L2 Asset Management LLC Acquires 3,247 Shares of Royal Gold, Inc. $RGLD

L2 Asset Management LLC increased its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 105.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,316 shares of the basic materials company’s stock after buying an additional 3,247 shares during the period. L2 Asset Management LLC’s holdings in Royal Gold were worth $1,404,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of RGLD. Van ECK Associates Corp raised its stake in shares of Royal Gold by 104.1% during the third quarter. Van ECK Associates Corp now owns 4,994,944 shares of the basic materials company’s stock worth $1,001,885,000 after buying an additional 2,547,076 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Royal Gold by 25.0% during the fourth quarter. Vanguard Group Inc. now owns 8,398,944 shares of the basic materials company’s stock worth $1,867,001,000 after buying an additional 1,681,577 shares during the last quarter. Capital International Investors bought a new stake in shares of Royal Gold during the fourth quarter worth approximately $332,026,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Royal Gold by 89.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,855,877 shares of the basic materials company’s stock worth $412,543,000 after buying an additional 874,329 shares during the last quarter. Finally, Nuveen LLC raised its stake in shares of Royal Gold by 457.5% during the fourth quarter. Nuveen LLC now owns 925,906 shares of the basic materials company’s stock worth $205,820,000 after buying an additional 759,810 shares during the last quarter. 83.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Royal Gold news, SVP Randy Shefman sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $243.74, for a total value of $243,740.00. Following the completion of the sale, the senior vice president owned 9,082 shares of the company’s stock, valued at approximately $2,213,646.68. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Royal Gold Stock Up 3.8%

Shares of NASDAQ:RGLD opened at $215.52 on Tuesday. Royal Gold, Inc. has a 52 week low of $150.75 and a 52 week high of $306.25. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.26 and a current ratio of 3.52. The company has a market capitalization of $18.29 billion, a PE ratio of 25.69, a PEG ratio of 1.54 and a beta of 0.42. The company has a 50 day moving average price of $236.35 and a two-hundred day moving average price of $245.90.

Royal Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, July 2nd. Royal Gold’s dividend payout ratio is presently 22.65%.

Analyst Upgrades and Downgrades

RGLD has been the subject of a number of recent analyst reports. National Bank Financial lowered their price target on Royal Gold from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Zacks Research cut Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Weiss Ratings cut Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. Finally, UBS Group set a $325.00 target price on shares of Royal Gold and gave the company a “buy” rating in a research note on Wednesday, April 15th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $280.70.

About Royal Gold

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.