AlphaQuest LLC Trims Stake in Royal Gold, Inc. $RGLD

Key Points

• AlphaQuest LLC significantly reduced its stake in Royal Gold, Inc. by 64.6%, owning 1,525 shares worth approximately $249,000 after selling 2,784 shares in Q1.
• The company's quarterly earnings exceeded expectations, reporting $1.81 EPS and revenue of $209.64 million, marking a 20.4% increase compared to the previous year.
• Royal Gold announced a quarterly dividend of $0.45 per share, with an ex-dividend date of October 3rd, reflecting a dividend yield of 1.0%.

AlphaQuest LLC reduced its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 64.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,525 shares of the basic materials company's stock after selling 2,784 shares during the period. AlphaQuest LLC's holdings in Royal Gold were worth $249,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Kestra Advisory Services LLC increased its holdings in shares of Royal Gold by 4.9% in the 1st quarter. Kestra Advisory Services LLC now owns 17,402 shares of the basic materials company's stock valued at $2,845,000 after acquiring an additional 805 shares during the period. Sprott Inc. grew its stake in shares of Royal Gold by 10.2% during the first quarter. Sprott Inc. now owns 65,833 shares of the basic materials company's stock worth $10,764,000 after acquiring an additional 6,120 shares during the last quarter. Kaufman Rossin Wealth LLC purchased a new stake in shares of Royal Gold during the first quarter worth about $278,000. Tiemann Investment Advisors LLC boosted its position in Royal Gold by 5.0% in the first quarter. Tiemann Investment Advisors LLC now owns 2,175 shares of the basic materials company's stock valued at $356,000 after buying an additional 103 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Royal Gold by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 405,224 shares of the basic materials company's stock valued at $66,259,000 after buying an additional 15,167 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Royal Gold Price Performance

RGLD stock opened at $179.58 on Friday. The firm has a market capitalization of $11.82 billion, a P/E ratio of 26.33, a P/E/G ratio of 1.29 and a beta of 0.40. The business's 50-day moving average is $166.78 and its two-hundred day moving average is $167.61. Royal Gold, Inc. has a 1 year low of $130.67 and a 1 year high of $191.78.

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

Royal Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, October 3rd. Royal Gold's dividend payout ratio (DPR) is 26.39%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RGLD shares. Zacks Research lowered Royal Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. BMO Capital Markets set a $197.00 target price on Royal Gold and gave the stock a "market perform" rating in a research note on Thursday, May 22nd. CIBC increased their price objective on Royal Gold from $202.00 to $215.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. TD Securities reissued a "buy" rating and issued a $237.00 price objective (up from $229.00) on shares of Royal Gold in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded Royal Gold from a "hold" rating to a "buy" rating in a report on Saturday. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Royal Gold currently has a consensus rating of "Moderate Buy" and a consensus target price of $198.63.

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.

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