First Eagle Investment Management LLC lessened its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 2.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,479,123 shares of the basic materials company's stock after selling 90,085 shares during the quarter. First Eagle Investment Management LLC owned approximately 5.29% of Royal Gold worth $458,722,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new stake in Royal Gold in the 4th quarter worth $25,000. Point72 Hong Kong Ltd purchased a new stake in Royal Gold in the 3rd quarter worth $36,000. Advisors Asset Management Inc. acquired a new stake in Royal Gold during the 3rd quarter worth $38,000. Nomura Asset Management Co. Ltd. boosted its stake in Royal Gold by 61.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 290 shares of the basic materials company's stock worth $41,000 after purchasing an additional 110 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Royal Gold during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 83.65% of the company's stock.
Analyst Ratings Changes
Separately, Jefferies Financial Group raised shares of Royal Gold from a "hold" rating to a "buy" rating and lifted their target price for the stock from $154.00 to $178.00 in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $168.86.
Get Our Latest Report on RGLD
Insider Activity
In related news, SVP Randy Shefman sold 1,300 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $154.98, for a total value of $201,474.00. Following the sale, the senior vice president now directly owns 9,360 shares in the company, valued at approximately $1,450,612.80. The trade was a 12.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.52% of the company's stock.
Royal Gold Stock Performance
Shares of RGLD stock traded down $0.44 on Tuesday, hitting $154.65. 525,469 shares of the stock traded hands, compared to its average volume of 366,779. The firm's 50-day moving average price is $144.71 and its two-hundred day moving average price is $143.45. The stock has a market capitalization of $10.17 billion, a PE ratio of 30.68, a PEG ratio of 3.42 and a beta of 0.84. Royal Gold, Inc. has a twelve month low of $107.33 and a twelve month high of $158.40.
Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.17. Royal Gold had a net margin of 46.15% and a return on equity of 11.46%. On average, equities research analysts anticipate that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.
Royal Gold Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $1.80 annualized dividend and a dividend yield of 1.16%. Royal Gold's payout ratio is 35.71%.
About Royal Gold
(
Free Report)
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.
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