Royal Gold, Inc. $RGLD Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its stake in Royal Gold, Inc. by 12.3%, owning 259,900 shares after selling 36,500 shares in the first quarter.
• Royal Gold reported earnings per share of $1.81, exceeding analyst estimates, and a revenue of $209.64 million for the quarter, marking a 20.4% increase compared to the previous year.
• The company declared a quarterly dividend of $0.45, which will be paid on October 17th, representing an annualized dividend yield of 1.0%.

Gabelli Funds LLC decreased its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 12.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 259,900 shares of the basic materials company's stock after selling 36,500 shares during the period. Gabelli Funds LLC owned 0.39% of Royal Gold worth $42,496,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. First Trust Advisors LP grew its holdings in shares of Royal Gold by 18.8% during the 4th quarter. First Trust Advisors LP now owns 100,075 shares of the basic materials company's stock worth $13,195,000 after purchasing an additional 15,803 shares during the period. MGO One Seven LLC acquired a new position in Royal Gold during the fourth quarter valued at approximately $223,000. Integrated Wealth Concepts LLC grew its stake in Royal Gold by 5.4% during the fourth quarter. Integrated Wealth Concepts LLC now owns 6,505 shares of the basic materials company's stock worth $858,000 after buying an additional 333 shares during the period. Voya Investment Management LLC grew its stake in Royal Gold by 21.6% during the fourth quarter. Voya Investment Management LLC now owns 42,666 shares of the basic materials company's stock worth $5,626,000 after buying an additional 7,575 shares during the period. Finally, Two Sigma Securities LLC increased its position in shares of Royal Gold by 209.2% in the fourth quarter. Two Sigma Securities LLC now owns 2,971 shares of the basic materials company's stock worth $392,000 after acquiring an additional 5,691 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Royal Gold Price Performance

RGLD traded down $0.94 during trading hours on Thursday, reaching $176.03. 475,371 shares of the stock traded hands, compared to its average volume of 830,348. Royal Gold, Inc. has a fifty-two week low of $130.67 and a fifty-two week high of $191.78. The company has a market cap of $11.59 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 1.29 and a beta of 0.40. The firm's fifty day simple moving average is $166.78 and its two-hundred day simple moving average is $167.37.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.11. The company had revenue of $209.64 million during 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 firm's revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 EPS. On average, research analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Dividend Announcement

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

Analysts Set New Price Targets

RGLD has been the topic of several recent research reports. CIBC lifted their target price on shares of Royal Gold from $202.00 to $215.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. TD Securities reiterated a "buy" rating and issued a $237.00 price target (up from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Canaccord Genuity Group boosted their price objective on Royal Gold from $202.00 to $203.00 in a research note on Wednesday, June 11th. Wall Street Zen downgraded Royal Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Zacks Research lowered Royal Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $198.63.

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.