Chase Investment Counsel Corp Purchases New Stake in Royal Gold, Inc. $RGLD

Chase Investment Counsel Corp bought a new position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,260 shares of the basic materials company’s stock, valued at approximately $1,656,000.

A number of other large investors have also modified their holdings of RGLD. Compound Planning Inc. lifted its position in Royal Gold by 4.4% during the 3rd quarter. Compound Planning Inc. now owns 1,315 shares of the basic materials company’s stock worth $264,000 after acquiring an additional 56 shares in the last quarter. Dana Investment Advisors Inc. grew its position in Royal Gold by 2.4% in the third quarter. Dana Investment Advisors Inc. now owns 22,592 shares of the basic materials company’s stock valued at $4,532,000 after acquiring an additional 525 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Royal Gold by 4,191.3% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 987 shares of the basic materials company’s stock valued at $198,000 after purchasing an additional 964 shares during the period. Rossby Financial LCC acquired a new position in shares of Royal Gold during the third quarter worth $112,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Royal Gold during the third quarter worth $343,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating and set a $330.00 price target on shares of Royal Gold in a research note on Wednesday, February 4th. TD Cowen lifted their target price on Royal Gold from $261.00 to $263.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Raymond James Financial set a $264.00 price target on Royal Gold in a research note on Thursday, November 6th. Zacks Research lowered Royal Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $270.00 target price on shares of Royal Gold in a research note on Sunday, December 7th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Royal Gold presently has an average rating of “Moderate Buy” and an average price target of $251.50.

Insiders Place Their Bets

In other Royal Gold news, Director William M. Hayes sold 4,173 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $277.07, for a total value of $1,156,213.11. Following the transaction, the director owned 6,129 shares of the company’s stock, valued at $1,698,162.03. This trade represents a 40.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.49% of the stock is currently owned by company insiders.

Royal Gold Stock Performance

RGLD stock opened at $285.21 on Tuesday. The stock’s 50 day simple moving average is $258.04 and its 200 day simple moving average is $212.91. Royal Gold, Inc. has a 12-month low of $142.95 and a 12-month high of $306.25. The firm has a market cap of $24.19 billion, a P/E ratio of 41.88, a P/E/G ratio of 0.85 and a beta of 0.49. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.12.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.76). Royal Gold had a net margin of 45.26% and a return on equity of 11.89%. The business had revenue of $360.85 million for the quarter, compared to the consensus estimate of $425.47 million. During the same quarter in the previous year, the firm earned $1.63 EPS. The firm’s revenue for the quarter was up 85.2% on a year-over-year basis. As a group, equities research analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current year.

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.