Comerica Bank reduced its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 18.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,693 shares of the basic materials company’s stock after selling 12,098 shares during the period. Comerica Bank owned about 0.08% of Royal Gold worth $4,620,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arcadia Investment Management Corp MI bought a new position in Royal Gold during the second quarter worth approximately $104,000. Meadow Creek Investment Management LLC increased its position in Royal Gold by 6.2% in the first quarter. Meadow Creek Investment Management LLC now owns 1,648 shares of the basic materials company’s stock worth $115,000 after buying an additional 96 shares during the period. Neuburgh Advisers LLC increased its position in Royal Gold by 6.2% in the first quarter. Neuburgh Advisers LLC now owns 2,266 shares of the basic materials company’s stock worth $159,000 after buying an additional 132 shares during the period. US Bancorp DE increased its position in Royal Gold by 6.4% in the second quarter. US Bancorp DE now owns 2,120 shares of the basic materials company’s stock worth $166,000 after buying an additional 127 shares during the period. Finally, IFP Advisors Inc increased its position in Royal Gold by 1.7% in the second quarter. IFP Advisors Inc now owns 2,343 shares of the basic materials company’s stock worth $183,000 after buying an additional 39 shares during the period. 70.89% of the stock is owned by institutional investors and hedge funds.
Royal Gold, Inc. (NASDAQ:RGLD) opened at 88.74 on Friday. The firm’s 50-day moving average price is $84.62 and its 200 day moving average price is $75.56. The firm has a market cap of $5.80 billion, a P/E ratio of 57.25 and a beta of 0.68. Royal Gold, Inc. has a 52 week low of $60.21 and a 52 week high of $89.29.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $108.90 million during the quarter, compared to the consensus estimate of $108.72 million. Royal Gold had a return on equity of 4.19% and a net margin of 23.03%. The business’s revenue was up 15.7% on a year-over-year basis. During the same period last year, the company earned $0.32 EPS. Equities analysts forecast that Royal Gold, Inc. will post $1.80 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, October 5th. Royal Gold’s dividend payout ratio (DPR) is 61.54%.
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RGLD has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $95.00 price target on shares of Royal Gold in a research note on Thursday, June 29th. Zacks Investment Research raised Royal Gold from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Wednesday, June 21st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $83.00 price target on shares of Royal Gold in a research note on Monday, June 5th. BidaskClub raised Royal Gold from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $105.00 price target (up previously from $99.00) on shares of Royal Gold in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Royal Gold presently has an average rating of “Buy” and a consensus target price of $91.95.
In other news, CEO Tony A. Jensen sold 25,000 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $85.00, for a total value of $2,125,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Bruce Christopher Kirchhoff sold 28,805 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $86.28, for a total value of $2,485,295.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,393 shares of company stock valued at $6,447,964. Corporate insiders own 1.37% of the company’s stock.
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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