Royal Gold, Inc. (NASDAQ:RGLD) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its stake in Royal Gold, Inc. (NASDAQ:RGLDGet Rating) (TSE:RGL) by 17.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,029 shares of the basic materials company’s stock after selling 4,279 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Royal Gold were worth $2,139,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in RGLD. JFS Wealth Advisors LLC increased its stake in Royal Gold by 1,458.3% in the first quarter. JFS Wealth Advisors LLC now owns 187 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 175 shares during the last quarter. Prospera Financial Services Inc acquired a new stake in shares of Royal Gold during the 1st quarter worth approximately $26,000. National Bank of Canada FI increased its position in Royal Gold by 280.0% in the 2nd quarter. National Bank of Canada FI now owns 247 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 182 shares during the period. 1832 Asset Management L.P. acquired a new stake in Royal Gold in the 1st quarter valued at approximately $51,000. Finally, Privium Fund Management B.V. bought a new position in Royal Gold during the 2nd quarter valued at $204,000. 78.04% of the stock is owned by institutional investors and hedge funds.

Royal Gold Price Performance

Shares of NASDAQ RGLD opened at $104.40 on Friday. The firm has a market cap of $6.85 billion, a PE ratio of 27.33, a PEG ratio of 3.25 and a beta of 0.59. The company has a current ratio of 2.82, a quick ratio of 2.61 and a debt-to-equity ratio of 0.16. Royal Gold, Inc. has a 1-year low of $84.54 and a 1-year high of $147.70. The company has a fifty day moving average price of $95.55 and a 200 day moving average price of $103.38.

Royal Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 20th. Investors of record on Friday, January 6th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Thursday, January 5th. This is a positive change from Royal Gold’s previous quarterly dividend of $0.35. This represents a $1.50 dividend on an annualized basis and a yield of 1.44%. Royal Gold’s dividend payout ratio is presently 36.65%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RGLD shares. BMO Capital Markets cut their price objective on Royal Gold from $142.00 to $140.00 and set a “market perform” rating for the company in a report on Thursday, August 4th. Barclays cut their price objective on Royal Gold from $110.00 to $108.00 and set an “equal weight” rating for the company in a report on Monday, October 17th. Raymond James cut their price objective on Royal Gold from $141.00 to $138.00 and set an “outperform” rating for the company in a report on Friday, November 4th. Eight Capital dropped their price objective on Royal Gold to $143.00 in a research note on Thursday, October 27th. Finally, StockNews.com downgraded Royal Gold from a “hold” rating to a “sell” rating in a report on Friday, November 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $135.64.

Royal Gold Company Profile

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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, and cobalt.

See Also

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

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