Clear Harbor Asset Management LLC Buys Shares of 5,628 Royal Gold, Inc. $RGLD

Clear Harbor Asset Management LLC bought a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the 4th quarter, Holdings Channel.com reports. The fund bought 5,628 shares of the basic materials company’s stock, valued at approximately $1,251,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elyxium Wealth LLC purchased a new position in Royal Gold in the fourth quarter valued at about $27,000. Trust Co. of Toledo NA OH purchased a new position in Royal Gold in the fourth quarter valued at about $30,000. V Square Quantitative Management LLC purchased a new position in Royal Gold in the fourth quarter valued at about $30,000. Bank & Trust Co grew its stake in Royal Gold by 600.0% in the fourth quarter. Bank & Trust Co now owns 140 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 120 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in Royal Gold in the third quarter valued at about $29,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Royal Gold Price Performance

Shares of NASDAQ RGLD opened at $217.86 on Tuesday. The business’s 50 day moving average price is $242.13 and its 200 day moving average price is $244.35. The firm has a market cap of $18.49 billion, a P/E ratio of 25.97, a P/E/G ratio of 1.67 and a beta of 0.42. 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 3.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.08.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 2nd will be given a $0.475 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.9%. Royal Gold’s dividend payout ratio is currently 22.65%.

Insider Buying and Selling

In related news, Director Mark Isto sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $274.83, for a total value of $549,660.00. Following the sale, the director owned 20,043 shares in the company, valued at $5,508,417.69. This represents a 9.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Randy Shefman sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $243.74, for a total value of $243,740.00. Following the completion of the sale, the senior vice president owned 9,082 shares in the company, valued at approximately $2,213,646.68. This represents a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.35% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on RGLD. UBS Group set a $325.00 target price on Royal Gold and gave the company a “buy” rating in a research note on Wednesday, April 15th. National Bank Financial dropped their price target on Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Canadian Imperial Bank of Commerce restated a “neutral” rating and set a $330.00 price target on shares of Royal Gold in a research note on Wednesday, February 4th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Gold in a research note on Tuesday, April 21st. Finally, Zacks Research lowered Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Royal Gold presently has a consensus rating of “Moderate Buy” and an average price target of $273.64.

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.