Flax Pond Capital LLC Buys New Shares in Royal Gold, Inc. $RGLD

Flax Pond Capital LLC purchased a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 17,240 shares of the basic materials company’s stock, valued at approximately $3,832,000. Royal Gold accounts for 2.8% of Flax Pond Capital LLC’s portfolio, making the stock its 12th largest holding.

Several other hedge funds have also recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its stake in Royal Gold by 99.5% during the first quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company’s stock worth $27,608,000 after purchasing an additional 84,206 shares during the period. Focus Partners Wealth lifted its stake in Royal Gold by 51.5% in the first quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company’s stock valued at $1,384,000 after buying an additional 2,876 shares during the period. Brown Advisory Inc. lifted its stake in Royal Gold by 28.9% in the second quarter. Brown Advisory Inc. now owns 3,551 shares of the basic materials company’s stock valued at $631,000 after buying an additional 796 shares during the period. Qube Research & Technologies Ltd boosted its holdings in shares of Royal Gold by 43.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 188,247 shares of the basic materials company’s stock worth $33,478,000 after buying an additional 56,621 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Royal Gold by 4.6% during the 2nd quarter. NewEdge Advisors LLC now owns 24,551 shares of the basic materials company’s stock worth $4,366,000 after buying an additional 1,072 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Insider Transactions at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $215.85, for a total value of $107,925.00. Following the completion of the sale, the senior vice president directly owned 8,582 shares of the company’s stock, valued at approximately $1,852,424.70. This represents a 5.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.35% of the company’s stock.

Royal Gold Stock Performance

Shares of RGLD opened at $214.82 on Friday. The firm has a market capitalization of $18.23 billion, a P/E ratio of 25.60, a P/E/G ratio of 1.60 and a beta of 0.41. Royal Gold, Inc. has a 52 week low of $150.75 and a 52 week high of $306.25. The stock has a 50 day moving average price of $232.70 and a two-hundred day moving average price of $246.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.26 and a current ratio of 3.52.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 2nd will be issued a dividend of $0.475 per share. The ex-dividend date is Thursday, July 2nd. This represents a $1.90 annualized dividend and a yield of 0.9%. Royal Gold’s dividend payout ratio is 22.65%.

Wall Street Analysts Forecast Growth

RGLD has been the subject of several research analyst reports. Zacks Research lowered shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Weiss Ratings lowered shares of Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. UBS Group set a $325.00 price target on shares of Royal Gold and gave the stock a “buy” rating in a report on Wednesday, April 15th. Finally, National Bank Financial decreased their price target on shares of Royal Gold from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Royal Gold currently has a consensus rating of “Moderate Buy” and an average target price of $280.70.

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.