Canoe Financial LP Makes New Investment in Royal Gold, Inc. (NASDAQ:RGLD)

Canoe Financial LP purchased a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 17,437 shares of the basic materials company’s stock, valued at approximately $2,299,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. boosted its position in Royal Gold by 61.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 290 shares of the basic materials company’s stock valued at $41,000 after buying an additional 110 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Royal Gold by 2.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 5,330 shares of the basic materials company’s stock valued at $748,000 after buying an additional 122 shares during the last quarter. Larson Financial Group LLC boosted its position in Royal Gold by 51.7% during the 3rd quarter. Larson Financial Group LLC now owns 361 shares of the basic materials company’s stock worth $51,000 after buying an additional 123 shares during the period. Private Advisor Group LLC increased its position in Royal Gold by 2.6% in the 3rd quarter. Private Advisor Group LLC now owns 5,840 shares of the basic materials company’s stock valued at $819,000 after acquiring an additional 150 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of Royal Gold by 15.4% in the third quarter. UMB Bank n.a. now owns 1,145 shares of the basic materials company’s stock worth $161,000 after purchasing an additional 153 shares during the last quarter. 83.65% of the stock is owned by institutional investors.

Insider Transactions at Royal Gold

In other news, Director William M. Hayes sold 1,984 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $147.05, for a total value of $291,747.20. Following the transaction, the director now owns 9,268 shares in the company, valued at $1,362,859.40. This trade represents a 17.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Daniel Breeze sold 549 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $150.00, for a total value of $82,350.00. Following the sale, the senior vice president now owns 16,293 shares of the company’s stock, valued at $2,443,950. This trade represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.

Royal Gold Stock Up 0.2 %

Shares of NASDAQ RGLD opened at $138.54 on Friday. Royal Gold, Inc. has a 12-month low of $100.55 and a 12-month high of $155.10. The firm has a market cap of $9.11 billion, a PE ratio of 31.78, a P/E/G ratio of 0.79 and a beta of 0.90. The company’s fifty day simple moving average is $140.74 and its 200 day simple moving average is $140.11.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.13. Royal Gold had a return on equity of 10.18% and a net margin of 42.93%. The company had revenue of $193.84 million for the quarter, compared to analyst estimates of $184.12 million. During the same period in the prior year, the firm earned $0.76 earnings per share. Royal Gold’s revenue for the quarter was up 39.8% on a year-over-year basis. On average, equities analysts predict that Royal Gold, Inc. will post 5.16 earnings per share for the current year.

Royal Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.45 per share. This is a boost from Royal Gold’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, January 3rd. Royal Gold’s dividend payout ratio (DPR) is currently 41.28%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RGLD. Raymond James raised their target price on Royal Gold from $184.00 to $186.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. TD Securities lifted their price objective on Royal Gold from $181.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group raised shares of Royal Gold from a “hold” rating to a “buy” rating and increased their target price for the company from $154.00 to $178.00 in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $168.86.

Royal Gold Company Profile

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.