Moran Wealth Management LLC Buys 2,887 Shares of Royal Gold, Inc. $RGLD

Moran Wealth Management LLC grew its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 26.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,840 shares of the basic materials company’s stock after purchasing an additional 2,887 shares during the period. Moran Wealth Management LLC’s holdings in Royal Gold were worth $3,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Elyxium Wealth LLC purchased a new position in shares of Royal Gold during the 4th quarter worth approximately $27,000. Gen Wealth Partners Inc purchased a new position in shares of Royal Gold in the 4th quarter valued at approximately $27,000. Trust Co. of Toledo NA OH purchased a new position in shares of Royal Gold in the 4th quarter valued at approximately $30,000. V Square Quantitative Management LLC bought a new stake in shares of Royal Gold during the fourth quarter valued at approximately $30,000. Finally, Bank & Trust Co boosted its position in shares of Royal Gold by 600.0% during the fourth quarter. Bank & Trust Co now owns 140 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Royal Gold Price Performance

NASDAQ RGLD opened at $204.13 on Monday. Royal Gold, Inc. has a one year low of $150.75 and a one year high of $306.25. The stock has a 50-day moving average of $220.84 and a 200 day moving average of $246.16. The company has a market capitalization of $17.32 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.52 and a beta of 0.44. 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. Stockholders of record on Thursday, July 2nd will be paid a $0.475 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.9%. Royal Gold’s payout ratio is currently 22.65%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RGLD shares. Weiss Ratings downgraded shares of Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. UBS Group lowered their price target on shares of Royal Gold from $325.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. National Bank Financial cut their price objective on shares of Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Finally, Zacks Research cut shares of Royal Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $276.20.

Insider Activity at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president owned 8,582 shares in the company, valued at approximately $1,852,424.70. This trade represents a 5.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by corporate 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.