Bessemer Group Inc. Sells 4,693 Shares of Royal Gold, Inc. $RGLD

Bessemer Group Inc. lessened its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 67.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,236 shares of the basic materials company’s stock after selling 4,693 shares during the period. Bessemer Group Inc.’s holdings in Royal Gold were worth $398,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WPG Advisers LLC bought a new position in shares of Royal Gold in the 1st quarter worth $27,000. Cullen Frost Bankers Inc. increased its holdings in shares of Royal Gold by 548.1% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company’s stock worth $31,000 after buying an additional 148 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Royal Gold by 56.8% in the 2nd quarter. Blue Trust Inc. now owns 196 shares of the basic materials company’s stock worth $35,000 after buying an additional 71 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Royal Gold in the 1st quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Royal Gold in the 1st quarter worth $40,000. Institutional investors own 83.65% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on RGLD. CIBC increased their price target on shares of Royal Gold from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. BMO Capital Markets set a $240.00 price objective on shares of Royal Gold and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Bank of America upped their price objective on shares of Royal Gold from $193.00 to $203.00 and gave the company an “underperform” rating in a research note on Thursday, October 16th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Gold in a research note on Thursday, October 23rd. Finally, TD Securities reaffirmed a “buy” rating and issued a $237.00 price objective (up previously from $229.00) on shares of Royal Gold in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Royal Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.44.

Royal Gold Stock Down 1.7%

Shares of RGLD opened at $174.79 on Monday. The stock has a market capitalization of $11.51 billion, a P/E ratio of 25.63, a PEG ratio of 0.96 and a beta of 0.41. The firm has a fifty day simple moving average of $189.13 and a two-hundred day simple moving average of $178.36. Royal Gold, Inc. has a twelve month low of $130.67 and a twelve month high of $209.42.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, August 6th. The basic materials company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.70 by $0.11. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The firm had revenue of $209.64 million during the quarter, compared to analysts’ expectations of $186.63 million. During the same period last year, the company posted $1.25 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. Sell-side analysts expect that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, October 3rd. Royal Gold’s dividend payout ratio (DPR) is currently 26.39%.

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.