Royal Gold, Inc. (NASDAQ:RGLD) Position Reduced by Martingale Asset Management L P

Martingale Asset Management L P reduced its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 4.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 80,596 shares of the basic materials company's stock after selling 3,871 shares during the period. Martingale Asset Management L P owned approximately 0.12% of Royal Gold worth $11,308,000 at the end of the most recent reporting period.

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

Royal Gold Stock Up 0.4 %

Shares of RGLD stock traded up $0.59 during trading hours on Friday, hitting $146.26. 163,300 shares of the company were exchanged, compared to its average volume of 372,705. Royal Gold, Inc. has a 1 year low of $100.55 and a 1 year high of $155.10. The firm has a fifty day moving average of $145.49 and a 200 day moving average of $137.13. The firm has a market cap of $9.62 billion, a PE ratio of 33.55, a PEG ratio of 1.07 and a beta of 0.90.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its earnings results on Wednesday, November 6th. The basic materials company reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.13. The firm had revenue of $193.84 million for 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 firm's revenue for the quarter was up 39.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. Analysts expect that Royal Gold, Inc. will post 5.14 earnings per share for the current year.

Royal Gold Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on RGLD shares. StockNews.com upgraded shares of Royal Gold from a "hold" rating to a "buy" rating in a research report on Thursday, September 19th. 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. Raymond James increased their target price on Royal Gold from $184.00 to $186.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Jefferies Financial Group raised their price target on Royal Gold from $141.00 to $154.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. Finally, Scotiabank upped their price objective on 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Royal Gold currently has an average rating of "Hold" and a consensus price target of $165.43.

Insider Buying and Selling

In other Royal Gold news, SVP Daniel Breeze sold 840 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $143.43, for a total value of $120,481.20. Following the completion of the sale, the senior vice president now owns 16,842 shares of the company's stock, valued at $2,415,648.06. This trade represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William M. Hayes sold 1,984 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $147.05, for a total transaction of $291,747.20. Following the completion of the transaction, the director now owns 9,268 shares of the company's stock, valued at $1,362,859.40. This trade represents a 17.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.