The Manufacturers Life Insurance Company Decreases Stake in Royal Gold, Inc. $RGLD

The Manufacturers Life Insurance Company lowered its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 26.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 42,394 shares of the basic materials company’s stock after selling 14,865 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Royal Gold were worth $10,789,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Elyxium Wealth LLC bought a new stake in Royal Gold during the fourth quarter worth $27,000. Gen Wealth Partners Inc purchased a new stake in shares of Royal Gold during the 4th quarter valued at $27,000. Scarborough Advisors LLC bought a new stake in shares of Royal Gold during the 1st quarter worth $32,000. Trust Co. of Toledo NA OH bought a new stake in shares of Royal Gold during the 4th quarter worth $30,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Royal Gold in the 4th quarter worth about $30,000. 83.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Randy Shefman sold 1,000 shares of Royal Gold stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $243.74, for a total value of $243,740.00. Following the completion of the transaction, the senior vice president directly owned 9,082 shares in the company, valued at approximately $2,213,646.68. The trade was a 9.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.35% of the company’s stock.

Royal Gold Price Performance

Shares of NASDAQ:RGLD opened at $202.04 on Tuesday. The firm has a market capitalization of $17.15 billion, a PE ratio of 24.08, a P/E/G ratio of 1.45 and a beta of 0.44. The company has a quick ratio of 3.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $204.95 and a two-hundred day moving average price of $240.87. Royal Gold, Inc. has a twelve month low of $154.32 and a twelve month high of $306.25.

Royal Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were issued a $0.475 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.90 annualized dividend and a yield of 0.9%. Royal Gold’s dividend payout ratio (DPR) is 22.65%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings lowered shares of Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Royal Bank Of Canada dropped their target price on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Jefferies Financial Group reduced their target price on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research report on Monday, July 6th. National Bank Financial decreased their price target on shares of Royal Gold from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Finally, UBS Group lowered their price target on shares of Royal Gold from $325.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $280.27.

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.