AGF Management Ltd. Purchases New Position in Royal Gold, Inc. $RGLD

AGF Management Ltd. acquired a new position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,161 shares of the basic materials company’s stock, valued at approximately $3,643,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financiere des Professionnels Fonds d investissement inc. increased its position in Royal Gold by 275.8% during the third quarter. Financiere des Professionnels Fonds d investissement inc. now owns 6,656 shares of the basic materials company’s stock worth $1,335,000 after buying an additional 4,885 shares during the last quarter. Ilex Capital Partners UK LLP bought a new stake in shares of Royal Gold during the 2nd quarter worth about $1,397,000. Ruffer LLP bought a new stake in shares of Royal Gold during the 3rd quarter worth about $16,636,000. Campbell & CO Investment Adviser LLC increased its holdings in shares of Royal Gold by 576.4% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 35,119 shares of the basic materials company’s stock valued at $7,044,000 after acquiring an additional 29,927 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of Royal Gold by 1,124.0% in the 2nd quarter. Neuberger Berman Group LLC now owns 109,863 shares of the basic materials company’s stock valued at $19,512,000 after acquiring an additional 100,887 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RGLD shares. Scotiabank cut Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 target price for the company. in a research report on Monday, January 26th. Wall Street Zen downgraded shares of Royal Gold from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. BMO Capital Markets set a $240.00 target price on shares of Royal Gold and gave the stock an “outperform” rating in a report on Tuesday, October 21st. TD Cowen boosted their target price on shares of Royal Gold from $261.00 to $263.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Finally, Raymond James Financial set a $264.00 price target on Royal Gold in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $243.50.

Royal Gold Trading Up 2.2%

Shares of RGLD opened at $265.17 on Wednesday. Royal Gold, Inc. has a 12-month low of $140.00 and a 12-month high of $306.25. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $22.38 billion, a price-to-earnings ratio of 36.42, a P/E/G ratio of 0.71 and a beta of 0.49. The stock’s 50-day moving average price is $238.03 and its 200 day moving average price is $201.01.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.24). The firm had revenue of $250.23 million for the quarter, compared to analyst estimates of $275.11 million. Royal Gold had a return on equity of 14.14% and a net margin of 55.99%.Royal Gold’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.47 EPS. As a group, research analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a $0.475 dividend. The ex-dividend date was Friday, January 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.7%. This is a positive change from Royal Gold’s previous quarterly dividend of $0.45. Royal Gold’s dividend payout ratio is currently 26.10%.

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.