Arrowstreet Capital Limited Partnership Buys 874,329 Shares of Royal Gold, Inc. $RGLD

Arrowstreet Capital Limited Partnership boosted its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 89.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,855,877 shares of the basic materials company’s stock after buying an additional 874,329 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 2.20% of Royal Gold worth $412,543,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in Royal Gold by 52.8% during the 4th quarter. SG Americas Securities LLC now owns 17,671 shares of the basic materials company’s stock valued at $3,928,000 after buying an additional 6,109 shares in the last quarter. Louisbourg Investments Inc. purchased a new stake in Royal Gold during the 4th quarter valued at $3,938,000. Prospera Financial Services Inc purchased a new stake in Royal Gold during the 3rd quarter valued at $1,068,000. Plancorp LLC boosted its stake in Royal Gold by 69.8% during the 4th quarter. Plancorp LLC now owns 13,732 shares of the basic materials company’s stock valued at $3,053,000 after purchasing an additional 5,646 shares during the last quarter. Finally, Bar Harbor Wealth Management purchased a new stake in Royal Gold during the 4th quarter valued at $7,916,000. Institutional investors own 83.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RGLD. National Bank Financial cut their target price on Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. UBS Group set a $325.00 target price on Royal Gold and gave the company a “buy” rating in a research note on Wednesday, April 15th. Weiss Ratings downgraded Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. Finally, Zacks Research downgraded Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.70.

Insider Activity

In other news, SVP Randy Shefman sold 1,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $243.74, for a total value of $243,740.00. Following the transaction, the senior vice president directly owned 9,082 shares in the company, valued at $2,213,646.68. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.35% of the stock is currently owned by company insiders.

Royal Gold Stock Performance

RGLD stock opened at $207.57 on Friday. The company has a market cap of $17.62 billion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 1.54 and a beta of 0.41. Royal Gold, Inc. has a 1 year low of $150.75 and a 1 year 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. The stock’s fifty day moving average price is $237.29 and its 200-day moving average price is $245.35.

Royal Gold Dividend Announcement

The company 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. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, July 2nd. Royal Gold’s dividend payout ratio (DPR) is 22.65%.

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.