L2 Asset Management LLC Invests $1.15 Million in Royal Gold, Inc. $RGLD

L2 Asset Management LLC bought a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the second quarter, HoldingsChannel.com reports. The fund bought 5,748 shares of the basic materials company’s stock, valued at approximately $1,147,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Algert Global LLC increased its holdings in Royal Gold by 62.2% in the 2nd quarter. Algert Global LLC now owns 54,060 shares of the basic materials company’s stock valued at $10,791,000 after purchasing an additional 20,740 shares in the last quarter. Winmill & CO. Inc. purchased a new stake in shares of Royal Gold in the second quarter worth about $1,677,000. Cibc World Market Inc. purchased a new stake in shares of Royal Gold in the second quarter worth about $5,734,000. Sanctuary Advisors LLC acquired a new stake in shares of Royal Gold in the second quarter valued at about $305,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Royal Gold during the 2nd quarter valued at about $952,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analyst Upgrades and Downgrades

RGLD has been the subject of a number of analyst reports. Zacks Research cut Royal Gold from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Royal Bank Of Canada dropped their price objective on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. UBS Group boosted their target price on shares of Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Scotiabank restated a “sector perform” rating and issued a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 4th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Royal Gold has a consensus rating of “Hold” and a consensus price target of $285.10.

Insiders Place Their Bets

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total transaction of $107,925.00. Following the completion of the transaction, the senior vice president directly owned 8,582 shares of the company’s stock, valued at $1,852,424.70. This trade represents a 5.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Royal Gold Trading Up 1.8%

NASDAQ:RGLD opened at $263.75 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92. Royal Gold, Inc. has a one year low of $168.88 and a one year high of $306.25. The business’s 50-day simple moving average is $211.14 and its 200 day simple moving average is $236.43. The stock has a market cap of $22.35 billion, a price-to-earnings ratio of 28.79, a price-to-earnings-growth ratio of 1.95 and a beta of 0.44.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.01. The business had revenue of $468.98 million during the quarter, compared to the consensus estimate of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The business’s quarterly revenue was up 114.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.81 earnings per share. As a group, sell-side analysts predict that Royal Gold, Inc. will post 10.32 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 2nd will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, October 2nd. Royal Gold’s dividend payout ratio is 20.74%.

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.