Bornite Capital Management LP Takes $12.18 Million Position in Royal Gold, Inc. (NASDAQ:RGLD)

Bornite Capital Management LP bought a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 100,000 shares of the basic materials company’s stock, valued at approximately $12,181,000. Royal Gold makes up 2.0% of Bornite Capital Management LP’s portfolio, making the stock its 20th biggest holding. Bornite Capital Management LP owned about 0.15% of Royal Gold as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. purchased a new position in shares of Royal Gold in the fourth quarter valued at approximately $27,000. Larson Financial Group LLC increased its holdings in shares of Royal Gold by 526.3% in the fourth quarter. Larson Financial Group LLC now owns 238 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Royal Gold in the fourth quarter valued at approximately $31,000. Fidelis Capital Partners LLC acquired a new stake in shares of Royal Gold in the first quarter valued at approximately $36,000. Finally, Lindbrook Capital LLC increased its holdings in shares of Royal Gold by 414.9% in the fourth quarter. Lindbrook Capital LLC now owns 381 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 307 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on RGLD. Cibc World Mkts raised Royal Gold to a “hold” rating in a report on Wednesday, July 10th. Scotiabank raised their target price on Royal Gold from $144.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. Bank of America raised their target price on Royal Gold from $129.00 to $131.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 26th. Jefferies Financial Group raised their target price on Royal Gold from $130.00 to $141.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Finally, BMO Capital Markets raised their target price on Royal Gold from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $152.75.

Insiders Place Their Bets

In other news, SVP Daniel Breeze sold 1,500 shares of Royal Gold stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $130.73, for a total transaction of $196,095.00. Following the sale, the senior vice president now owns 14,840 shares in the company, valued at $1,940,033.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by company insiders.

Royal Gold Trading Up 0.4 %

Shares of NASDAQ RGLD traded up $0.56 during trading on Monday, reaching $135.65. The stock had a trading volume of 229,664 shares, compared to its average volume of 394,840. Royal Gold, Inc. has a fifty-two week low of $100.55 and a fifty-two week high of $140.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.35 and a current ratio of 2.50. The business’s 50-day moving average price is $129.49 and its 200-day moving average price is $121.27. The company has a market cap of $8.92 billion, a P/E ratio of 40.01, a PEG ratio of 1.09 and a beta of 0.87.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, May 8th. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). The company had revenue of $148.90 million during the quarter, compared to analysts’ expectations of $147.02 million. Royal Gold had a net margin of 38.12% and a return on equity of 7.96%. The company’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter last year, the business posted $0.96 earnings per share. On average, equities research analysts predict that Royal Gold, Inc. will post 4.69 EPS for the current fiscal year.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Friday, July 5th. Royal Gold’s dividend payout ratio (DPR) 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.