Royal Gold, Inc. $RGLD Stake Increased by Meyer Handelman Co.

Meyer Handelman Co. lifted its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 40.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,580 shares of the basic materials company’s stock after buying an additional 14,572 shares during the period. Meyer Handelman Co. owned about 0.06% of Royal Gold worth $12,872,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC grew its position in Royal Gold by 52.8% during the fourth quarter. SG Americas Securities LLC now owns 17,671 shares of the basic materials company’s stock valued at $3,928,000 after purchasing an additional 6,109 shares in the last quarter. Louisbourg Investments Inc. purchased a new stake in Royal Gold in the 4th quarter worth approximately $3,938,000. Plancorp LLC lifted its position in Royal Gold by 69.8% in the 4th quarter. Plancorp LLC now owns 13,732 shares of the basic materials company’s stock worth $3,053,000 after buying an additional 5,646 shares in the last quarter. World Investment Advisors acquired a new stake in shares of Royal Gold during the 4th quarter valued at $1,024,000. Finally, Bar Harbor Wealth Management acquired a new stake in shares of Royal Gold during the 4th quarter valued at $7,916,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Transactions at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were 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 in the company, valued at approximately $1,852,424.70. This represents a 5.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Royal Gold Price Performance

NASDAQ RGLD opened at $204.62 on Friday. The company has a quick ratio of 3.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $17.37 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.50 and a beta of 0.41. Royal Gold, Inc. has a 12-month low of $150.75 and a 12-month high of $306.25. The company has a 50 day moving average price of $227.89 and a two-hundred day moving average price of $246.50.

Royal Gold Announces Dividend

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

About Royal Gold

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.