Meyer Handelman Co. Buys 14,572 Shares of Royal Gold, Inc. $RGLD

Meyer Handelman Co. raised its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 40.5% during the 1st quarter, HoldingsChannel reports. The firm owned 50,580 shares of the basic materials company’s stock after purchasing an additional 14,572 shares during the quarter. Meyer Handelman Co.’s holdings in Royal Gold were worth $12,872,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Greenleaf Trust raised its holdings in 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 lifted its position in Royal Gold by 34.1% during the 4th quarter. WPG Advisers LLC now owns 181 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 46 shares during the last quarter. Parcion Private Wealth LLC boosted 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 valued at $378,000 after acquiring an additional 48 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings 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 valued at $598,000 after acquiring an additional 54 shares during the period. Finally, Compound Planning Inc. boosted its holdings 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 valued at $264,000 after acquiring an additional 56 shares during the period. Institutional investors own 83.65% of the company’s stock.

Insider Activity at Royal Gold

In other news, SVP Randy Shefman sold 1,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $243.74, for a total transaction of $243,740.00. Following the completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Royal Gold Price Performance

NASDAQ:RGLD opened at $204.62 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. Royal Gold, Inc. has a one year low of $150.75 and a one year high of $306.25. The company has a fifty day moving average price of $227.89 and a 200 day moving average price of $246.50. The stock has a market cap of $17.37 billion, a P/E ratio of 24.39, a PEG ratio of 1.50 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. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.475 per share. The ex-dividend date is Thursday, July 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.9%. Royal Gold’s payout ratio is presently 22.65%.

Analyst Upgrades and Downgrades

RGLD has been the topic of a number of recent analyst reports. Weiss Ratings lowered Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. UBS Group set a $325.00 target price on Royal Gold and gave the company a “buy” rating in a research note on Wednesday, April 15th. Zacks Research lowered Royal Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Finally, National Bank Financial dropped their price target 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 research 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, Royal Gold has an average rating of “Moderate Buy” and a consensus target price of $280.70.

About Royal Gold

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.