Bank of New York Mellon Corp Buys 212,316 Shares of Royal Gold, Inc. (NASDAQ:RGLD)

Bank of New York Mellon Corp lifted its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 34.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 834,986 shares of the basic materials company’s stock after purchasing an additional 212,316 shares during the quarter. Bank of New York Mellon Corp’s holdings in Royal Gold were worth $104,507,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new stake in shares of Royal Gold during the first quarter worth about $36,000. Janiczek Wealth Management LLC grew its position in shares of Royal Gold by 321.8% during the first quarter. Janiczek Wealth Management LLC now owns 426 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 325 shares in the last quarter. Fortis Group Advisors LLC grew its position in shares of Royal Gold by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 446 shares of the basic materials company’s stock worth $54,000 after purchasing an additional 223 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Royal Gold by 31.3% during the fourth quarter. Quadrant Capital Group LLC now owns 487 shares of the basic materials company’s stock worth $59,000 after purchasing an additional 116 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in Royal Gold during the 2nd quarter valued at approximately $62,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Jefferies Financial Group raised their price target on Royal Gold from $130.00 to $141.00 and gave the company a “hold” rating in a report on Friday, July 12th. Scotiabank raised their price target on Royal Gold from $148.00 to $157.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. BMO Capital Markets raised their price target on Royal Gold from $168.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. Bank of America boosted their target price on Royal Gold from $129.00 to $131.00 and gave the company an “underperform” rating in a research report on Wednesday, June 26th. Finally, Cibc World Mkts raised Royal Gold to a “hold” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Royal Gold has a consensus rating of “Hold” and an average target price of $157.00.

Insider Transactions at Royal Gold

In related news, Director Ronald J. Vance sold 415 shares of Royal Gold stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $140.85, for a total value of $58,452.75. Following the completion of the sale, the director now directly owns 8,194 shares in the company, valued at $1,154,124.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Ronald J. Vance sold 1,000 shares of Royal Gold stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $132.16, for a total transaction of $132,160.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $1,203,845.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronald J. Vance sold 415 shares of Royal Gold stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $140.85, for a total transaction of $58,452.75. Following the transaction, the director now directly owns 8,194 shares in the company, valued at $1,154,124.90. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

Royal Gold Trading Up 0.2 %

Shares of RGLD opened at $141.80 on Wednesday. Royal Gold, Inc. has a 12-month low of $100.55 and a 12-month high of $142.32. The firm has a fifty day moving average price of $133.13 and a 200-day moving average price of $124.12. The firm has a market capitalization of $9.32 billion, a P/E ratio of 41.83, a P/E/G ratio of 1.10 and a beta of 0.87.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, August 7th. The basic materials company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Royal Gold had a net margin of 39.15% and a return on equity of 8.74%. The business had revenue of $174.10 million for the quarter, compared to the consensus estimate of $172.12 million. During the same period in the prior year, the firm earned $0.88 EPS. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. Analysts predict that Royal Gold, Inc. will post 4.7 earnings per share for the current year.

Royal Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Friday, October 4th. Royal Gold’s dividend payout ratio is 47.20%.

Royal Gold Company Profile

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.