Federated Hermes Inc. Decreases Stake in Royal Gold, Inc. (NASDAQ:RGLD)

Key Points

• Federated Hermes Inc. reduced its stake in Royal Gold, Inc. by 27.6% during the first quarter, now holding 6,519 shares valued at approximately $1.07 million.
• Royal Gold reported a 20.4% increase in revenue compared to the same quarter last year, with earnings per share of $1.81, exceeding analysts' expectations of $1.70.
• The company also announced a quarterly dividend of $0.45 per share, reflecting a 1.1% yield, and has a dividend payout ratio of 29.80%.

Federated Hermes Inc. trimmed its position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 27.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,519 shares of the basic materials company's stock after selling 2,490 shares during the period. Federated Hermes Inc.'s holdings in Royal Gold were worth $1,066,000 at the end of the most recent reporting period.

A number of 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 valued at $32,000. Larson Financial Group LLC boosted 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 worth $72,000 after acquiring an additional 191 shares in the last quarter. HM Payson & Co. increased its holdings in shares of Royal Gold by 4,545.5% in the 1st quarter. HM Payson & Co. now owns 511 shares of the basic materials company's stock valued at $84,000 after acquiring an additional 500 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Royal Gold by 29.5% in the 1st quarter. Farther Finance Advisors LLC now owns 812 shares of the basic materials company's stock valued at $133,000 after acquiring an additional 185 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Royal Gold by 50.7% during the 1st quarter. Fifth Third Bancorp now owns 871 shares of the basic materials company's stock worth $142,000 after acquiring an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Royal Gold Stock Performance

Royal Gold stock opened at $161.33 on Thursday. The company has a market cap of $10.62 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 1.14 and a beta of 0.40. Royal Gold, Inc. has a one year low of $127.31 and a one year high of $191.78. The business has a fifty day moving average of $169.20 and a two-hundred day moving average of $163.93.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.11. The business had revenue of $209.64 million during the quarter, compared to the consensus estimate of $186.63 million. Royal Gold had a net margin of 52.15% and a return on equity of 12.48%. The business's revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 EPS. Sell-side analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, July 3rd. Royal Gold's dividend payout ratio (DPR) is 29.80%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. BMO Capital Markets set a $197.00 price target on shares of Royal Gold and gave the stock a "market perform" rating in a research note on Thursday, May 22nd. Wall Street Zen downgraded Royal Gold from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Canaccord Genuity Group upped their target price on Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. CIBC raised their price target on Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Scotiabank upgraded shares of Royal Gold from a "sector perform" rating to a "sector outperform" rating and upped their price target for the company from $166.00 to $189.00 in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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.

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