Corebridge Financial Inc. Sells 1,772 Shares of Royal Gold, Inc. $RGLD

Key Points

• Corebridge Financial Inc. reduced its holdings in Royal Gold, Inc. by 2.4% in the first quarter, selling 1,772 shares and maintaining 72,633 shares valued at approximately $11.88 million.
• Royal Gold recently reported earnings per share of $1.81 for the last quarter, surpassing analysts' expectations of $1.70, accompanied by a revenue of $209.64 million.
• The company declared a quarterly dividend of $0.45 per share, with a record date of October 3rd and a payout date on October 17th, representing an annualized yield of 1.0%.

Corebridge Financial Inc. trimmed its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,633 shares of the basic materials company's stock after selling 1,772 shares during the period. Corebridge Financial Inc. owned 0.11% of Royal Gold worth $11,876,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in Royal Gold during the 1st quarter worth $32,000. Banque Cantonale Vaudoise acquired a new stake in shares of Royal Gold during the 1st quarter worth $34,000. Bayforest Capital Ltd increased its position in shares of Royal Gold by 256.5% in the first quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company's stock worth $40,000 after purchasing an additional 177 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Royal Gold in the first quarter worth $40,000. Finally, Brooklyn Investment Group raised its stake in Royal Gold by 961.5% in the first quarter. Brooklyn Investment Group now owns 276 shares of the basic materials company's stock valued at $45,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RGLD shares. CIBC increased their price objective on shares of Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. TD Securities reiterated a "buy" rating and set a $237.00 price target (up previously from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Zacks Research cut shares of Royal Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. BMO Capital Markets set a $197.00 target price on Royal Gold and gave the stock a "market perform" rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen downgraded Royal Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Royal Gold presently has a consensus rating of "Moderate Buy" and a consensus price target of $198.63.

Royal Gold Trading Up 1.9%

Shares of Royal Gold stock opened at $177.89 on Wednesday. The firm's 50 day moving average is $166.89 and its 200 day moving average is $167.10. The firm has a market capitalization of $11.71 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 1.28 and a beta of 0.40. Royal Gold, Inc. has a 1 year low of $130.67 and a 1 year high of $191.78.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.11. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The business had revenue of $209.64 million during the quarter, compared to analysts' expectations of $186.63 million. During the same period in the prior year, the company earned $1.25 EPS. The firm's quarterly revenue was up 20.4% compared to the same quarter last year. As a group, research analysts anticipate that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, October 3rd. Royal Gold's dividend payout ratio is presently 26.39%.

About Royal Gold

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.

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