NewEdge Advisors LLC Cuts Holdings in Royal Gold, Inc. $RGLD

Key Points

• NewEdge Advisors cut its Royal Gold holdings by 63.3% in the second quarter, selling 14,916 shares and retaining 8,656 shares valued at approximately $1.73 million. Institutional investors collectively own 83.65% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings, four Holds and one Sell. Royal Gold has a “Moderate Buy” consensus rating and an average price target of $289.64.
• Royal Gold reported quarterly revenue of $468.98 million, up 114.9% year over year, and EPS of $2.56, slightly exceeding estimates. The company also declared a quarterly dividend of $0.475 per share, equivalent to a 0.8% annual yield.

NewEdge Advisors LLC decreased its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 63.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,656 shares of the basic materials company's stock after selling 14,916 shares during the period. NewEdge Advisors LLC's holdings in Royal Gold were worth $1,728,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Allworth Financial LP boosted its holdings in shares of Royal Gold by 94.9% in the 2nd quarter. Allworth Financial LP now owns 10,449 shares of the basic materials company's stock valued at $2,086,000 after buying an additional 5,088 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Royal Gold by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 23,410 shares of the basic materials company's stock worth $4,673,000 after acquiring an additional 228 shares in the last quarter. Murphy Pohlad Asset Management LLC lifted its position in Royal Gold by 21.7% during the second quarter. Murphy Pohlad Asset Management LLC now owns 1,765 shares of the basic materials company's stock valued at $352,000 after acquiring an additional 315 shares during the last quarter. Nykredit A S acquired a new stake in Royal Gold in the second quarter valued at approximately $668,000. Finally, Groupe la Francaise boosted its stake in Royal Gold by 7.0% in the second quarter. Groupe la Francaise now owns 43,350 shares of the basic materials company's stock valued at $8,661,000 after acquiring an additional 2,850 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Insider Activity at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the business's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $262.80, for a total value of $131,400.00. Following the completion of the transaction, the senior vice president directly owned 8,082 shares of the company's stock, valued at approximately $2,123,949.60. The trade was a 5.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.35% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. TD lifted their price target on shares of Royal Gold from $289.00 to $315.00 and gave the stock a "buy" rating in a report on Friday. Jefferies Financial Group decreased their price objective on Royal Gold from $318.00 to $311.00 and set a "buy" rating for the company in a report on Monday, July 6th. Royal Bank Of Canada raised their price objective on Royal Gold from $305.00 to $325.00 and gave the stock an "outperform" rating in a research report on Wednesday. Zacks Research upgraded Royal Gold from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $310.00 target price on shares of Royal Gold in a research report on Tuesday, July 14th. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $289.64.

Royal Gold Stock Down 0.7%

Royal Gold stock opened at $249.65 on Friday. The business's 50-day simple moving average is $231.23 and its two-hundred day simple moving average is $233.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92. The company has a market cap of $21.15 billion, a PE ratio of 27.25, a PEG ratio of 1.89 and a beta of 0.50. Royal Gold, Inc. has a fifty-two week low of $168.88 and a fifty-two week high of $306.25.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.55 by $0.01. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The company had revenue of $468.98 million during the quarter, compared to analyst estimates of $458.85 million. During the same period last year, the firm posted $1.81 EPS. Royal Gold's revenue for the quarter was up 114.9% compared to the same quarter last year. Equities analysts anticipate that Royal Gold, Inc. will post 10.26 EPS for the current year.

Royal Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, October 2nd. Royal Gold's payout ratio is 20.74%.

Royal Gold Company Profile

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. Rather than operating mines directly, the company provides financing to mining companies in exchange for the right to purchase a portion of the metals produced from certain projects at predetermined prices, or to receive revenue-based payments tied to mineral production.

Royal Gold's portfolio is organized into two primary businesses: streams and royalties. Its streaming agreements generally provide rights to purchase gold, silver, copper or other metals from mining operations, while its royalty interests entitle the company to a percentage of revenue or production from a mine without bearing the operator's ongoing costs.

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