Erste Asset Management GmbH Decreases Stake in Royal Gold, Inc. $RGLD

Key Points

• Erste Asset Management GmbH significantly reduced its stake in Royal Gold, Inc. by 84.0%, now holding only 420 shares valued at approximately $69,000 after selling 2,200 shares in the first quarter.
• Multiple institutional investors made moves regarding Royal Gold; Brooklyn Investment Group increased its stake by 961.5%, now owning 276 shares, while others like Alpine Bank Wealth Management and Caitong International Asset Management also purchased new positions.
• Royal Gold announced a $0.45 quarterly dividend scheduled for payment on October 17, representing an annualized dividend of $1.80 and a yield of 1.0%.

Erste Asset Management GmbH lowered its position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 84.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 420 shares of the basic materials company's stock after selling 2,200 shares during the quarter. Erste Asset Management GmbH's holdings in Royal Gold were worth $69,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new position in Royal Gold in the first quarter worth approximately $32,000. Banque Cantonale Vaudoise purchased a new position in Royal Gold in the first quarter worth approximately $34,000. Bayforest Capital Ltd lifted its stake in 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 acquiring an additional 177 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Royal Gold in the first quarter worth approximately $40,000. Finally, Brooklyn Investment Group lifted 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 worth $45,000 after acquiring an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on RGLD. Wall Street Zen downgraded shares of Royal Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Canaccord Genuity Group boosted their price objective on shares of Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. CIBC boosted their price objective on shares of Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. TD Securities restated a "buy" rating and set a $237.00 price objective (up previously from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Finally, BMO Capital Markets set a $197.00 price objective on shares of Royal Gold and gave the stock a "market perform" rating in a research report on Thursday, May 22nd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $198.63.

Royal Gold Price Performance

Shares of Royal Gold stock opened at $177.44 on Friday. The firm's fifty day simple moving average is $167.03 and its 200-day simple moving average is $166.52. The stock has a market capitalization of $11.68 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 1.28 and a beta of 0.40. Royal Gold, Inc. has a 12 month low of $130.67 and a 12 month high of $191.78.

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

Royal Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be issued 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 of this dividend is Friday, October 3rd. Royal Gold's payout ratio is presently 26.39%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.