Edgestream Partners L.P. Sells 6,470 Shares of Royal Gold, Inc. $RGLD

Key Points

• Edgestream Partners cut its Royal Gold stake by 47.9% in the first quarter, selling 6,470 shares and retaining 7,045 shares valued at approximately $1.79 million. Institutional investors collectively own 83.65% of the company.
• Royal Gold shares opened at $202.04, below their 50-day and 200-day moving averages, with a 52-week range of $154.32 to $306.25. The stock has a market capitalization of $17.15 billion.
• The company paid a quarterly dividend of $0.475 per share, equivalent to an annualized $1.90 dividend and a 0.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $280.27.

Edgestream Partners L.P. reduced its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 47.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,045 shares of the basic materials company's stock after selling 6,470 shares during the quarter. Edgestream Partners L.P.'s holdings in Royal Gold were worth $1,793,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Elyxium Wealth LLC bought a new stake in shares of Royal Gold during the 4th quarter valued at about $27,000. Gen Wealth Partners Inc purchased a new position in shares of Royal Gold during the fourth quarter valued at about $27,000. Trust Co. of Toledo NA OH purchased a new position in shares of Royal Gold during the fourth quarter valued at about $30,000. V Square Quantitative Management LLC bought a new position in Royal Gold in the fourth quarter worth about $30,000. Finally, Scarborough Advisors LLC bought a new position in Royal Gold in the first quarter worth about $32,000. 83.65% of the stock is currently owned by institutional investors.

Royal Gold Price Performance

RGLD stock opened at $202.04 on Tuesday. The firm has a 50 day moving average price of $204.95 and a 200-day moving average price of $240.87. Royal Gold, Inc. has a 52-week low of $154.32 and a 52-week high of $306.25. The firm has a market capitalization of $17.15 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 1.45 and a beta of 0.44. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.26 and a current ratio of 3.52.

Royal Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd were paid a dividend of $0.475 per share. The ex-dividend date was Thursday, July 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.9%. Royal Gold's payout ratio is presently 22.65%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RGLD. UBS Group cut their price objective on Royal Gold from $325.00 to $280.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Weiss Ratings lowered Royal Gold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, June 11th. Scotiabank restated a "sector perform" rating and issued a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. National Bank Financial dropped their price target on Royal Gold from $350.00 to $340.00 and set an "outperform" rating on the stock in a research report on Friday, April 17th. Finally, Jefferies Financial Group reduced their price target on Royal Gold from $318.00 to $311.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $280.27.

Insider Buying and Selling

In other news, SVP Randy Shefman sold 500 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $215.85, for a total value of $107,925.00. Following the sale, the senior vice president directly owned 8,582 shares of the company's stock, valued at approximately $1,852,424.70. This represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.

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