Royal Gold, Inc. $RGLD Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 33.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 834,789 shares of the basic materials company’s stock after purchasing an additional 209,851 shares during the quarter. Bank of New York Mellon Corp’s holdings in Royal Gold were worth $185,565,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in Royal Gold by 84.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 228,933 shares of the basic materials company’s stock worth $50,890,000 after buying an additional 104,611 shares during the period. Natixis Advisors LLC raised its stake in Royal Gold by 26.9% in the fourth quarter. Natixis Advisors LLC now owns 17,595 shares of the basic materials company’s stock valued at $3,911,000 after buying an additional 3,732 shares in the last quarter. New Mexico Educational Retirement Board increased its stake in Royal Gold by 24.6% in the fourth quarter. New Mexico Educational Retirement Board now owns 16,700 shares of the basic materials company’s stock valued at $3,712,000 after purchasing an additional 3,300 shares during the last quarter. Ellevest Inc. increased its stake in Royal Gold by 337.2% in the fourth quarter. Ellevest Inc. now owns 4,490 shares of the basic materials company’s stock valued at $998,000 after purchasing an additional 3,463 shares during the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new position in Royal Gold in the fourth quarter valued at $1,251,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Insider Activity at Royal Gold

In related news, SVP Randy Shefman sold 1,000 shares of the company’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 transaction of $243,740.00. Following the transaction, the senior vice president owned 9,082 shares of the company’s stock, valued at approximately $2,213,646.68. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark Isto sold 2,000 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $274.83, for a total value of $549,660.00. Following the completion of the transaction, the director owned 20,043 shares of the company’s stock, valued at $5,508,417.69. The trade was a 9.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on RGLD. Zacks Research lowered shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. UBS Group set a $325.00 target price on shares of Royal Gold and gave the stock a “buy” rating in a research note on Wednesday, April 15th. National Bank Financial reduced their target price on shares of Royal Gold from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Royal Gold in a research note on Tuesday, April 21st. Eight 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, the company presently has an average rating of “Moderate Buy” and an average target price of $273.64.

Royal Gold Trading Down 6.4%

Shares of RGLD opened at $206.07 on Friday. 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 firm has a 50 day simple moving average of $241.41 and a 200-day simple moving average of $244.70. Royal Gold, Inc. has a 1-year low of $150.75 and a 1-year high of $306.25. The stock has a market cap of $17.49 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 1.63 and a beta of 0.41.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 2nd will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.9%. Royal Gold’s dividend payout ratio (DPR) is presently 22.65%.

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.