State of Wisconsin Investment Board decreased its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,825 shares of the basic materials company’s stock after selling 490 shares during the period. State of Wisconsin Investment Board’s holdings in Royal Gold were worth $893,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of RGLD. Morgan Stanley boosted its position in shares of Royal Gold by 97.6% in the first quarter. Morgan Stanley now owns 2,430,978 shares of the basic materials company’s stock worth $261,622,000 after buying an additional 1,200,902 shares during the period. First Eagle Investment Management LLC boosted its position in shares of Royal Gold by 30.9% in the first quarter. First Eagle Investment Management LLC now owns 3,476,354 shares of the basic materials company’s stock worth $374,125,000 after buying an additional 821,293 shares during the period. NFJ Investment Group LLC purchased a new stake in shares of Royal Gold in the first quarter worth about $37,906,000. Amundi Asset Management US Inc. boosted its position in shares of Royal Gold by 376.8% in the first quarter. Amundi Asset Management US Inc. now owns 198,229 shares of the basic materials company’s stock worth $21,334,000 after buying an additional 156,658 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Royal Gold by 3.1% in the second quarter. Van ECK Associates Corp now owns 3,486,057 shares of the basic materials company’s stock worth $397,759,000 after buying an additional 105,508 shares during the period. 79.30% of the stock is owned by institutional investors.
In other news, CFO Paul Libner sold 921 shares of the stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $112.58, for a total transaction of $103,686.18. Following the sale, the chief financial officer now directly owns 15,198 shares in the company, valued at approximately $1,710,990.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Randy Shefman sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $111.19, for a total value of $111,190.00. Following the sale, the vice president now owns 8,006 shares in the company, valued at $890,187.14. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, August 11th. The basic materials company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Royal Gold had a return on equity of 9.79% and a net margin of 49.12%. The company had revenue of $168.03 million for the quarter, compared to the consensus estimate of $168.85 million. Analysts anticipate that Royal Gold, Inc. will post 4.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Friday, October 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, September 30th. Royal Gold’s dividend payout ratio is presently 33.43%.
RGLD has been the subject of several analyst reports. TD Securities decreased their target price on Royal Gold from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 13th. KeyCorp started coverage on Royal Gold in a report on Friday, September 24th. They issued a “sector weight” rating for the company. Raymond James reduced their price target on Royal Gold from $146.00 to $136.00 and set an “outperform” rating for the company in a report on Wednesday. National Bank Financial reduced their price target on Royal Gold from C$160.00 to C$155.00 and set a “sector perform” rating for the company in a report on Friday, September 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $117.21 price target on shares of Royal Gold in a report on Monday, July 26th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $140.32.
Royal Gold Profile
Royal Gold, Inc engages in the acquisition and management of metal streams, royalties, and similar interests. It operates through the following segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. The Acquisition and Management of Stream Interests segment involves in the purchase agreement that provides, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals.
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