Bornite Capital Management LP Buys New Stake in Royal Gold, Inc. (NASDAQ:RGLD)

Bornite Capital Management LP bought a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 100,000 shares of the basic materials company’s stock, valued at approximately $12,181,000. Royal Gold accounts for about 2.0% of Bornite Capital Management LP’s portfolio, making the stock its 20th biggest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in Royal Gold by 224.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 609,760 shares of the basic materials company’s stock valued at $74,276,000 after acquiring an additional 422,026 shares during the period. Quadrature Capital Ltd grew its stake in Royal Gold by 45.7% during the first quarter. Quadrature Capital Ltd now owns 10,339 shares of the basic materials company’s stock worth $1,261,000 after buying an additional 3,242 shares during the last quarter. Gabelli Funds LLC grew its stake in Royal Gold by 2.3% during the first quarter. Gabelli Funds LLC now owns 309,200 shares of the basic materials company’s stock worth $37,664,000 after buying an additional 6,900 shares during the last quarter. Capital International Sarl bought a new stake in Royal Gold during the first quarter worth about $279,000. Finally, EntryPoint Capital LLC grew its stake in Royal Gold by 1,064.4% during the first quarter. EntryPoint Capital LLC now owns 1,176 shares of the basic materials company’s stock worth $143,000 after buying an additional 1,075 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

Insider Buying and Selling

In related news, SVP Daniel Breeze sold 1,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $130.73, for a total transaction of $196,095.00. Following the sale, the senior vice president now directly owns 14,840 shares in the company, valued at $1,940,033.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on RGLD shares. Cibc World Mkts raised shares of Royal Gold to a “hold” rating in a research note on Wednesday, July 10th. CIBC upped their price objective on shares of Royal Gold from $166.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. BMO Capital Markets upped their price objective on shares of Royal Gold from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. Scotiabank increased their price target on shares of Royal Gold from $144.00 to $148.00 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd. Finally, Bank of America increased their price target on shares of Royal Gold from $129.00 to $131.00 and gave the company an “underperform” rating in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Royal Gold currently has an average rating of “Hold” and an average price target of $152.75.

Royal Gold Trading Up 0.4 %

NASDAQ RGLD traded up $0.56 during trading hours on Monday, hitting $135.65. The company’s stock had a trading volume of 229,664 shares, compared to its average volume of 394,840. The stock has a fifty day moving average of $129.49 and a 200 day moving average of $121.27. Royal Gold, Inc. has a twelve month low of $100.55 and a twelve month high of $140.95. The firm has a market capitalization of $8.92 billion, a P/E ratio of 40.01, a PEG ratio of 1.09 and a beta of 0.87. The company has a quick ratio of 2.35, a current ratio of 2.50 and a debt-to-equity ratio of 0.05.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, May 8th. The basic materials company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.04). The firm had revenue of $148.90 million during the quarter, compared to analyst estimates of $147.02 million. Royal Gold had a return on equity of 7.96% and a net margin of 38.12%. The company’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter last year, the business posted $0.96 earnings per share. Equities research analysts forecast that Royal Gold, Inc. will post 4.69 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were issued a $0.40 dividend. The ex-dividend date was Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 1.18%. Royal Gold’s dividend payout ratio (DPR) is presently 47.20%.

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.