Moore Capital Management LP Purchases New Position in Royal Gold, Inc. $RGLD

Moore Capital Management LP purchased a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 61,138 shares of the basic materials company’s stock, valued at approximately $12,263,000.

Other hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in shares of Royal Gold by 99.5% during the first quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company’s stock worth $27,608,000 after acquiring an additional 84,206 shares during the period. Focus Partners Wealth increased its stake in shares of Royal Gold by 51.5% during the first quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company’s stock worth $1,384,000 after purchasing an additional 2,876 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Royal Gold by 57.5% during the second quarter. PNC Financial Services Group Inc. now owns 8,134 shares of the basic materials company’s stock worth $1,447,000 after purchasing an additional 2,971 shares during the period. Geode Capital Management LLC lifted its holdings in Royal Gold by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,751,136 shares of the basic materials company’s stock worth $311,457,000 after purchasing an additional 61,352 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Royal Gold by 7.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,910 shares of the basic materials company’s stock worth $3,007,000 after purchasing an additional 1,191 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Royal Gold news, Director William M. Hayes sold 4,173 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $277.07, for a total transaction of $1,156,213.11. Following the sale, the director directly owned 6,129 shares in the company, valued at $1,698,162.03. This represents a 40.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark Isto sold 2,000 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $274.83, for a total transaction of $549,660.00. Following the sale, the director owned 20,043 shares in the company, valued at $5,508,417.69. The trade was a 9.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 7,573 shares of company stock worth $2,127,091. Company insiders own 0.49% of the company’s stock.

Royal Gold Trading Down 3.4%

Shares of NASDAQ:RGLD opened at $250.27 on Tuesday. The company has a market capitalization of $21.23 billion, a P/E ratio of 36.75, a P/E/G ratio of 1.56 and a beta of 0.47. Royal Gold, Inc. has a 1 year low of $150.75 and a 1 year high of $306.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.91. The business’s 50 day simple moving average is $274.25 and its 200 day simple moving average is $224.32.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.76). The company had revenue of $360.85 million for the quarter, compared to the consensus estimate of $425.47 million. Royal Gold had a return on equity of 11.89% and a net margin of 45.26%.Royal Gold’s revenue was up 85.2% on a year-over-year basis. During the same quarter last year, the business earned $1.63 EPS. On average, research analysts anticipate that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 2nd will be given a $0.475 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. Royal Gold’s dividend payout ratio (DPR) is presently 27.90%.

Analysts Set New Price Targets

RGLD has been the topic of a number of research reports. TD Cowen upped their price objective on Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Zacks Research downgraded Royal Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Jefferies Financial Group reissued a “buy” rating and issued a $270.00 target price on shares of Royal Gold in a research report on Sunday, December 7th. Canadian Imperial Bank of Commerce restated a “neutral” rating and issued a $330.00 price target on shares of Royal Gold in a research note on Wednesday, February 4th. Finally, Scotiabank lowered shares of Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 price target on the stock. in a research report on Monday, January 26th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Royal Gold has a consensus rating of “Moderate Buy” and a consensus price target of $251.50.

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.