Canoe Financial LP Acquires Shares of 17,437 Royal Gold, Inc. (NASDAQ:RGLD)

Canoe Financial LP bought a new position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the fourth quarter, Holdings Channel.com reports. The firm bought 17,437 shares of the basic materials company’s stock, valued at approximately $2,299,000.

Other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in Royal Gold by 10.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,114 shares of the basic materials company’s stock worth $640,000 after purchasing an additional 471 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Royal Gold by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 806,872 shares of the basic materials company’s stock worth $100,991,000 after buying an additional 156,048 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Royal Gold by 15.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,307 shares of the basic materials company’s stock valued at $1,040,000 after buying an additional 1,104 shares during the period. Hsbc Holdings PLC increased its holdings in Royal Gold by 357.7% during the second quarter. Hsbc Holdings PLC now owns 51,719 shares of the basic materials company’s stock worth $6,473,000 after buying an additional 40,419 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in Royal Gold in the second quarter worth about $1,341,000. 83.65% of the stock is owned by institutional investors.

Insider Activity

In other Royal Gold news, Director William M. Hayes sold 1,984 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $147.05, for a total value of $291,747.20. Following the sale, the director now owns 9,268 shares of the company’s stock, valued at $1,362,859.40. This trade represents a 17.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Daniel Breeze sold 549 shares of Royal Gold stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $150.00, for a total value of $82,350.00. Following the sale, the senior vice president now owns 16,293 shares of the company’s stock, valued at approximately $2,443,950. This trade represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. TD Securities increased their target price on shares of Royal Gold from $181.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Raymond James increased their price objective on Royal Gold from $184.00 to $186.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Jefferies Financial Group raised Royal Gold from a “hold” rating to a “buy” rating and raised their target price for the stock from $154.00 to $178.00 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $168.86.

Royal Gold Stock Performance

NASDAQ:RGLD opened at $138.54 on Friday. Royal Gold, Inc. has a 52-week low of $100.55 and a 52-week high of $155.10. The business’s fifty day moving average is $140.74 and its 200 day moving average is $140.11. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 0.79 and a beta of 0.90.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.13. Royal Gold had a return on equity of 10.18% and a net margin of 42.93%. The firm had revenue of $193.84 million for the quarter, compared to analysts’ expectations of $184.12 million. During the same period in the prior year, the business posted $0.76 earnings per share. The company’s revenue was up 39.8% on a year-over-year basis. Equities analysts predict that Royal Gold, Inc. will post 5.16 EPS for the current fiscal year.

Royal Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.30%. This is an increase from Royal Gold’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 3rd. Royal Gold’s dividend payout ratio (DPR) is presently 41.28%.

About Royal Gold

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.