Comerica Bank Has $2.79 Million Stock Position in Royal Gold, Inc. (NASDAQ:RGLD)

Comerica Bank reduced its position in shares of Royal Gold, Inc. (NASDAQ:RGLDGet Rating) (TSE:RGL) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,558 shares of the basic materials company’s stock after selling 602 shares during the quarter. Comerica Bank’s holdings in Royal Gold were worth $2,791,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in shares of Royal Gold by 5.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,676 shares of the basic materials company’s stock worth $345,000 after purchasing an additional 203 shares during the last quarter. Strs Ohio raised its stake in shares of Royal Gold by 23.2% in the third quarter. Strs Ohio now owns 17,502 shares of the basic materials company’s stock worth $1,642,000 after purchasing an additional 3,299 shares during the last quarter. Mirabella Financial Services LLP purchased a new stake in shares of Royal Gold in the third quarter worth approximately $271,000. Wipfli Financial Advisors LLC purchased a new stake in shares of Royal Gold in the third quarter worth approximately $66,000. Finally, Raymond James & Associates raised its stake in shares of Royal Gold by 34.8% in the third quarter. Raymond James & Associates now owns 63,845 shares of the basic materials company’s stock worth $5,990,000 after purchasing an additional 16,483 shares during the last quarter. 78.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Royal Gold

In other news, CFO Paul Libner sold 250 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $115.00, for a total value of $28,750.00. Following the completion of the transaction, the chief financial officer now directly owns 14,265 shares of the company’s stock, valued at $1,640,475. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Royal Gold Price Performance

Shares of NASDAQ RGLD opened at $123.86 on Wednesday. The stock has a fifty day simple moving average of $112.53 and a two-hundred day simple moving average of $102.93. Royal Gold, Inc. has a 1-year low of $84.54 and a 1-year high of $147.70. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 32.42, a price-to-earnings-growth ratio of 3.47 and a beta of 0.62. 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 (NASDAQ:RGLDGet Rating) (TSE:RGL) last announced its quarterly earnings data on Wednesday, November 2nd. The basic materials company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.01). Royal Gold had a net margin of 41.19% and a return on equity of 8.84%. The firm had revenue of $131.43 million for the quarter. Analysts anticipate that Royal Gold, Inc. will post 3.26 earnings per share for the current year.

Royal Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 20th. Stockholders of record on Friday, January 6th will be issued a $0.375 dividend. 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 dividend yield of 1.21%. The ex-dividend date is Thursday, January 5th. Royal Gold’s dividend payout ratio (DPR) is presently 39.27%.

Analysts Set New Price Targets

RGLD has been the subject of several analyst reports. Credit Suisse Group initiated coverage on Royal Gold in a research note on Monday, December 12th. They issued a “neutral” rating and a $120.00 price objective for the company. StockNews.com raised Royal Gold from a “sell” rating to a “hold” rating in a report on Thursday, December 1st. Barclays reduced their target price 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 upped their target price on Royal Gold from $138.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 6th. Finally, National Bankshares upped their target price on Royal Gold from $120.00 to $150.00 and gave the company a “sector perform” rating in a report on Friday, January 13th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Gold has a consensus rating of “Moderate Buy” and an average price target of $138.09.

Royal Gold Company Profile

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Royal Gold, Inc engages in the acquisition and management of precious metal streams, royalties, and similar interests. It operates through the following segments: Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests. The Acquisition and Management of Stream Interests segment focuses on metal streams, which are purchase agreements that provide, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals produced, at a price determined for the life of the transaction.

See Also

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

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