BI Asset Management Fondsmaeglerselskab A S Takes $7.17 Million Position in Royal Gold, Inc. $RGLD

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 28,173 shares of the basic materials company’s stock, valued at approximately $7,170,000.

A number of other large investors have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its position in shares of Royal Gold by 99.5% in the first 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 period. Focus Partners Wealth boosted its holdings in shares of Royal Gold by 51.5% during the 1st quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company’s stock worth $1,384,000 after buying an additional 2,876 shares during the period. Brown Advisory Inc. grew its stake in Royal Gold by 28.9% in the 2nd quarter. Brown Advisory Inc. now owns 3,551 shares of the basic materials company’s stock valued at $631,000 after buying an additional 796 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in Royal Gold by 43.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 188,247 shares of the basic materials company’s stock valued at $33,478,000 after buying an additional 56,621 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in Royal Gold by 4.6% in the 2nd quarter. NewEdge Advisors LLC now owns 24,551 shares of the basic materials company’s stock valued at $4,366,000 after buying an additional 1,072 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RGLD shares. Zacks Research downgraded shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. UBS Group set a $325.00 target price on Royal Gold and gave the company a “buy” rating in a research report on Wednesday, April 15th. Weiss Ratings lowered Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Finally, National Bank Financial dropped their price target on Royal Gold from $350.00 to $340.00 and set an “outperform” rating for the company in a report on Friday, April 17th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $280.70.

Royal Gold Price Performance

Shares of RGLD opened at $214.82 on Monday. Royal Gold, Inc. has a 52 week low of $150.75 and a 52 week high of $306.25. The stock has a market capitalization of $18.23 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.60 and a beta of 0.42. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.26 and a current ratio of 3.52. The stock has a fifty day moving average of $232.70 and a 200-day moving average of $246.34.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, July 2nd. Royal Gold’s dividend payout ratio is presently 22.65%.

Insider Activity

In related news, SVP Randy Shefman sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $243.74, for a total value of $243,740.00. Following the completion of the transaction, the senior vice president owned 9,082 shares in the company, valued at $2,213,646.68. This trade represents a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.

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.