Kestra Private Wealth Services LLC Acquires New Position in Royal Gold, Inc. $RGLD

Key Points

• Kestra Private Wealth Services acquired a new Royal Gold position in the third quarter, buying 3,854 shares valued at about $910,000. Institutional investors and hedge funds own 83.65% of the stock.
• Royal Gold reported quarterly EPS of $2.80, beating the $2.77 consensus, while revenue of $464.77 million topped estimates and rose 84.4% year over year.
• Analysts give the stock a consensus “Moderate Buy” rating, with an average price target of $309.67.

Kestra Private Wealth Services LLC acquired a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,854 shares of the basic materials company's stock, valued at approximately $910,000.

Other large investors have also modified their holdings of the company. Bank of Nova Scotia raised its stake in shares of Royal Gold by 2.9% in the 1st quarter. Bank of Nova Scotia now owns 1,526 shares of the basic materials company's stock valued at $388,000 after buying an additional 43 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Royal Gold by 0.4% in the third quarter. State of Alaska Department of Revenue now owns 10,734 shares of the basic materials company's stock valued at $2,532,000 after acquiring an additional 44 shares during the period. Hilltop Holdings Inc. raised its position in Royal Gold by 0.6% in the first quarter. Hilltop Holdings Inc. now owns 7,432 shares of the basic materials company's stock worth $1,891,000 after purchasing an additional 46 shares in the last quarter. Compound Planning Inc. lifted its stake in Royal Gold by 3.3% during the first quarter. Compound Planning Inc. now owns 1,493 shares of the basic materials company's stock worth $380,000 after purchasing an additional 47 shares during the period. Finally, Assetmark Inc. lifted its stake in Royal Gold by 25.6% during the first quarter. Assetmark Inc. now owns 245 shares of the basic materials company's stock worth $62,000 after purchasing an additional 50 shares during the period. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Royal Gold Trading Up 1.7%

Shares of NASDAQ RGLD traded up $4.53 during midday trading on Friday, hitting $265.81. The stock had a trading volume of 1,029,057 shares, compared to its average volume of 592,052. The company's 50-day simple moving average is $244.37 and its 200 day simple moving average is $241.16. The firm has a market cap of $22.52 billion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 1.71 and a beta of 0.46. Royal Gold, Inc. has a fifty-two week low of $170.89 and a fifty-two week high of $306.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.03. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The firm had revenue of $464.77 million for the quarter, compared to analysts' expectations of $459.84 million. During the same period last year, the firm earned $2.06 earnings per share. The business's revenue for the quarter was up 84.4% on a year-over-year basis. Research analysts anticipate that Royal Gold, Inc. will post 10.65 EPS for the current year.

Royal Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were paid a $0.4750 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $1.90 annualized dividend and a yield of 0.7%. Royal Gold's dividend payout ratio is presently 19.15%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RGLD. UBS Group upped their price objective on Royal Gold from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Friday, August 7th. TD cut their target price on Royal Gold from $315.00 to $311.00 and set a "buy" rating for the company in a research report on Tuesday, October 20th. Raymond James Financial set a $337.00 price target on Royal Gold in a research note on Friday. Canadian Imperial Bank of Commerce set a $305.00 price target on Royal Gold in a research report on Friday, October 16th. Finally, Royal Bank Of Canada increased their price objective on Royal Gold from $305.00 to $325.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 16th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $309.67.

More Royal Gold News

Here are the key news stories impacting Royal Gold this week:

• Positive Sentiment: Royal Gold reported third-quarter EPS of $2.80, above the $2.77 consensus, and revenue of $464.77 million, topping expectations and rising 84.4% year over year. Royal Gold Q3 earnings results
• Positive Sentiment: The company announced record cash flow and full repayment of its debt, strengthening its balance sheet and financial flexibility. Royal Gold reports record cash flow and repays debt
• Neutral Sentiment: Royal Gold outlined a roughly $43 million buyback of a Kinross Great Bear royalty interest, increasing its net smelter return royalty to 1.5%; it said its $1.4 billion revolving credit facility remains available. Royal Gold outlines Great Bear royalty transaction
• Negative Sentiment: Bank of America Securities maintained its sell rating, signaling continued analyst skepticism despite the strong quarter. Bank of America Securities keeps sell rating

Insiders Place Their Bets

In related news, SVP Randy Shefman sold 500 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $262.80, for a total value of $131,400.00. Following the sale, the senior vice president directly owned 8,082 shares in the company, valued at $2,123,949.60. This trade represents a 5.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.35% of the company's stock.

About Royal Gold

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. The company provides financing to mining companies in exchange for the right to purchase a portion of the gold, silver, copper, or other metals produced from their mines, typically at predetermined prices. It also holds royalty interests that entitle it to a percentage of revenue or production from mining operations without directly operating the mines.

Royal Gold's business is focused on acquiring and managing a diversified portfolio of streaming and royalty interests.

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