Commerce Bank Takes $491,000 Position in Royal Gold, Inc. $RGLD

Commerce Bank purchased a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 2,461 shares of the basic materials company’s stock, valued at approximately $491,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Royal Gold in the 2nd quarter valued at approximately $2,177,865,000. Vanguard Group Inc. grew its holdings in Royal Gold by 25.0% during the 4th quarter. Vanguard Group Inc. now owns 8,398,944 shares of the basic materials company’s stock worth $1,867,001,000 after acquiring an additional 1,681,577 shares during the last quarter. Capital International Investors bought a new stake in Royal Gold during the 4th quarter worth approximately $332,026,000. Van ECK Associates Corp increased its position in Royal Gold by 18.1% in the 4th quarter. Van ECK Associates Corp now owns 5,900,432 shares of the basic materials company’s stock valued at $1,311,607,000 after acquiring an additional 905,488 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Royal Gold by 89.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,855,877 shares of the basic materials company’s stock valued at $412,543,000 after acquiring an additional 874,329 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Royal Gold Stock Performance

NASDAQ:RGLD opened at $268.96 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92. Royal Gold, Inc. has a fifty-two week low of $168.88 and a fifty-two week high of $306.25. The company has a 50 day simple moving average of $214.10 and a two-hundred day simple moving average of $236.55. The company has a market capitalization of $22.79 billion, a PE ratio of 29.36, a P/E/G ratio of 2.00 and a beta of 0.44.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.01. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The firm had revenue of $468.98 million for the quarter, compared to the consensus estimate of $458.85 million. During the same quarter in the previous year, the company earned $1.81 EPS. The company’s revenue for the quarter was up 114.9% on a year-over-year basis. Research analysts anticipate that Royal Gold, Inc. will post 10.26 earnings per share for the current year.

Royal Gold Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Randy Shefman sold 500 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total value of $107,925.00. Following the transaction, the senior vice president owned 8,582 shares in the company, valued at $1,852,424.70. The trade was a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their price target on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Weiss Ratings cut shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Scotiabank restated a “sector perform” rating and issued a $310.00 price objective on shares of Royal Gold in a report on Tuesday, July 14th. Jefferies Financial Group lowered their target price on Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Finally, UBS Group lifted their target price on Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $285.10.

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.