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

Key Points

• Hsbc Holdings PLC has reduced its stake in Royal Gold, Inc. by 30.4%, now holding 22,286 shares worth approximately $3.64 million.
• Royal Gold recently reported $1.81 earnings per share, surpassing the consensus estimate, and its revenue increased by 20.4% year-over-year to $209.64 million.
• The company announced a quarterly dividend of $0.45 per share, with an annualized yield of 1.0%, reflecting a payout ratio of 26.39%.

Hsbc Holdings PLC cut its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 30.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,286 shares of the basic materials company's stock after selling 9,718 shares during the quarter. Hsbc Holdings PLC's holdings in Royal Gold were worth $3,642,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RGLD. Alpine Bank Wealth Management purchased a new stake in Royal Gold in the first quarter worth about $32,000. Banque Cantonale Vaudoise purchased a new stake in shares of Royal Gold during the first quarter valued at about $34,000. Bayforest Capital Ltd boosted its holdings in shares of Royal Gold by 256.5% in the 1st quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company's stock valued at $40,000 after buying an additional 177 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Royal Gold in the 1st quarter worth approximately $40,000. Finally, Brooklyn Investment Group raised its stake in shares of Royal Gold by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 276 shares of the basic materials company's stock worth $45,000 after acquiring an additional 250 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. 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 note on Thursday, May 8th. Wall Street Zen lowered shares of Royal Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Zacks Research lowered shares of Royal Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. TD Securities reiterated a "buy" rating and set a $237.00 price objective (up previously from $229.00) on shares of Royal Gold in a research note on Friday, August 8th. Finally, Canaccord Genuity Group boosted their price objective on shares of Royal Gold from $202.00 to $203.00 in a research note on Wednesday, June 11th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Royal Gold presently has an average rating of "Moderate Buy" and an average price target of $198.63.

Royal Gold Trading Up 1.9%

NASDAQ:RGLD opened at $177.89 on Wednesday. The company has a market cap of $11.71 billion, a PE ratio of 26.08, a P/E/G ratio of 1.28 and a beta of 0.40. Royal Gold, Inc. has a twelve month low of $130.67 and a twelve month high of $191.78. The company's 50 day moving average is $166.89 and its two-hundred day moving average is $167.10.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.11. The company had revenue of $209.64 million for the quarter, compared to the consensus estimate of $186.63 million. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. Royal Gold's revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. As a group, analysts expect that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, October 3rd. Royal Gold's payout ratio is currently 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.

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