Horizon Kinetics Asset Management LLC Cuts Stock Position in Royal Gold, Inc. (NASDAQ:RGLD)

Horizon Kinetics Asset Management LLC cut its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 14.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,367 shares of the basic materials company's stock after selling 12,621 shares during the quarter. Horizon Kinetics Asset Management LLC owned approximately 0.12% of Royal Gold worth $10,714,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of RGLD. DekaBank Deutsche Girozentrale raised its position in shares of Royal Gold by 1,800.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 19,363 shares of the basic materials company's stock worth $2,306,000 after purchasing an additional 18,344 shares during the period. Tidal Investments LLC raised its holdings in Royal Gold by 165.0% during the first quarter. Tidal Investments LLC now owns 10,626 shares of the basic materials company's stock worth $1,294,000 after buying an additional 6,616 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Royal Gold by 357.7% in the second quarter. Hsbc Holdings PLC now owns 51,719 shares of the basic materials company's stock valued at $6,473,000 after buying an additional 40,419 shares in the last quarter. BDF Gestion acquired a new position in shares of Royal Gold during the second quarter valued at about $1,831,000. Finally, Sei Investments Co. increased its position in shares of Royal Gold by 75.8% during the second quarter. Sei Investments Co. now owns 65,293 shares of the basic materials company's stock worth $8,174,000 after acquiring an additional 28,163 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Royal Gold Trading Down 2.8 %

Shares of NASDAQ:RGLD traded down $4.11 during midday trading on Monday, reaching $144.88. The company had a trading volume of 540,765 shares, compared to its average volume of 373,710. The stock has a market cap of $9.53 billion, a P/E ratio of 33.23, a P/E/G ratio of 1.19 and a beta of 0.90. The company's 50 day moving average price is $145.01 and its 200 day moving average price is $136.60. Royal Gold, Inc. has a 52-week low of $100.55 and a 52-week high of $155.10.

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

Royal Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a $0.45 dividend. This is an increase from Royal Gold's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.80 annualized dividend and a yield of 1.24%. Royal Gold's dividend payout ratio is presently 36.70%.

Insider Buying and Selling at Royal Gold

In other Royal Gold news, CFO Paul Libner sold 1,500 shares of the company's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $142.53, for a total transaction of $213,795.00. Following the sale, the chief financial officer now directly owns 18,657 shares of the company's stock, valued at $2,659,182.21. This represents a 7.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William M. Hayes sold 1,984 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $147.05, for a total transaction of $291,747.20. Following the transaction, the director now owns 9,268 shares of the company's stock, valued at $1,362,859.40. This represents a 17.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,924 shares of company stock valued at $1,271,449. Company insiders own 0.52% of the company's stock.

About Royal Gold

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.