Advisory Services Network LLC Sells 47 Shares of Royal Gold, Inc. (RGLD)
Advisory Services Network LLC decreased its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 0.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,364 shares of the basic materials company’s stock after selling 47 shares during the quarter. Advisory Services Network LLC’s holdings in Royal Gold were worth $2,139,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Royal Gold by 1.3% in the second quarter. Vanguard Group Inc. now owns 5,851,247 shares of the basic materials company’s stock valued at $457,392,000 after acquiring an additional 73,112 shares during the period. Capital World Investors lifted its holdings in Royal Gold by 25.7% in the second quarter. Capital World Investors now owns 4,158,000 shares of the basic materials company’s stock valued at $325,031,000 after acquiring an additional 849,900 shares during the period. First Eagle Investment Management LLC lifted its holdings in Royal Gold by 2.2% in the second quarter. First Eagle Investment Management LLC now owns 3,479,449 shares of the basic materials company’s stock valued at $271,989,000 after acquiring an additional 73,384 shares during the period. State Street Corp lifted its holdings in Royal Gold by 4.8% in the first quarter. State Street Corp now owns 2,354,371 shares of the basic materials company’s stock valued at $164,922,000 after acquiring an additional 108,212 shares during the period. Finally, Northern Trust Corp lifted its holdings in Royal Gold by 0.6% in the second quarter. Northern Trust Corp now owns 776,708 shares of the basic materials company’s stock valued at $60,715,000 after acquiring an additional 4,266 shares during the period. 70.34% of the stock is currently owned by institutional investors.
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A number of research firms have weighed in on RGLD. BMO Capital Markets reissued a “buy” rating and issued a $95.00 target price on shares of Royal Gold in a report on Thursday, June 29th. National Bank Financial raised their price objective on Royal Gold from $82.50 to $92.50 and gave the stock a “sector perform” rating in a research note on Thursday, August 10th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Royal Gold in a research note on Thursday, September 7th. Zacks Investment Research downgraded Royal Gold from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, FBR & Co raised their price objective on Royal Gold from $81.00 to $85.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Royal Gold currently has a consensus rating of “Buy” and a consensus price target of $92.68.
In other news, CFO Stefan Wenger sold 1,129 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $85.00, for a total value of $95,965.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Karli S. Anderson sold 2,262 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $91.45, for a total value of $206,859.90. Following the completion of the sale, the vice president now owns 20,081 shares in the company, valued at approximately $1,836,407.45. The disclosure for this sale can be found here. Insiders sold 106,345 shares of company stock worth $9,279,753 in the last 90 days. Company insiders own 1.12% of the company’s stock.
Shares of Royal Gold, Inc. (NASDAQ RGLD) traded down 0.66% during mid-day trading on Friday, reaching $88.22. The company had a trading volume of 324,564 shares. The stock has a 50 day moving average of $89.79 and a 200-day moving average of $81.18. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 56.92 and a beta of 0.57. Royal Gold, Inc. has a 52 week low of $60.21 and a 52 week high of $94.39.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, August 9th. The basic materials company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). Royal Gold had a return on equity of 4.19% and a net margin of 23.03%. The company had revenue of $108.90 million during the quarter, compared to analysts’ expectations of $108.72 million. During the same quarter in the previous year, the company earned $0.32 EPS. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, analysts expect that Royal Gold, Inc. will post $1.80 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.09%. Royal Gold’s payout ratio is 61.54%.
Royal Gold Company Profile
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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