Inceptionr LLC Cuts Stock Holdings in Royal Gold, Inc. $RGLD

Key Points

• Inceptionr LLC cut its stake in Royal Gold by 64.9% in Q3, selling 5,160 shares and leaving it with 2,786 shares valued at about $559,000.
• Royal Gold missed quarterly estimates (EPS $1.92 vs. $2.68 expected; revenue $360.85M vs. $425.47M expected) even as revenue rose 85.2% year-over-year, and the company declared a quarterly dividend of $0.475 (annualized $1.90, yield 0.7%).
• Analysts show mixed views but a MarketBeat consensus of "Moderate Buy" with an average price target of $251.50 (seven Buys, three Holds, one Sell).

Inceptionr LLC lowered its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 64.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,786 shares of the basic materials company's stock after selling 5,160 shares during the quarter. Inceptionr LLC's holdings in Royal Gold were worth $559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. AQR Capital Management LLC increased its position in Royal Gold by 8.2% in the second quarter. AQR Capital Management LLC now owns 1,820,435 shares of the basic materials company's stock worth $319,140,000 after purchasing an additional 137,524 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Royal Gold by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,751,136 shares of the basic materials company's stock worth $311,457,000 after purchasing an additional 61,352 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Royal Gold by 9.4% during the third quarter. Dimensional Fund Advisors LP now owns 993,265 shares of the basic materials company's stock valued at $199,218,000 after buying an additional 85,722 shares during the last quarter. Invesco Ltd. boosted its holdings in Royal Gold by 19.5% during the 2nd quarter. Invesco Ltd. now owns 928,332 shares of the basic materials company's stock valued at $165,095,000 after acquiring an additional 151,492 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Royal Gold by 52.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 833,181 shares of the basic materials company's stock valued at $148,173,000 after acquiring an additional 286,268 shares during the last quarter. Institutional investors own 83.65% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on RGLD shares. Scotiabank lowered Royal Gold from a "sector outperform" rating to a "sector perform" rating and set a $335.00 target price on the stock. in a research note on Monday, January 26th. Weiss Ratings reissued a "buy (b)" rating on shares of Royal Gold in a research note on Thursday, January 22nd. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating and issued a $330.00 price target on shares of Royal Gold in a research note on Wednesday, February 4th. TD Cowen lifted their price objective on shares of Royal Gold from $261.00 to $263.00 and gave the company a "buy" rating in a report on Tuesday, November 18th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $270.00 price objective on shares of Royal Gold in a research report on Sunday, December 7th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Royal Gold currently has a consensus rating of "Moderate Buy" and an average target price of $251.50.

Insider Transactions at Royal Gold

In other news, Director William M. Hayes sold 4,173 shares of the company's stock in a transaction 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 sale, the director directly owned 6,129 shares of the company's stock, valued at $1,698,162.03. This represents a 40.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Daniel Breeze sold 1,400 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $300.87, for a total value of $421,218.00. Following the sale, the senior vice president directly owned 20,140 shares in the company, valued at $6,059,521.80. This represents a 6.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.49% of the company's stock.

Royal Gold Stock Performance

Shares of NASDAQ:RGLD opened at $281.69 on Wednesday. Royal Gold, Inc. has a 52 week low of $150.75 and a 52 week high of $306.25. The firm has a 50 day moving average of $271.05 and a 200 day moving average of $221.86. The company has a market capitalization of $23.89 billion, a price-to-earnings ratio of 41.36, a price-to-earnings-growth ratio of 1.70 and a beta of 0.48. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.12.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.92 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.76). Royal Gold had a net margin of 45.26% and a return on equity of 11.89%. The firm had revenue of $360.85 million for the quarter, compared to analysts' expectations of $425.47 million. During the same period in the previous year, the company posted $1.63 earnings per share. The business's quarterly revenue was up 85.2% compared to the same quarter last year. On average, sell-side analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Thursday, April 2nd will be issued a $0.475 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.7%. Royal Gold's dividend payout ratio (DPR) is currently 27.90%.

Royal Gold 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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