Pallas Capital Advisors LLC Buys Shares of 11,355 Royal Gold, Inc. $RGLD

Pallas Capital Advisors LLC bought a new position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,355 shares of the basic materials company’s stock, valued at approximately $2,267,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Plancorp LLC boosted its holdings in shares of Royal Gold by 69.8% in the fourth quarter. Plancorp LLC now owns 13,732 shares of the basic materials company’s stock valued at $3,053,000 after buying an additional 5,646 shares during the period. World Investment Advisors acquired a new stake in shares of Royal Gold during the fourth quarter worth $1,024,000. TD Asset Management Inc raised its holdings in shares of Royal Gold by 161.2% during the fourth quarter. TD Asset Management Inc now owns 43,836 shares of the basic materials company’s stock worth $9,744,000 after acquiring an additional 27,051 shares during the period. Vestcor Inc lifted its position in Royal Gold by 62.5% in the 4th quarter. Vestcor Inc now owns 32,177 shares of the basic materials company’s stock valued at $7,153,000 after acquiring an additional 12,381 shares in the last quarter. Finally, WJ Financial Advisors LLC bought a new stake in Royal Gold in the 4th quarter valued at $1,010,000. 83.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Randy Shefman sold 500 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total transaction of $107,925.00. Following the sale, the senior vice president owned 8,582 shares in the company, valued at approximately $1,852,424.70. This trade represents a 5.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on RGLD. Weiss Ratings lowered Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 4th. Royal Bank Of Canada decreased their price objective on Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Scotiabank reissued a “sector perform” rating and issued a $310.00 target price on shares of Royal Gold in a research report on Tuesday, July 14th. UBS Group boosted their target price on Royal Gold from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Zacks Research downgraded Royal Gold from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $285.10.

Royal Gold Trading Up 2.6%

Shares of NASDAQ:RGLD opened at $236.62 on Tuesday. Royal Gold, Inc. has a 52-week low of $166.51 and a 52-week high of $306.25. The company has a market capitalization of $20.05 billion, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.44. The company has a 50-day simple moving average of $206.65 and a 200 day simple moving average of $237.32. 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 (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.01. The firm had revenue of $468.98 million during the quarter, compared to analysts’ expectations of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The company’s revenue for the quarter was up 114.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.81 earnings per share. Sell-side analysts forecast that Royal Gold, Inc. will post 10.33 earnings per share for the current year.

Royal Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 2nd. Royal Gold’s payout ratio is 20.74%.

Royal Gold Company 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.