Acadian Asset Management LLC Sells 90,478 Shares of Royal Gold, Inc. $RGLD

Key Points

• Acadian Asset Management LLC reduced its stake in Royal Gold, Inc. by 39.8%, holding approximately 0.21% of the company's stock valued at $22.41 million after selling 90,478 shares in the first quarter.
• Analyst ratings for Royal Gold include a recent upgrade to a "buy" by Wall Street Zen, with a consensus price target of $198.63 and a mix of buy and hold ratings from various firms.
• Royal Gold has declared a $0.45 quarterly dividend to be paid on October 17th, representing an annualized yield of 1.0% and a total payout ratio of 26.39%.

Acadian Asset Management LLC lessened its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 39.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 137,130 shares of the basic materials company's stock after selling 90,478 shares during the quarter. Acadian Asset Management LLC owned approximately 0.21% of Royal Gold worth $22,411,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of RGLD. WPG Advisers LLC acquired a new stake in Royal Gold during the 1st quarter worth approximately $27,000. Alpine Bank Wealth Management acquired a new position in shares of Royal Gold during the 1st quarter worth approximately $32,000. Banque Cantonale Vaudoise acquired a new stake in Royal Gold in the first quarter valued at $34,000. Bayforest Capital Ltd grew its holdings in Royal Gold by 256.5% during the first quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company's stock worth $40,000 after purchasing an additional 177 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Royal Gold during the 1st quarter worth approximately $40,000. Institutional investors own 83.65% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RGLD shares. BMO Capital Markets set a $197.00 target price on shares of Royal Gold and gave the company a "market perform" rating in a research report on Thursday, May 22nd. Wall Street Zen raised Royal Gold from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Canaccord Genuity Group increased their price objective on shares of Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. TD Securities reiterated a "buy" rating and issued a $237.00 price objective (up previously from $229.00) on shares of Royal Gold in a research note on Friday, August 8th. Finally, Zacks Research downgraded Royal Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $198.63.

Royal Gold Price Performance

RGLD stock traded down $0.85 during mid-day trading on Wednesday, reaching $189.74. 250,151 shares of the company traded hands, compared to its average volume of 639,551. Royal Gold, Inc. has a 52-week low of $130.67 and a 52-week high of $196.00. The company has a market capitalization of $12.49 billion, a P/E ratio of 27.82, a P/E/G ratio of 1.54 and a beta of 0.43. The company has a fifty day moving average price of $169.08 and a 200-day moving average price of $170.81.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.11. The business had revenue of $209.64 million for the quarter, compared to the consensus estimate of $186.63 million. Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.The company's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. As a group, analysts forecast that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, October 3rd. Royal Gold's payout ratio is currently 26.39%.

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.