Meyer Handelman Co. Makes New $8 Million Investment in Royal Gold, Inc. $RGLD

Meyer Handelman Co. bought a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 36,008 shares of the basic materials company’s stock, valued at approximately $8,004,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Royal Gold in the 3rd quarter valued at about $29,000. Bank & Trust Co grew its position in shares of Royal Gold by 600.0% during the 4th quarter. Bank & Trust Co now owns 140 shares of the basic materials company’s stock valued at $31,000 after buying an additional 120 shares during the last quarter. Sunbelt Securities Inc. raised 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 period. Caldwell Trust Co acquired a new stake in Royal Gold during the second quarter worth about $36,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Royal Gold by 33.9% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 221 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 56 shares during the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RGLD shares. Zacks Research downgraded Royal Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Scotiabank downgraded Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 price target on the stock. in a report on Monday, January 26th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Gold in a research report on Thursday, January 22nd. Jefferies Financial Group restated a “buy” rating and set a $270.00 price objective on shares of Royal Gold in a research note on Sunday, December 7th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating and issued a $330.00 target price on shares of Royal Gold in a research report on Wednesday, February 4th. Seven 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $251.50.

Royal Gold Trading Up 6.6%

Royal Gold stock opened at $254.49 on Wednesday. Royal Gold, Inc. has a 52-week low of $150.75 and a 52-week high of $306.25. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $21.58 billion, a price-to-earnings ratio of 37.37, a PEG ratio of 1.40 and a beta of 0.48. The firm has a 50-day moving average price of $269.94 and a two-hundred day moving average price of $228.26.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.92 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.76). The firm had revenue of $310.83 million during the quarter, compared to analyst estimates of $425.47 million. Royal Gold had a net margin of 45.26% and a return on equity of 11.89%. Royal Gold’s revenue for the quarter was up 85.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.63 EPS. Sell-side analysts expect that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Thursday, April 2nd will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.90 annualized dividend and a yield of 0.7%. Royal Gold’s payout ratio is presently 27.90%.

Insider Buying and Selling at Royal Gold

In other Royal Gold news, Director William M. Hayes sold 4,173 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $277.07, for a total transaction of $1,156,213.11. Following the completion of the transaction, the director owned 6,129 shares in the company, valued at approximately $1,698,162.03. The trade was a 40.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Daniel Breeze sold 1,400 shares of the stock in a transaction on Monday, March 2nd. The stock was 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 directly owned 20,140 shares of the company’s stock, valued at approximately $6,059,521.80. The trade was a 6.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,573 shares of company stock valued at $2,127,091 in the last quarter. Corporate insiders own 0.49% of the company’s stock.

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.