Polar Asset Management Partners Inc. Takes $1.61 Million Position in Royal Gold, Inc. $RGLD

Polar Asset Management Partners Inc. acquired a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the third quarter, Holdings Channel.com reports. The fund acquired 8,012 shares of the basic materials company’s stock, valued at approximately $1,607,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new position in Royal Gold in the third quarter valued at approximately $29,000. Sunbelt Securities Inc. increased its stake in Royal Gold by 8,400.0% during the third quarter. Sunbelt Securities Inc. now owns 170 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 168 shares during the last quarter. Caldwell Trust Co purchased a new stake in Royal Gold in the second quarter valued at $36,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Royal Gold by 33.9% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 221 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 56 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of Royal Gold in the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Royal Gold Price Performance

RGLD stock opened at $225.07 on Friday. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $19.09 billion, a PE ratio of 33.05, a P/E/G ratio of 1.40 and a beta of 0.48. Royal Gold, Inc. has a 12-month low of $150.75 and a 12-month high of $306.25. The business’s fifty day moving average price is $274.10 and its 200 day moving average price is $224.99.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results 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 firm had revenue of $360.85 million for the quarter, compared to analysts’ expectations of $425.47 million. Royal Gold had a net margin of 45.26% and a return on equity of 11.89%. The business’s revenue was up 85.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.63 earnings per share. On average, sell-side analysts anticipate that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, April 2nd. Royal Gold’s dividend payout ratio is currently 27.90%.

Wall Street Analysts Forecast Growth

RGLD has been the subject of a number of recent analyst reports. Scotiabank downgraded Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 price objective for the company. in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating and set a $330.00 target price on shares of Royal Gold in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Gold in a research report on Thursday, January 22nd. Zacks Research downgraded shares of Royal Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $270.00 price objective on shares of Royal Gold in a report on Sunday, December 7th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.50.

Insider Activity

In other news, SVP Daniel Breeze sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $300.87, for a total value of $421,218.00. Following the completion of the transaction, the senior vice president owned 20,140 shares of the company’s stock, valued at approximately $6,059,521.80. This trade represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Isto sold 2,000 shares of Royal Gold stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $274.83, for a total transaction of $549,660.00. Following the completion of the transaction, the director owned 20,043 shares of the company’s stock, valued at $5,508,417.69. This trade represents a 9.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 7,573 shares of company stock valued at $2,127,091. 0.49% of the stock is currently owned by company insiders.

Royal Gold 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.