Assenagon Asset Management S.A. Makes New Investment in Royal Gold, Inc. $RGLD

Assenagon Asset Management S.A. bought a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,885 shares of the basic materials company’s stock, valued at approximately $3,025,000.

Several other institutional investors have also modified their holdings of the company. Greenleaf Trust grew its holdings in shares of Royal Gold by 2.9% in the 4th quarter. Greenleaf Trust now owns 1,538 shares of the basic materials company’s stock worth $342,000 after acquiring an additional 43 shares during the period. WPG Advisers LLC raised its holdings in Royal Gold by 34.1% during the fourth quarter. WPG Advisers LLC now owns 181 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 46 shares during the last quarter. Parcion Private Wealth LLC raised its holdings in Royal Gold by 2.9% during the fourth quarter. Parcion Private Wealth LLC now owns 1,701 shares of the basic materials company’s stock worth $378,000 after purchasing an additional 48 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in Royal Gold by 2.0% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 2,689 shares of the basic materials company’s stock worth $598,000 after purchasing an additional 54 shares in the last quarter. Finally, Compound Planning Inc. boosted its position in Royal Gold by 4.4% during the third quarter. Compound Planning Inc. now owns 1,315 shares of the basic materials company’s stock worth $264,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Insider Activity

In related news, SVP Randy Shefman sold 500 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total transaction of $107,925.00. Following the completion of the sale, the senior vice president owned 8,582 shares of the company’s stock, valued at approximately $1,852,424.70. This represents a 5.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.

Royal Gold Trading Down 1.2%

Royal Gold stock opened at $199.61 on Wednesday. The stock has a 50-day moving average price of $224.08 and a 200 day moving average price of $246.49. Royal Gold, Inc. has a 52 week low of $150.75 and a 52 week high of $306.25. The stock has a market cap of $16.94 billion, a PE ratio of 23.79, a P/E/G ratio of 1.50 and a beta of 0.41. The company has a current ratio of 3.52, a quick ratio of 3.26 and a debt-to-equity ratio of 0.08.

Royal Gold Dividend Announcement

The business 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 of this dividend is Thursday, July 2nd. This represents a $1.90 annualized dividend and a dividend yield of 1.0%. Royal Gold’s payout ratio is currently 22.65%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RGLD. UBS Group lowered their target price on Royal Gold from $325.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday. Zacks Research lowered shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. 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. Finally, Weiss Ratings downgraded shares of Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $276.20.

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.