MQS Management LLC lowered its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD – Get Rating) (TSE:RGL) by 53.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,278 shares of the basic materials company’s stock after selling 2,615 shares during the period. MQS Management LLC’s holdings in Royal Gold were worth $214,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of Royal Gold by 1.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 840,006 shares of the basic materials company’s stock worth $78,811,000 after buying an additional 11,395 shares during the last quarter. IHT Wealth Management LLC boosted its stake in shares of Royal Gold by 17.8% in the 3rd quarter. IHT Wealth Management LLC now owns 5,444 shares of the basic materials company’s stock worth $511,000 after buying an additional 821 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Royal Gold in the 3rd quarter worth approximately $917,000. Captrust Financial Advisors boosted its stake in shares of Royal Gold by 116.6% in the 3rd quarter. Captrust Financial Advisors now owns 2,617 shares of the basic materials company’s stock worth $246,000 after buying an additional 1,409 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its stake in shares of Royal Gold by 182.6% in the 3rd quarter. Baird Financial Group Inc. now owns 92,879 shares of the basic materials company’s stock worth $8,714,000 after buying an additional 60,009 shares during the last quarter. Institutional investors and hedge funds own 78.13% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on RGLD shares. StockNews.com upgraded Royal Gold from a “sell” rating to a “hold” rating in a research note on Saturday. TD Securities upped their price objective on Royal Gold from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, January 6th. Raymond James upped their price objective on Royal Gold from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, January 31st. 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 on the stock. Finally, BMO Capital Markets upped their price objective on Royal Gold from $134.00 to $135.00 and gave the company a “market perform” rating in a research note on Wednesday, January 11th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $140.20.
Insider Transactions at Royal Gold
Royal Gold Trading Up 4.5 %
Shares of RGLD stock opened at $125.45 on Friday. The company’s fifty day simple moving average is $122.93 and its two-hundred day simple moving average is $108.80. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.92 and a quick ratio of 2.72. Royal Gold, Inc. has a 1 year low of $84.54 and a 1 year high of $147.70. The stock has a market capitalization of $8.23 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 3.18 and a beta of 0.63.
Royal Gold (NASDAQ:RGLD – Get Rating) (TSE:RGL) last issued its earnings results on Wednesday, February 15th. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. Royal Gold had a net margin of 39.62% and a return on equity of 8.36%. The business had revenue of $162.98 million for the quarter, compared to analysts’ expectations of $153.04 million. During the same quarter in the previous year, the firm posted $1.05 EPS. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, analysts anticipate that Royal Gold, Inc. will post 3.77 earnings per share for the current year.
Royal Gold Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 21st. Shareholders of record on Thursday, April 6th will be issued a dividend of $0.375 per share. The ex-dividend date is Wednesday, April 5th. This represents a $1.50 dividend on an annualized basis and a yield of 1.20%. Royal Gold’s payout ratio is 41.21%.
Royal Gold Profile
Royal Gold, Inc engages in the acquisition and management of precious metal streams, royalties, and similar interests. It operates through the Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests segments. 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.
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