Algert Global LLC Sells 9,500 Shares of Royal Gold, Inc. (NASDAQ:RGLD)

Algert Global LLC lowered its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 31.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,810 shares of the basic materials company's stock after selling 9,500 shares during the quarter. Algert Global LLC's holdings in Royal Gold were worth $2,920,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Advisors Asset Management Inc. acquired a new stake in shares of Royal Gold in the third quarter valued at approximately $38,000. Compagnie Lombard Odier SCmA bought a new position in Royal Gold in the 3rd quarter valued at $49,000. Blue Trust Inc. increased its stake in shares of Royal Gold by 108.7% in the 3rd quarter. Blue Trust Inc. now owns 409 shares of the basic materials company's stock valued at $57,000 after buying an additional 213 shares during the period. Quest Partners LLC bought a new stake in shares of Royal Gold during the third quarter worth $62,000. Finally, Mather Group LLC. acquired a new position in shares of Royal Gold during the second quarter valued at $62,000. Institutional investors own 83.65% of the company's stock.

Royal Gold Price Performance

Shares of NASDAQ RGLD traded down $0.31 during midday trading on Wednesday, reaching $146.00. 78,210 shares of the stock were exchanged, compared to its average volume of 372,092. Royal Gold, Inc. has a 12 month low of $100.55 and a 12 month high of $155.10. The business has a 50-day simple moving average of $145.21 and a two-hundred day simple moving average of $136.87. The company has a market capitalization of $9.60 billion, a price-to-earnings ratio of 33.56, a P/E/G ratio of 1.16 and a beta of 0.90.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its earnings results on Wednesday, November 6th. The basic materials company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.13. The firm had revenue of $193.84 million during the quarter, compared to analysts' expectations of $184.12 million. Royal Gold had a return on equity of 10.18% and a net margin of 42.93%. The company's revenue was up 39.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 earnings per share. Equities research analysts expect that Royal Gold, Inc. will post 5.13 earnings per share for the current fiscal year.

Royal Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.23%. This is a boost from Royal Gold's previous quarterly dividend of $0.40. The ex-dividend date is Friday, January 3rd. Royal Gold's dividend payout ratio is presently 36.70%.

Insider Buying and Selling

In related news, SVP Daniel Breeze sold 840 shares of Royal Gold stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $143.43, for a total value of $120,481.20. Following the sale, the senior vice president now owns 16,842 shares of the company's stock, valued at approximately $2,415,648.06. This trade represents a 4.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William M. Hayes sold 1,984 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $147.05, for a total value of $291,747.20. Following the transaction, the director now directly owns 9,268 shares of the company's stock, valued at approximately $1,362,859.40. This trade represents a 17.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,324 shares of company stock valued at $626,023. 0.52% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RGLD. TD Securities lifted their price objective on Royal Gold from $181.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of Royal Gold from a "hold" rating to a "buy" rating in a research report on Thursday, September 19th. Jefferies Financial Group increased their price objective on shares of Royal Gold from $141.00 to $154.00 and gave the company a "hold" rating in a report on Friday, October 4th. Raymond James raised their price objective on shares of Royal Gold from $184.00 to $186.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. Finally, Scotiabank upped their target price on shares of Royal Gold from $148.00 to $157.00 and gave the company a "sector perform" rating in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $165.43.

Royal Gold Profile

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.