8,260 Shares in Royal Gold, Inc. $RGLD Bought by Chase Investment Counsel Corp

Chase Investment Counsel Corp bought a new position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 8,260 shares of the basic materials company’s stock, valued at approximately $1,656,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its position in Royal Gold by 99.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company’s stock valued at $27,608,000 after purchasing an additional 84,206 shares during the last quarter. Focus Partners Wealth increased its stake in shares of 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 purchasing an additional 2,876 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of Royal Gold by 548.1% during the second quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company’s stock valued at $31,000 after buying an additional 148 shares during the last quarter. Forum Financial Management LP grew its position in Royal Gold by 11.1% in the 2nd quarter. Forum Financial Management LP now owns 1,677 shares of the basic materials company’s stock valued at $298,000 after buying an additional 167 shares in the last quarter. Finally, Freedom Investment Management Inc. acquired a new position in Royal Gold during the 2nd quarter valued at about $362,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Royal Gold Stock Down 0.1%

Royal Gold stock opened at $285.21 on Tuesday. Royal Gold, Inc. has a 1-year low of $142.95 and a 1-year high of $306.25. The firm’s fifty day simple moving average is $258.04 and its 200-day simple moving average is $212.91. The company has a market capitalization of $24.19 billion, a P/E ratio of 41.88, a P/E/G ratio of 0.85 and a beta of 0.49. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.12.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.76). Royal Gold had a return on equity of 11.89% and a net margin of 45.26%.The company had revenue of $360.85 million for the quarter, compared to the consensus estimate of $425.47 million. During the same quarter last year, the company posted $1.63 EPS. The business’s revenue was up 85.2% compared to the same quarter last year. Sell-side analysts forecast that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Insider Transactions at Royal Gold

In other Royal Gold news, Director William M. Hayes sold 4,173 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $277.07, for a total transaction of $1,156,213.11. Following the completion of the sale, the director owned 6,129 shares of the company’s stock, valued at $1,698,162.03. This represents a 40.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.49% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RGLD. Raymond James Financial set a $264.00 price target on shares of Royal Gold in a research note on Thursday, November 6th. TD Cowen upped their target price on Royal Gold from $261.00 to $263.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Wall Street Zen lowered Royal Gold from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research cut Royal Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $270.00 price target on shares of Royal Gold in a report on Sunday, December 7th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $251.50.

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.