Convergence Investment Partners LLC Sells 2,826 Shares of Royal Gold, Inc. (NASDAQ:RGLD)

Convergence Investment Partners LLC reduced its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 32.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,868 shares of the basic materials company's stock after selling 2,826 shares during the quarter. Convergence Investment Partners LLC's holdings in Royal Gold were worth $959,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in shares of Royal Gold during the 1st quarter valued at $32,000. Larson Financial Group LLC increased its position in shares of Royal Gold by 77.0% during the 1st quarter. Larson Financial Group LLC now owns 439 shares of the basic materials company's stock valued at $72,000 after purchasing an additional 191 shares during the period. HM Payson & Co. increased its position in shares of Royal Gold by 4,545.5% during the 1st quarter. HM Payson & Co. now owns 511 shares of the basic materials company's stock valued at $84,000 after purchasing an additional 500 shares during the period. Physician Wealth Advisors Inc. acquired a new position in shares of Royal Gold during the 4th quarter valued at $95,000. Finally, Nemes Rush Group LLC acquired a new position in shares of Royal Gold during the 4th quarter valued at $129,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Royal Gold Stock Down 0.4%

Shares of Royal Gold stock traded down $0.58 during midday trading on Friday, hitting $154.99. The company's stock had a trading volume of 651,399 shares, compared to its average volume of 923,975. The firm has a market capitalization of $10.20 billion, a P/E ratio of 25.66, a PEG ratio of 1.10 and a beta of 0.44. The stock has a 50-day simple moving average of $172.93 and a 200-day simple moving average of $163.09. Royal Gold, Inc. has a 1-year low of $125.68 and a 1-year high of $191.78.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its earnings results on Wednesday, May 7th. The basic materials company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.14. Royal Gold had a return on equity of 12.48% and a net margin of 52.15%. The firm had revenue of $193.44 million for the quarter, compared to the consensus estimate of $176.17 million. During the same quarter in the previous year, the company posted $0.91 earnings per share. The business's quarterly revenue was up 29.9% compared to the same quarter last year. As a group, sell-side analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd were paid a $0.45 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. Royal Gold's dividend payout ratio (DPR) is currently 29.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. BMO Capital Markets set a $197.00 price target on Royal Gold and gave the company a "market perform" rating in a research report on Thursday, May 22nd. CIBC lifted their price target on Royal Gold from $202.00 to $215.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Raymond James Financial lifted their price target on Royal Gold from $181.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Canaccord Genuity Group raised their price objective on Royal Gold from $202.00 to $203.00 in a research note on Wednesday, June 11th. Finally, Wall Street Zen raised Royal Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Royal Gold currently has an average rating of "Moderate Buy" and a consensus price target of $192.13.

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.