Bank of America Corp DE Sells 155,091 Shares of Royal Gold, Inc. $RGLD

Key Points

• Bank of America reduced its Royal Gold stake by 27.8%, selling 155,091 shares and retaining 402,047 shares valued at approximately $102.3 million. Institutional investors collectively own 83.65% of the company.
• Royal Gold reported quarterly EPS of $2.56, narrowly exceeding estimates, while revenue reached $468.98 million—up 114.9% year over year. The company also maintains a quarterly dividend of $0.475, or $1.90 annualized.
• Analyst sentiment is mixed, with an average rating of “Hold” and an average price target of $285.10 versus the stock’s reported price of $229.92; price targets range from $285 to $310.

Bank of America Corp DE decreased its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 27.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 402,047 shares of the basic materials company's stock after selling 155,091 shares during the period. Bank of America Corp DE owned 0.47% of Royal Gold worth $102,317,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Greenleaf Trust raised its position in shares of Royal Gold by 2.9% during the fourth quarter. Greenleaf Trust now owns 1,538 shares of the basic materials company's stock worth $342,000 after acquiring an additional 43 shares during the last quarter. Bank of Nova Scotia boosted its holdings in Royal Gold by 2.9% in the first quarter. Bank of Nova Scotia now owns 1,526 shares of the basic materials company's stock valued at $388,000 after acquiring an additional 43 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in Royal Gold by 1.5% in the first quarter. Apollon Wealth Management LLC now owns 2,905 shares of the basic materials company's stock valued at $739,000 after acquiring an additional 44 shares during the last quarter. WPG Advisers LLC increased its position in Royal Gold by 34.1% during the 4th quarter. WPG Advisers LLC now owns 181 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 46 shares during the period. Finally, Hilltop Holdings Inc. raised its holdings in Royal Gold by 0.6% during the 1st quarter. Hilltop Holdings Inc. now owns 7,432 shares of the basic materials company's stock worth $1,891,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 83.65% of the company's stock.

Royal Gold Stock Performance

Shares of Royal Gold stock opened at $229.92 on Friday. Royal Gold, Inc. has a one year low of $164.13 and a one year high of $306.25. The firm has a market capitalization of $19.51 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 1.59 and a beta of 0.44. The business has a 50-day simple moving average of $204.50 and a 200 day simple moving average of $239.82. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 3.26.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.01. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.The business had revenue of $468.98 million for the quarter, compared to analyst estimates of $458.85 million. During the same quarter in the prior year, the company earned $1.81 earnings per share. The company's quarterly revenue was up 114.9% on a year-over-year basis. On average, research analysts anticipate that Royal Gold, Inc. will post 10.38 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, July 2nd. Royal Gold's dividend payout ratio (DPR) is currently 22.65%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Weiss Ratings cut shares of Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday. UBS Group lifted their price objective on Royal Gold from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday. Zacks Research lowered Royal Gold from a "hold" rating to a "strong sell" rating in a research report on Friday, July 31st. Royal Bank Of Canada lowered their target price on Royal Gold from $310.00 to $305.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. Finally, Scotiabank restated a "sector perform" rating and set a $310.00 price target on shares of Royal Gold in a report on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $285.10.

Insider Transactions at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total value of $107,925.00. Following the completion of the sale, the senior vice president owned 8,582 shares of the company's stock, valued at approximately $1,852,424.70. This trade represents a 5.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.35% of the company's stock.

About Royal Gold

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source