Citigroup Inc. Sells 37,160 Shares of Royal Gold, Inc. $RGLD

Citigroup Inc. lowered its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 46.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,481 shares of the basic materials company’s stock after selling 37,160 shares during the period. Citigroup Inc. owned approximately 0.06% of Royal Gold worth $8,521,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RGLD. Goldman Sachs Group Inc. lifted its holdings in Royal Gold by 99.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company’s stock worth $27,608,000 after purchasing an additional 84,206 shares during the last quarter. Focus Partners Wealth grew its holdings in Royal Gold by 51.5% during the first quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company’s stock valued at $1,384,000 after purchasing an additional 2,876 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Royal Gold by 51.2% in the second quarter. Envestnet Asset Management Inc. now owns 22,791 shares of the basic materials company’s stock valued at $4,053,000 after purchasing an additional 7,716 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Royal Gold in the second quarter worth $1,818,000. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Royal Gold by 5,376.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 712 shares of the basic materials company’s stock worth $127,000 after buying an additional 699 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Insider Buying and Selling

In related news, Director William M. Hayes sold 4,173 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $277.07, for a total value of $1,156,213.11. Following the sale, the director owned 6,129 shares of the company’s stock, valued at $1,698,162.03. The trade was a 40.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is currently owned by corporate insiders.

Royal Gold Trading Up 1.8%

Shares of Royal Gold stock opened at $299.79 on Monday. Royal Gold, Inc. has a 52-week low of $142.95 and a 52-week high of $306.25. The firm has a market capitalization of $25.43 billion, a PE ratio of 44.02, a price-to-earnings-growth ratio of 1.81 and a beta of 0.47. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.91. The company’s fifty day moving average price is $263.60 and its two-hundred day moving average price is $216.33.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.76). Royal Gold had a net margin of 45.26% and a return on equity of 11.89%. The business had revenue of $360.85 million during the quarter, compared to the consensus estimate of $425.47 million. During the same period in the previous year, the firm earned $1.63 EPS. The business’s revenue was up 85.2% compared to the same quarter last year. On average, analysts expect that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 2nd will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, April 2nd. Royal Gold’s dividend payout ratio (DPR) is 27.90%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RGLD shares. Scotiabank downgraded shares of Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 target price on the stock. in a report on Monday, January 26th. Zacks Research cut Royal Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $270.00 target price on shares of Royal Gold in a report on Sunday, December 7th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating and set a $330.00 price target on shares of Royal Gold in a report on Wednesday, February 4th. Finally, TD Cowen increased their price objective on Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $251.50.

Royal Gold Company Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.