Azzad Asset Management Inc. ADV Sells 6,325 Shares of Royal Gold, Inc. $RGLD

Key Points

• Azzad Asset Management cut its Royal Gold stake by 68.6% in the first quarter, selling 6,325 shares and leaving it with 2,890 shares valued at about $735,000.
• Royal Gold recently declared a quarterly dividend of $0.475 per share, or $1.90 annualized, which implies a 1.0% yield.
• Wall Street sentiment remains cautiously positive: analysts currently rate the stock a Moderate Buy with an average target price of $282.55, though several firms have trimmed their price targets.

Azzad Asset Management Inc. ADV lowered its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 68.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,890 shares of the basic materials company's stock after selling 6,325 shares during the quarter. Azzad Asset Management Inc. ADV's holdings in Royal Gold were worth $735,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Elyxium Wealth LLC acquired a new stake in Royal Gold during the 4th quarter worth approximately $27,000. Gen Wealth Partners Inc bought a new position in Royal Gold in the fourth quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC bought a new position in Royal Gold in the third quarter valued at approximately $29,000. Trust Co. of Toledo NA OH acquired a new position in shares of Royal Gold in the fourth quarter valued at approximately $30,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Royal Gold in the fourth quarter valued at approximately $30,000. Institutional investors own 83.65% of the company's stock.

Royal Gold Stock Performance

Shares of RGLD stock opened at $196.83 on Friday. The company's fifty day simple moving average is $216.21 and its 200-day simple moving average is $245.10. The company has a quick ratio of 3.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.08. The firm has a market cap of $16.70 billion, a PE ratio of 23.46, a P/E/G ratio of 1.34 and a beta of 0.44. Royal Gold, Inc. has a 12 month low of $150.75 and a 12 month high of $306.25.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, July 2nd. Royal Gold's payout ratio is presently 22.65%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RGLD. National Bank Financial lowered their price objective on shares of Royal Gold from $350.00 to $340.00 and set an "outperform" rating for the company in a research report on Friday, April 17th. UBS Group cut their price objective on shares of Royal Gold from $325.00 to $280.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Jefferies Financial Group reduced their target price on shares of Royal Gold from $318.00 to $311.00 and set a "buy" rating for the company in a research note on Monday. Weiss Ratings cut Royal Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 11th. Finally, Zacks Research raised Royal Gold from a "strong sell" rating to a "hold" rating in a research note on Thursday, July 2nd. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $282.55.

Insider Buying and Selling

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total transaction of $107,925.00. Following the sale, the senior vice president directly owned 8,582 shares of the company's stock, valued at $1,852,424.70. The trade was a 5.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.35% of the stock is owned by company insiders.

Royal Gold 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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