Hsbc Holdings PLC Increases Position in Royal Gold, Inc. $RGLD

Key Points

• HSBC Holdings PLC increased its stake in Royal Gold by 124.3% in the first quarter, ending with 21,418 shares valued at about $5.4 million.
• Royal Gold continues to attract institutional interest, with 83.65% of its stock held by hedge funds and other institutional investors, while insider ownership remains low at 0.35%.
• The company paid a quarterly dividend of $0.475 per share and currently offers an annualized yield of about 1.0%; analysts still view the stock as a Moderate Buy with a consensus price target of $280.27.

Hsbc Holdings PLC grew its position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 124.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,418 shares of the basic materials company's stock after purchasing an additional 11,870 shares during the period. Hsbc Holdings PLC's holdings in Royal Gold were worth $5,417,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elyxium Wealth LLC bought a new stake in Royal Gold in the fourth quarter worth $27,000. Gen Wealth Partners Inc bought 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 in the fourth quarter worth about $30,000. V Square Quantitative Management LLC purchased a new position in shares of Royal Gold in the fourth quarter worth about $30,000. Finally, Bank & Trust Co lifted its stake in shares of Royal Gold by 600.0% in the 4th quarter. Bank & Trust Co now owns 140 shares of the basic materials company's stock valued at $31,000 after acquiring an additional 120 shares during the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total transaction of $107,925.00. Following the transaction, the senior vice president directly owned 8,582 shares of the company's stock, valued at approximately $1,852,424.70. The trade was a 5.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by company insiders.

Royal Gold Price Performance

Shares of RGLD stock opened at $199.64 on Friday. The firm has a market cap of $16.94 billion, a P/E ratio of 23.79, a P/E/G ratio of 1.38 and a beta of 0.44. Royal Gold, Inc. has a fifty-two week low of $150.75 and a fifty-two week high of $306.25. The business's 50 day moving average price is $208.19 and its 200-day moving average price is $243.05. 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 declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were issued a $0.475 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $1.90 annualized dividend and a yield of 1.0%. Royal Gold's payout ratio is 22.65%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RGLD. Jefferies Financial Group lowered their price objective on Royal Gold from $318.00 to $311.00 and set a "buy" rating for the company in a research report on Monday, July 6th. National Bank Financial decreased their target price on shares of Royal Gold from $350.00 to $340.00 and set an "outperform" rating on the stock in a research note on Friday, April 17th. Weiss Ratings downgraded shares of Royal Gold from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, June 11th. Zacks Research raised shares of Royal Gold from a "strong sell" rating to a "hold" rating in a research report on Thursday, July 2nd. Finally, Royal Bank Of Canada cut their price target on shares of Royal Gold from $310.00 to $305.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $280.27.

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.

Want to see what other hedge funds are holding RGLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.