K2 Principal Fund L.P. Buys New Position in Royal Gold, Inc. $RGLD

K2 Principal Fund L.P. purchased a new position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,625 shares of the basic materials company’s stock, valued at approximately $2,121,000.

Several other hedge funds have also recently modified their holdings of the stock. Axiom Investment Management LLC purchased a new stake in Royal Gold during the 1st quarter worth approximately $25,000. Grove Bank & Trust lifted its stake in shares of Royal Gold by 88.6% during the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company’s stock worth $26,000 after buying an additional 62 shares during the period. Elyxium Wealth LLC purchased a new stake in shares of Royal Gold during the fourth quarter valued at $27,000. Gen Wealth Partners Inc acquired a new position in shares of Royal Gold in the 4th quarter valued at $27,000. Finally, Scarborough Advisors LLC purchased a new position in Royal Gold in the 1st quarter worth $32,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Insider Transactions at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president directly owned 8,582 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

RGLD has been the topic of a number of research reports. Royal Bank Of Canada cut their price objective on Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. UBS Group lifted their target price on Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Zacks Research lowered Royal Gold from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Weiss Ratings downgraded shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 4th. Finally, Scotiabank reissued a “sector perform” rating and set a $310.00 price target on shares of Royal Gold in a research report on Tuesday, July 14th. Seven equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $285.10.

Royal Gold Stock Down 2.6%

RGLD stock opened at $230.43 on Wednesday. Royal Gold, Inc. has a one year low of $166.51 and a one year high of $306.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92. The firm’s fifty day moving average is $207.17 and its 200 day moving average is $236.83. The firm has a market cap of $19.52 billion, a PE ratio of 25.16, a P/E/G ratio of 1.74 and a beta of 0.44.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data 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 business had revenue of $468.98 million during the quarter, compared to the consensus estimate of $458.85 million. During the same quarter in the prior year, the firm posted $1.81 earnings per share. The company’s revenue was up 114.9% compared to the same quarter last year. On average, research analysts forecast that Royal Gold, Inc. will post 10.33 EPS for the current year.

Royal Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be issued a $0.475 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.8%. Royal Gold’s dividend payout ratio is presently 20.74%.

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.