The Manufacturers Life Insurance Company Acquires New Holdings in Royal Gold, Inc. $RGLD

by · The Markets Daily

The Manufacturers Life Insurance Company bought a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD – Free Report) (TSE:RGL) during the second quarter, Holdings Channel reports. The fund bought 38,132 shares of the basic materials company’s stock, valued at approximately $7,612,000.

A number of other institutional investors have also recently made changes to their positions in RGLD. Bank of Nova Scotia boosted its holdings in Royal Gold by 2.9% in the first quarter. Bank of Nova Scotia now owns 1,526 shares of the basic materials company’s stock valued at $388,000 after acquiring an additional 43 shares during the last quarter. Apollon Wealth Management LLC lifted its position in shares of Royal Gold by 1.5% in the 1st quarter. Apollon Wealth Management LLC now owns 2,905 shares of the basic materials company’s stock worth $739,000 after purchasing an additional 44 shares during the period. Hilltop Holdings Inc. boosted its stake in shares of Royal Gold by 0.6% in the 1st quarter. Hilltop Holdings Inc. now owns 7,432 shares of the basic materials company’s stock valued at $1,891,000 after purchasing an additional 46 shares during the last quarter. Compound Planning Inc. boosted its stake in shares of Royal Gold by 3.3% in the 1st quarter. Compound Planning Inc. now owns 1,493 shares of the basic materials company’s stock valued at $380,000 after purchasing an additional 47 shares during the last quarter. Finally, Strs Ohio increased its position in shares of Royal Gold by 0.6% during the first quarter. Strs Ohio now owns 8,611 shares of the basic materials company’s stock worth $2,191,000 after buying an additional 48 shares during the period. Institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

RGLD has been the topic of several recent analyst reports. Royal Bank Of Canada dropped their target price on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Weiss Ratings lowered Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Jefferies Financial Group cut their target price on Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. UBS Group raised their target price on Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Zacks Research downgraded Royal Gold from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Royal Gold currently has an average rating of “Hold” and an average price target of $285.10.

Check Out Our Latest Report on RGLD

Insider Activity at Royal Gold

In other news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $262.80, for a total transaction of $131,400.00. Following the transaction, the senior vice president directly owned 8,082 shares of the company’s stock, valued at $2,123,949.60. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by corporate insiders.

Royal Gold Price Performance

RGLD stock opened at $262.85 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68. The company’s 50-day moving average is $215.06 and its 200-day moving average is $236.44. The stock has a market capitalization of $22.27 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 1.98 and a beta of 0.44. Royal Gold, Inc. has a 1 year low of $168.88 and a 1 year high of $306.25.

Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) last issued its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.01. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.The business had revenue of $468.98 million during the quarter, compared to analyst estimates of $458.85 million. During the same period in the previous year, the company posted $1.81 EPS. The firm’s revenue was up 114.9% compared to the same quarter last year. Equities research analysts expect that Royal Gold, Inc. will post 10.26 EPS for the current fiscal year.

Royal Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.475 per share. The ex-dividend date is Friday, October 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. Royal Gold’s payout ratio is currently 20.74%.

About Royal Gold

(Free Report)

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.

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