Parallel Advisors LLC Raises Holdings in Royal Gold, Inc. (NASDAQ:RGLD)

Parallel Advisors LLC lifted its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,752 shares of the basic materials company’s stock after buying an additional 183 shares during the quarter. Parallel Advisors LLC’s holdings in Royal Gold were worth $344,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new stake in Royal Gold in the first quarter worth about $36,000. Janiczek Wealth Management LLC lifted its position in shares of Royal Gold by 321.8% in the 1st quarter. Janiczek Wealth Management LLC now owns 426 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 325 shares during the period. Fortis Group Advisors LLC lifted its position in shares of Royal Gold by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 446 shares of the basic materials company’s stock worth $54,000 after purchasing an additional 223 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Royal Gold by 31.3% during the fourth quarter. Quadrant Capital Group LLC now owns 487 shares of the basic materials company’s stock valued at $59,000 after purchasing an additional 116 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in Royal Gold during the second quarter valued at approximately $62,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Royal Gold Stock Down 0.8 %

Shares of Royal Gold stock opened at $139.14 on Thursday. The company has a 50 day moving average price of $136.84 and a 200 day moving average price of $127.61. The firm has a market capitalization of $9.15 billion, a P/E ratio of 41.04, a PEG ratio of 1.13 and a beta of 0.90. Royal Gold, Inc. has a 52 week low of $100.55 and a 52 week high of $145.59.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. Royal Gold had a net margin of 39.15% and a return on equity of 8.74%. The business had revenue of $174.10 million during the quarter, compared to the consensus estimate of $172.12 million. During the same period in the previous year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, research analysts anticipate that Royal Gold, Inc. will post 4.7 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $1.60 annualized dividend and a yield of 1.15%. Royal Gold’s payout ratio is presently 47.20%.

Insider Activity

In related news, CFO Paul Libner sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $142.53, for a total value of $213,795.00. Following the sale, the chief financial officer now owns 18,657 shares in the company, valued at $2,659,182.21. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Royal Gold news, SVP Randy Shefman sold 4,600 shares of Royal Gold stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $140.31, for a total transaction of $645,426.00. Following the completion of the transaction, the senior vice president now owns 7,430 shares in the company, valued at approximately $1,042,503.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul Libner sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $142.53, for a total value of $213,795.00. Following the completion of the sale, the chief financial officer now owns 18,657 shares in the company, valued at approximately $2,659,182.21. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,355 shares of company stock valued at $1,170,315. Company insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on RGLD shares. BMO Capital Markets increased their target price on Royal Gold from $168.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. Raymond James raised their price objective on Royal Gold from $167.00 to $170.00 and gave the company an “outperformer” rating in a research report on Friday, August 9th. Scotiabank lifted their target price on Royal Gold from $148.00 to $157.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. Jefferies Financial Group increased their price target on shares of Royal Gold from $130.00 to $141.00 and gave the company a “hold” rating in a research report on Friday, July 12th. Finally, CIBC lifted their price objective on shares of Royal Gold from $166.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Royal Gold currently has an average rating of “Hold” and an average price target of $157.00.

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.