Canoe Financial LP Acquires New Holdings in Royal Gold, Inc. (NASDAQ:RGLD)

Canoe Financial LP purchased a new position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 17,437 shares of the basic materials company's stock, valued at approximately $2,299,000.

Several other hedge funds also recently made changes to their positions in the business. Merit Financial Group LLC purchased a new stake in Royal Gold in the 4th quarter worth approximately $455,000. BFI Infinity Ltd. bought a new stake in shares of Royal Gold during the 4th quarter worth $311,000. USA Financial Formulas acquired a new position in shares of Royal Gold during the 4th quarter worth about $302,000. Laurel Wealth Advisors LLC bought a new stake in shares of Royal Gold in the fourth quarter valued at approximately $105,000. Finally, BCS Wealth Management acquired a new stake in shares of Royal Gold in the fourth quarter worth $2,722,000. Institutional investors and hedge funds own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Jefferies Financial Group raised shares of Royal Gold from a "hold" rating to a "buy" rating and increased their price target for the company from $154.00 to $178.00 in a report on Tuesday, January 7th. TD Securities boosted their price target on shares of Royal Gold from $181.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Raymond James raised their price objective on shares of Royal Gold from $184.00 to $186.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Royal Gold has an average rating of "Hold" and a consensus target price of $168.86.

Insider Transactions at Royal Gold

In related news, SVP Daniel Breeze sold 549 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $150.00, for a total transaction of $82,350.00. Following the completion of the transaction, the senior vice president now directly owns 16,293 shares of the company's stock, valued at $2,443,950. This trade represents a 3.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William M. Hayes sold 1,984 shares of Royal Gold stock in a transaction on Friday, November 8th. The shares were sold at an average price of $147.05, for a total transaction of $291,747.20. Following the completion of the sale, the director now owns 9,268 shares of the company's stock, valued at $1,362,859.40. This represents a 17.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.52% of the company's stock.

Royal Gold Stock Performance

RGLD traded up $0.24 during trading on Friday, reaching $138.54. 331,266 shares of the company's stock were exchanged, compared to its average volume of 349,276. Royal Gold, Inc. has a fifty-two week low of $100.55 and a fifty-two week high of $155.10. The company's fifty day moving average price is $140.74 and its 200-day moving average price is $140.21. The firm has a market capitalization of $9.11 billion, a PE ratio of 31.78, a P/E/G ratio of 0.79 and a beta of 0.90.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its earnings results on Wednesday, November 6th. The basic materials company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.34 by $0.13. Royal Gold had a net margin of 42.93% and a return on equity of 10.18%. The firm had revenue of $193.84 million for the quarter, compared to the consensus estimate of $184.12 million. During the same period last year, the company posted $0.76 EPS. The business's quarterly revenue was up 39.8% on a year-over-year basis. Research analysts forecast that Royal Gold, Inc. will post 5.16 earnings per share for the current fiscal year.

Royal Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were issued a $0.45 dividend. This is a boost from Royal Gold's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.30%. The ex-dividend date was Friday, January 3rd. Royal Gold's dividend payout ratio is currently 41.28%.

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.