Horizon Investments LLC Sells 6,467 Shares of Royal Gold, Inc. $RGLD

Key Points

• Horizon Investments LLC sharply reduced its stake in Royal Gold, selling 6,467 shares in the fourth quarter and cutting its holdings by 82.7% to 1,349 shares worth about $299,000.
• Several Royal Gold insiders also sold stock recently, including SVP Daniel Breeze and Director William M. Hayes; insiders sold 7,573 shares total over the last 90 days.
• Royal Gold shares were up 2.6% to $238.78, while analysts currently have a consensus rating of Moderate Buy with an average price target of $273.64.

Horizon Investments LLC cut its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 82.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,349 shares of the basic materials company's stock after selling 6,467 shares during the quarter. Horizon Investments LLC's holdings in Royal Gold were worth $299,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Greenleaf Trust raised its holdings in Royal Gold by 2.9% during the fourth quarter. Greenleaf Trust now owns 1,538 shares of the basic materials company's stock valued at $342,000 after acquiring an additional 43 shares during the period. WPG Advisers LLC raised its holdings in Royal Gold by 34.1% during the fourth quarter. WPG Advisers LLC now owns 181 shares of the basic materials company's stock valued at $40,000 after acquiring an additional 46 shares during the period. Parcion Private Wealth LLC raised its holdings in Royal Gold by 2.9% during the fourth quarter. Parcion Private Wealth LLC now owns 1,701 shares of the basic materials company's stock valued at $378,000 after acquiring an additional 48 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in Royal Gold by 33.9% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 221 shares of the basic materials company's stock valued at $44,000 after acquiring an additional 56 shares during the period. Finally, Compound Planning Inc. raised its holdings in Royal Gold by 4.4% during the third quarter. Compound Planning Inc. now owns 1,315 shares of the basic materials company's stock valued at $264,000 after acquiring an additional 56 shares during the period. 83.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Royal Gold

In other Royal Gold news, SVP Daniel Breeze sold 1,400 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $300.87, for a total transaction of $421,218.00. Following the completion of the transaction, the senior vice president owned 20,140 shares in the company, valued at $6,059,521.80. The trade was a 6.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William M. Hayes sold 4,173 shares of the business's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $277.07, for a total value of $1,156,213.11. Following the transaction, the director owned 6,129 shares of the company's stock, valued at $1,698,162.03. This trade represents a 40.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 7,573 shares of company stock worth $2,127,091 over the last 90 days. Company insiders own 0.35% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Canadian Imperial Bank of Commerce reissued a "neutral" rating and set a $330.00 price target on shares of Royal Gold in a report on Wednesday, February 4th. Zacks Research lowered Royal Gold from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 5th. UBS Group set a $325.00 price objective on Royal Gold and gave the company a "buy" rating in a research report on Wednesday, April 15th. Weiss Ratings restated a "buy (b)" rating on shares of Royal Gold in a research report on Tuesday, April 21st. Finally, Scotiabank lowered Royal Gold from a "sector outperform" rating to a "sector perform" rating and set a $335.00 price objective for the company. in a research report on Monday, January 26th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $273.64.

Royal Gold Trading Up 2.6%

RGLD stock opened at $238.78 on Friday. The company has a quick ratio of 2.91, a current ratio of 3.52 and a debt-to-equity ratio of 0.08. Royal Gold, Inc. has a twelve month low of $150.75 and a twelve month high of $306.25. The stock has a market capitalization of $20.26 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 1.88 and a beta of 0.43. The firm's fifty day simple moving average is $257.38 and its two-hundred day simple moving average is $238.48.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share for the quarter, missing analysts' consensus estimates of $2.68 by ($0.76). Royal Gold had a net margin of 48.59% and a return on equity of 12.63%. The firm had revenue of $310.83 million for the quarter, compared to the consensus estimate of $425.47 million. During the same quarter last year, the firm earned $1.63 EPS. The company's revenue was up 85.2% on a year-over-year basis. As a group, analysts anticipate that Royal Gold, Inc. will post 11.65 earnings per share for the current year.

Royal Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Thursday, April 2nd were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, April 2nd. Royal Gold's payout ratio is 22.65%.

Royal Gold Company Profile

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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