Geode Capital Management LLC Has $434.06 Million Position in Royal Gold, Inc. $RGLD

Geode Capital Management LLC raised its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 4.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,952,363 shares of the basic materials company’s stock after acquiring an additional 78,344 shares during the quarter. Geode Capital Management LLC’s holdings in Royal Gold were worth $434,063,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new stake in Royal Gold in the 4th quarter valued at $27,000. Trust Co. of Toledo NA OH acquired a new stake in Royal Gold in the 4th quarter valued at $30,000. V Square Quantitative Management LLC acquired a new stake in Royal Gold in the 4th quarter valued at $30,000. Bank & Trust Co increased its stake in Royal Gold by 600.0% in the 4th quarter. Bank & Trust Co now owns 140 shares of the basic materials company’s stock valued at $31,000 after buying an additional 120 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in Royal Gold in the 3rd quarter valued at $29,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RGLD has been the topic of several recent research reports. Zacks Research lowered shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Canadian Imperial Bank of Commerce restated a “neutral” rating and set a $330.00 price objective on shares of Royal Gold in a research note on Wednesday, February 4th. National Bank Financial lowered their price objective 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. Weiss Ratings restated a “buy (b)” rating on shares of Royal Gold in a research note on Tuesday, April 21st. Finally, UBS Group set a $325.00 price objective on shares of Royal Gold and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.64.

Royal Gold Price Performance

Royal Gold stock opened at $224.48 on Monday. The firm has a market capitalization of $19.05 billion, a PE ratio of 26.76, a P/E/G ratio of 1.67 and a beta of 0.42. The company’s 50-day moving average is $242.27 and its 200-day moving average is $244.14. Royal Gold, Inc. has a fifty-two week low of $150.75 and a fifty-two week high of $306.25. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.52 and a quick ratio of 3.26.

Royal Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.475 per share. The ex-dividend date is Thursday, July 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.8%. Royal Gold’s payout ratio is currently 22.65%.

Insider Activity

In other news, Director Mark Isto sold 2,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $274.83, for a total transaction of $549,660.00. Following the transaction, the director directly owned 20,043 shares in the company, valued at $5,508,417.69. The trade was a 9.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Randy Shefman sold 1,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $243.74, for a total transaction of $243,740.00. Following the transaction, the senior vice president owned 9,082 shares in the company, valued at $2,213,646.68. This represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.35% of the stock is owned by 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.