Bank of America Corp DE Has $12.85 Million Position in Royal Gold, Inc. (NASDAQ:RGLD)

Bank of America Corp DE reduced its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 83.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,467 shares of the basic materials company’s stock after selling 502,805 shares during the period. Bank of America Corp DE owned 0.15% of Royal Gold worth $12,851,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in shares of Royal Gold in the fourth quarter valued at $25,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Royal Gold in the fourth quarter valued at $42,000. Jones Financial Companies Lllp grew its stake in shares of Royal Gold by 390.7% in the fourth quarter. Jones Financial Companies Lllp now owns 368 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 293 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Royal Gold by 66.7% in the fourth quarter. IFP Advisors Inc now owns 395 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 158 shares in the last quarter. Finally, Human Investing LLC acquired a new position in shares of Royal Gold in the fourth quarter valued at about $73,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Royal Gold

In other news, SVP Randy Shefman sold 1,300 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $154.98, for a total value of $201,474.00. Following the completion of the transaction, the senior vice president now owns 9,360 shares of the company’s stock, valued at approximately $1,450,612.80. This represents a 12.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.49% of the company’s stock.

Royal Gold Trading Down 1.7%

RGLD stock opened at $176.73 on Friday. The stock has a market capitalization of $11.63 billion, a P/E ratio of 35.07, a price-to-earnings-growth ratio of 3.42 and a beta of 0.48. Royal Gold, Inc. has a 12 month low of $119.72 and a 12 month high of $191.78. The firm has a 50-day moving average price of $171.59 and a 200-day moving average price of $153.23.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, May 7th. The basic materials company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.14. The firm had revenue of $193.44 million during the quarter, compared to analysts’ expectations of $176.17 million. Royal Gold had a net margin of 46.15% and a return on equity of 11.46%. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. As a group, equities analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Thursday, July 3rd will be issued a $0.45 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.02%. Royal Gold’s dividend payout ratio (DPR) is currently 29.80%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. CIBC upped their price target on shares of Royal Gold from $202.00 to $215.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. BMO Capital Markets upped their price target on shares of Royal Gold from $196.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday. Royal Bank of Canada decreased their price target on shares of Royal Gold from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, April 4th. Scotiabank upgraded shares of Royal Gold from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $166.00 to $189.00 in a research note on Monday, April 14th. Finally, Raymond James upped their price target on shares of Royal Gold from $181.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.13.

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.