Amundi Lowers Holdings in Royal Gold, Inc. $RGLD

Key Points

• Amundi reduced its Royal Gold stake by 10.7% in the first quarter, selling 23,734 shares and retaining 197,559 shares valued at approximately $50.3 million. Institutional investors collectively own 83.65% of the company.
• Royal Gold recently paid a quarterly dividend of $0.475 per share, equivalent to an annualized dividend of $1.90 and a 1.0% yield. Its dividend payout ratio is 22.65%.
• Analysts maintain a generally positive outlook, with nine Buy ratings, three Holds and one Sell; the stock has a consensus “Moderate Buy” rating and a $280.27 price target.

Amundi cut its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 10.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 197,559 shares of the basic materials company's stock after selling 23,734 shares during the quarter. Amundi owned approximately 0.23% of Royal Gold worth $50,277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Parvin Asset Management LLC boosted its holdings in Royal Gold by 3.3% during the first quarter. Parvin Asset Management LLC now owns 10,855 shares of the basic materials company's stock worth $2,762,000 after buying an additional 343 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Royal Gold by 39.8% in the first quarter. EverSource Wealth Advisors LLC now owns 1,278 shares of the basic materials company's stock valued at $325,000 after buying an additional 364 shares in the last quarter. California State Teachers Retirement System increased its holdings in Royal Gold by 20.0% in the first quarter. California State Teachers Retirement System now owns 98,583 shares of the basic materials company's stock valued at $25,088,000 after buying an additional 16,418 shares in the last quarter. Maverick Capital Ltd. acquired a new position in shares of Royal Gold in the first quarter worth about $1,079,000. Finally, Quantinno Capital Management LP boosted its stake in shares of Royal Gold by 23.2% during the 1st quarter. Quantinno Capital Management LP now owns 45,254 shares of the basic materials company's stock worth $11,517,000 after acquiring an additional 8,509 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Royal Gold Stock Performance

NASDAQ:RGLD opened at $198.35 on Monday. The company has a market cap of $16.83 billion, a P/E ratio of 23.64, a P/E/G ratio of 1.45 and a beta of 0.44. Royal Gold, Inc. has a twelve month low of $150.99 and a twelve month high of $306.25. The company's 50-day moving average price is $205.31 and its 200-day moving average price is $241.23. The company has a current ratio of 3.52, a quick ratio of 3.26 and a debt-to-equity ratio of 0.08.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 2nd. Royal Gold's dividend payout ratio (DPR) is currently 22.65%.

Insiders Place Their Bets

In other Royal Gold news, SVP Randy Shefman sold 1,000 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $243.74, for a total value of $243,740.00. Following the completion of the sale, the senior vice president directly owned 9,082 shares in the company, valued at $2,213,646.68. This represents a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. UBS Group dropped their target price on Royal Gold from $325.00 to $280.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Zacks Research upgraded Royal Gold from a "strong sell" rating to a "hold" rating in a research report on Thursday, July 2nd. Jefferies Financial Group dropped their price target on shares of Royal Gold from $318.00 to $311.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Weiss Ratings lowered shares of Royal Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 11th. Finally, Scotiabank reiterated a "sector perform" rating and issued a $310.00 target price on shares of Royal Gold in a research report on Tuesday, July 14th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Royal Gold has a consensus rating of "Moderate Buy" and a consensus price target of $280.27.

Royal Gold Company Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company's portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.

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