Royal Gold, Inc. $RGLD Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd lowered its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 31.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 385,272 shares of the basic materials company’s stock after selling 178,466 shares during the quarter. Ninety One UK Ltd’s holdings in Royal Gold were worth $90,924,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in RGLD. BlackRock Inc. purchased a new stake in Royal Gold during the 2nd quarter worth $2,177,865,000. Bank of New York Mellon Corp acquired a new stake in Royal Gold in the 2nd quarter valued at $150,762,000. Findlay Park Partners LLP acquired a new stake in Royal Gold in the 2nd quarter valued at $111,392,000. Bank of America Corp DE acquired a new stake in Royal Gold in the 2nd quarter valued at $88,124,000. Finally, Deutsche Bank AG purchased a new position in Royal Gold in the second quarter valued at about $69,325,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RGLD shares. Royal Bank Of Canada boosted their price objective on Royal Gold from $305.00 to $325.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Weiss Ratings raised Royal Gold from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. TD increased their target price on Royal Gold from $289.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Jefferies Financial Group lowered their target price on Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, Scotiabank reiterated a “sector perform” rating and set a $310.00 target price on shares of Royal Gold in a report on Tuesday, July 14th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Royal Gold presently has an average rating of “Moderate Buy” and a consensus target price of $289.64.

Insider Transactions at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $262.80, for a total value of $131,400.00. Following the sale, the senior vice president directly owned 8,082 shares of the company’s stock, valued at $2,123,949.60. This represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is owned by corporate insiders.

Royal Gold Stock Up 3.0%

Shares of RGLD traded up $6.64 during trading on Thursday, reaching $231.48. The company’s stock had a trading volume of 158,773 shares, compared to its average volume of 840,619. The company has a fifty day moving average of $246.15 and a two-hundred day moving average of $231.30. Royal Gold, Inc. has a twelve month low of $168.88 and a twelve month high of $306.25. The company has a market cap of $19.61 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 1.75 and a beta of 0.45. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, beating the consensus estimate of $2.55 by $0.01. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%. The company had revenue of $468.98 million during the quarter, compared to analysts’ expectations of $458.85 million. During the same period in the prior year, the business posted $1.81 EPS. The business’s revenue was up 114.9% on a year-over-year basis. On average, sell-side analysts predict that Royal Gold, Inc. will post 10.30 EPS for the current fiscal year.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be paid a $0.4750 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, October 2nd. Royal Gold’s payout ratio is 20.74%.

Royal Gold Company Profile

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. Rather than operating mines directly, the company finances mining projects and acquires interests that provide rights to purchase a portion of the metals produced from those operations or to receive royalty payments based on mine revenue.

Royal Gold’s portfolio is primarily focused on gold, with additional exposure to silver, copper and other metals. Its interests include streaming agreements and royalties associated with projects such as Pueblo Viejo in the Dominican Republic and Mount Milligan in British Columbia, Canada.