Royal Gold, Inc. $RGLD Shares Bought by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 8,008.1% during the third quarter, HoldingsChannel reports. The fund owned 75,000 shares of the basic materials company’s stock after buying an additional 74,075 shares during the quarter. International Assets Investment Management LLC’s holdings in Royal Gold were worth $17,700,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Royal Gold during the second quarter valued at about $2,177,865,000. Bank of New York Mellon Corp purchased a new position in shares of Royal Gold in the second quarter worth about $150,762,000. Findlay Park Partners LLP purchased a new position in shares of Royal Gold in the second quarter worth about $111,392,000. Bank of America Corp DE purchased a new position in shares of Royal Gold in the second quarter worth about $88,124,000. Finally, Deutsche Bank AG bought a new stake in shares of Royal Gold in the second quarter valued at approximately $69,325,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Randy Shefman sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $262.80, for a total transaction of $131,400.00. Following the completion of the transaction, the senior vice president owned 8,082 shares of the company’s stock, valued at approximately $2,123,949.60. The trade was a 5.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Royal Gold Stock Down 3.4%

Shares of NASDAQ RGLD opened at $228.77 on Friday. Royal Gold, Inc. has a 52 week low of $168.88 and a 52 week high of $306.25. The business has a 50-day simple moving average of $246.08 and a two-hundred day simple moving average of $241.51. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05. The company has a market cap of $19.38 billion, a P/E ratio of 24.97, a P/E/G ratio of 1.66 and a beta of 0.45.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.01. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%. The firm 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 business posted $1.81 earnings per share. The company’s revenue was up 114.9% on a year-over-year basis. Research analysts anticipate that Royal Gold, Inc. will post 10.66 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 2nd were given a $0.4750 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, October 2nd. Royal Gold’s dividend payout ratio (DPR) is 20.74%.

Analysts Set New Price Targets

A number of brokerages recently commented on RGLD. Weiss Ratings upgraded shares of Royal Gold from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Jefferies Financial Group cut their price objective on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a report on Monday, July 6th. Zacks Research upgraded shares of Royal Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. TD lowered their target price on shares of Royal Gold from $315.00 to $311.00 and set a “buy” rating on the stock in a report on Tuesday, October 20th. Finally, Scotiabank reissued a “sector perform” rating and set a $310.00 target price on shares of Royal Gold in a report on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $309.56.

Royal Gold Company Profile

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. The company provides financing to mining companies in exchange for the right to purchase a portion of the gold, silver, copper, or other metals produced from their mines, typically at predetermined prices. It also holds royalty interests that entitle it to a percentage of revenue or production from mining operations without directly operating the mines.

Royal Gold’s business is focused on acquiring and managing a diversified portfolio of streaming and royalty interests.