Bank of New York Mellon Corp Sells 26,278 Shares of Royal Gold, Inc. $RGLD

Key Points

• Bank of New York Mellon trimmed its Royal Gold stake by 3.1% in the first quarter, selling 26,278 shares and ending with 808,511 shares valued at about $205.8 million.
• Institutional ownership remains high, with 83.65% of Royal Gold shares held by institutions; several firms, including Goldman Sachs and Qube Research, increased their positions during recent quarters.
• Analysts remain cautiously positive on RGLD, with nine Buy ratings, three Hold ratings, and one Sell rating, alongside an average price target of $280.27. The stock recently traded at $189.17, below both its 50-day and 200-day moving averages.

Bank of New York Mellon Corp decreased its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 808,511 shares of the basic materials company's stock after selling 26,278 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.95% of Royal Gold worth $205,758,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its holdings in Royal Gold by 99.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company's stock valued at $27,608,000 after acquiring an additional 84,206 shares during the period. Focus Partners Wealth lifted its holdings in Royal Gold by 51.5% during the 1st quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company's stock worth $1,384,000 after purchasing an additional 2,876 shares during the last quarter. Brown Advisory Inc. boosted its stake in Royal Gold by 28.9% in the 2nd quarter. Brown Advisory Inc. now owns 3,551 shares of the basic materials company's stock valued at $631,000 after purchasing an additional 796 shares during the period. Qube Research & Technologies Ltd boosted its stake in Royal Gold by 43.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 188,247 shares of the basic materials company's stock valued at $33,478,000 after purchasing an additional 56,621 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in Royal Gold by 4.6% in the 2nd quarter. NewEdge Advisors LLC now owns 24,551 shares of the basic materials company's stock valued at $4,366,000 after buying an additional 1,072 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RGLD. Weiss Ratings downgraded Royal Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 11th. Zacks Research upgraded shares of Royal Gold from a "strong sell" rating to a "hold" rating in a research note on Thursday, July 2nd. UBS Group lowered their price target 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. Royal Bank Of Canada dropped their price objective on shares of Royal Gold from $310.00 to $305.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Finally, Scotiabank reissued a "sector perform" rating and issued a $310.00 price objective on shares of Royal Gold in a report on Tuesday. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $280.27.

Royal Gold Stock Performance

RGLD opened at $189.17 on Friday. The firm has a market cap of $16.05 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. Royal Gold, Inc. has a 52-week low of $150.75 and a 52-week high of $306.25. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.26 and a current ratio of 3.52. The business's fifty day moving average is $212.07 and its 200-day moving average is $243.68.

Royal Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, July 2nd. Royal Gold's payout ratio is currently 22.65%.

Insider Buying and Selling

In other news, SVP Randy Shefman sold 1,000 shares of Royal Gold 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 transaction, the senior vice president owned 9,082 shares in the company, valued at approximately $2,213,646.68. This trade represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

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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