Moran Wealth Management LLC Buys 2,887 Shares of Royal Gold, Inc. $RGLD

Moran Wealth Management LLC increased its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 26.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 13,840 shares of the basic materials company’s stock after purchasing an additional 2,887 shares during the period. Moran Wealth Management LLC’s holdings in Royal Gold were worth $3,522,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Elyxium Wealth LLC purchased a new stake in shares of Royal Gold in the fourth quarter worth about $27,000. Gen Wealth Partners Inc bought a new position in shares of Royal Gold in the fourth quarter valued at approximately $27,000. Trust Co. of Toledo NA OH purchased a new position in Royal Gold during the fourth quarter valued at approximately $30,000. V Square Quantitative Management LLC purchased a new position in Royal Gold during the fourth quarter valued at approximately $30,000. Finally, Bank & Trust Co increased its holdings in Royal Gold by 600.0% during the 4th quarter. Bank & Trust Co now owns 140 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 120 shares during the period. Institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Zacks Research cut shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. 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. UBS Group decreased their price target on shares of Royal Gold from $325.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, National Bank Financial lowered their price objective on Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $276.20.

Royal Gold Price Performance

Shares of NASDAQ RGLD opened at $204.13 on Monday. Royal Gold, Inc. has a 12 month low of $150.75 and a 12 month high of $306.25. The company has a current ratio of 3.52, a quick ratio of 3.26 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $17.32 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.52 and a beta of 0.44. The business has a 50-day moving average of $220.84 and a 200-day moving average of $246.16.

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 paid a $0.475 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.90 annualized dividend and a yield of 0.9%. Royal Gold’s dividend payout ratio is currently 22.65%.

Insider Buying and Selling

In other news, SVP Randy Shefman sold 1,000 shares of the company’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is owned by insiders.

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.