Pasadena Private Wealth LLC Buys Shares of 3,934 Royal Gold, Inc (NASDAQ:RGLD)

Pasadena Private Wealth LLC bought a new stake in Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,934 shares of the basic materials company’s stock, valued at approximately $403,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RGLD. Envestnet Asset Management Inc. grew its stake in shares of Royal Gold by 0.7% in the second quarter. Envestnet Asset Management Inc. now owns 15,759 shares of the basic materials company’s stock worth $1,615,000 after acquiring an additional 111 shares in the last quarter. 6 Meridian grew its stake in shares of Royal Gold by 2.0% in the second quarter. 6 Meridian now owns 5,850 shares of the basic materials company’s stock worth $600,000 after acquiring an additional 112 shares in the last quarter. Confluence Investment Management LLC grew its stake in shares of Royal Gold by 4.9% in the second quarter. Confluence Investment Management LLC now owns 3,011 shares of the basic materials company’s stock worth $309,000 after acquiring an additional 142 shares in the last quarter. Optimum Investment Advisors grew its stake in shares of Royal Gold by 5.9% in the first quarter. Optimum Investment Advisors now owns 2,675 shares of the basic materials company’s stock worth $243,000 after acquiring an additional 150 shares in the last quarter. Finally, Moerus Capital Management LLC grew its stake in shares of Royal Gold by 1.2% in the first quarter. Moerus Capital Management LLC now owns 12,216 shares of the basic materials company’s stock worth $1,111,000 after acquiring an additional 150 shares in the last quarter. 78.45% of the stock is currently owned by institutional investors.

In related news, VP Mark Isto sold 2,173 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $125.02, for a total value of $271,668.46. Following the completion of the sale, the vice president now directly owns 21,480 shares of the company’s stock, valued at $2,685,429.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Bruce Christopher Kirchhoff sold 9,471 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $93.18, for a total transaction of $882,507.78. Following the completion of the sale, the vice president now directly owns 50,348 shares of the company’s stock, valued at $4,691,426.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 155,952 shares of company stock valued at $16,688,882. 0.95% of the stock is owned by corporate insiders.

Shares of RGLD stock traded down $1.03 on Thursday, reaching $126.85. 7,116 shares of the stock were exchanged, compared to its average volume of 649,012. The company has a current ratio of 4.60, a quick ratio of 4.26 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average price is $117.33 and its 200 day moving average price is $96.84. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 87.61, a PEG ratio of 4.97 and a beta of 0.21. Royal Gold, Inc has a twelve month low of $70.16 and a twelve month high of $131.28.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be given a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 0.84%. Royal Gold’s dividend payout ratio (DPR) is presently 73.10%.

RGLD has been the subject of several research reports. Royal Bank of Canada restated a “hold” rating on shares of Royal Gold in a research note on Sunday, August 11th. TD Securities boosted their target price on shares of Royal Gold from $110.00 to $130.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. BidaskClub upgraded shares of Royal Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. Zacks Investment Research upgraded shares of Royal Gold from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research note on Monday, June 3rd. Finally, Barclays downgraded shares of Royal Gold from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $88.00 to $105.00 in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $110.94.

About Royal Gold

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.

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Institutional Ownership by Quarter for Royal Gold (NASDAQ:RGLD)

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