Fifth Third Bancorp Boosts Stock Holdings in Royal Gold, Inc. $RGLD

Fifth Third Bancorp boosted its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 2,497.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,938 shares of the basic materials company’s stock after purchasing an additional 22,055 shares during the quarter. Fifth Third Bancorp’s holdings in Royal Gold were worth $5,837,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC increased its stake in Royal Gold by 52.8% in the 4th quarter. SG Americas Securities LLC now owns 17,671 shares of the basic materials company’s stock worth $3,928,000 after acquiring an additional 6,109 shares during the last quarter. Louisbourg Investments Inc. purchased a new stake in shares of Royal Gold during the 4th quarter worth approximately $3,938,000. Plancorp LLC boosted its position in shares of 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 acquiring an additional 5,646 shares during the last quarter. World Investment Advisors bought a new position in shares of Royal Gold during the 4th quarter valued at approximately $1,024,000. Finally, Bar Harbor Wealth Management purchased a new position in shares of Royal Gold in the fourth quarter valued at $7,916,000. Institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RGLD shares. National Bank Financial reduced their price target on shares of Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. Weiss Ratings lowered shares of Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Zacks Research raised shares of Royal Gold from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Jefferies Financial Group reduced their target price on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Finally, Royal Bank Of Canada decreased their target price on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $280.27.

Insider Buying and Selling

In other Royal Gold news, SVP Randy Shefman sold 1,000 shares of the 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

Royal Gold Stock Down 1.0%

Shares of NASDAQ:RGLD opened at $191.18 on Friday. The firm has a market capitalization of $16.23 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 1.36 and a beta of 0.44. The business has a 50 day simple moving average of $213.06 and a two-hundred day simple moving average of $244.06. 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.

Royal Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd were given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 2nd. Royal Gold’s dividend payout ratio 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.