Prudential Financial Inc. reduced its stake in Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 58.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,669 shares of the basic materials company’s stock after selling 59,020 shares during the period. Prudential Financial Inc. owned 0.06% of Royal Gold worth $3,585,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Arcadia Investment Management Corp MI acquired a new position in Royal Gold during the 2nd quarter valued at approximately $104,000. Mountain Capital Investment Advisors Inc acquired a new position in Royal Gold during the 2nd quarter valued at approximately $109,000. Almanack Investment Partners LLC. acquired a new position in Royal Gold during the 2nd quarter valued at approximately $109,000. MUFG Americas Holdings Corp acquired a new position in Royal Gold during the 2nd quarter valued at approximately $117,000. Finally, KBC Group NV acquired a new position in Royal Gold during the 2nd quarter valued at approximately $142,000. Institutional investors and hedge funds own 72.04% of the company’s stock.
In other Royal Gold news, CFO Stefan Wenger sold 1,500 shares of Royal Gold stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $85.00, for a total transaction of $127,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 4,500 shares of company stock worth $383,820 over the last ninety days. 1.12% of the stock is owned by insiders.
A number of research firms have recently weighed in on RGLD. Royal Bank of Canada set a $89.00 price objective on shares of Royal Gold and gave the stock a “buy” rating in a research note on Monday, October 23rd. Zacks Investment Research upgraded shares of Royal Gold from a “hold” rating to a “strong-buy” rating and set a $94.00 price objective on the stock in a research note on Wednesday, December 6th. Eight Capital reiterated a “neutral” rating on shares of Royal Gold in a research note on Thursday, November 16th. BMO Capital Markets set a $105.00 price target on shares of Royal Gold and gave the company a “buy” rating in a research report on Tuesday, November 14th. Finally, Canaccord Genuity restated a “buy” rating and set a $113.00 price target on shares of Royal Gold in a research report on Sunday, October 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five 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 “Hold” and a consensus target price of $96.28.
Royal Gold, Inc (NASDAQ RGLD) opened at $84.07 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.92 and a quick ratio of 3.73. The firm has a market cap of $5,540.05, a PE ratio of 57.58, a PEG ratio of 4.80 and a beta of 0.46. 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 posted its quarterly earnings results on Wednesday, November 1st. The basic materials company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.07. Royal Gold had a net margin of 23.06% and a return on equity of 4.12%. The firm had revenue of $112.50 million for the quarter, compared to the consensus estimate of $112.43 million. During the same period last year, the firm posted $0.46 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. research analysts anticipate that Royal Gold, Inc will post 1.76 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, January 4th. This is an increase from Royal Gold’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.19%. Royal Gold’s payout ratio is 62.34%.
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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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