last year. Research analysts expect that Royal Gold, Inc. will post 10.33 earnings per share for the current year.

Royal Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be paid a dividend of $0.475 per share. The ex-dividend date is Friday, October 2nd. This represents a $1.90 annualized dividend and a yield of 0.7%. Royal Gold’s dividend payout ratio is 20.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. UBS Group boosted their target price on shares of Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. 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. Jefferies Financial Group decreased their price target on Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Zacks Research lowered Royal Gold from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Finally, Weiss Ratings cut Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $285.10.

Insiders Place Their Bets

In related news, SVP Randy Shefman sold 500 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total transaction of $107,925.00. Following the sale, the senior vice president owned 8,582 shares in the company, valued at $1,852,424.70. This represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Royal Gold Company 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.