Confluence Investment Management LLC Sells 236 Shares of Royal Gold, Inc. (RGLD)

Confluence Investment Management LLC reduced its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 5.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,102 shares of the basic materials company’s stock after selling 236 shares during the period. Confluence Investment Management LLC’s holdings in Royal Gold were worth $321,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Capstone Asset Management Co. boosted its stake in shares of Royal Gold by 1.9% in the second quarter. Capstone Asset Management Co. now owns 10,286 shares of the basic materials company’s stock valued at $804,000 after buying an additional 190 shares during the period. America First Investment Advisors LLC boosted its stake in shares of Royal Gold by 2.4% in the second quarter. America First Investment Advisors LLC now owns 146,867 shares of the basic materials company’s stock valued at $11,481,000 after buying an additional 3,505 shares during the period. Hexavest Inc. boosted its stake in shares of Royal Gold by 22.5% in the second quarter. Hexavest Inc. now owns 2,898 shares of the basic materials company’s stock valued at $227,000 after buying an additional 532 shares during the period. State Street Corp boosted its stake in shares of 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 buying an additional 108,212 shares during the period. Finally, Two Sigma Securities LLC purchased a new stake in shares of Royal Gold during the first quarter valued at about $323,000. 70.57% of the stock is currently owned by hedge funds and other institutional investors.

Royal Gold, Inc. (RGLD) traded down 0.49% on Tuesday, reaching $84.53. The company had a trading volume of 582,041 shares. Royal Gold, Inc. has a 1-year low of $60.21 and a 1-year high of $87.90. The company’s 50-day moving average price is $80.74 and its 200 day moving average price is $73.80. The firm has a market capitalization of $5.52 billion, a P/E ratio of 54.01 and a beta of 0.68.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, May 10th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.02. The firm had revenue of $107 million for the quarter, compared to analyst estimates of $105.14 million. Royal Gold had a return on equity of 4.22% and a net margin of 23.93%. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 EPS. On average, equities analysts forecast that Royal Gold, Inc. will post $1.65 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.14%. Royal Gold’s payout ratio is currently 61.15%.

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Several equities research analysts have recently issued reports on the company. BidaskClub raised Royal Gold from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Zacks Investment Research cut Royal Gold from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Macquarie cut Royal Gold from an “outperform” rating to a “neutral” rating in a report on Wednesday, July 12th. BMO Capital Markets reaffirmed a “buy” rating and issued a $95.00 target price on shares of Royal Gold in a report on Thursday, June 29th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating and issued a $88.00 target price on shares of Royal Gold in a report on Thursday, June 15th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Royal Gold currently has an average rating of “Buy” and a consensus target price of $89.77.

In related news, CEO Tony A. Jensen sold 25,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $85.00, for a total transaction of $2,125,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stefan Wenger sold 500 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 58,129 shares of company stock valued at $4,774,160 in the last ninety days. 1.37% of the stock is currently owned by corporate insiders.

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.

Institutional Ownership by Quarter for Royal Gold (NASDAQ:RGLD)

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