Royal Gold, Inc. $RGLD Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada has reduced its holdings in Royal Gold, Inc. by 4.8%, selling 14,432 shares and owning 0.43% of the company worth approximately $46.63 million.
• Royal Gold's recent quarterly earnings beat analysts' expectations, reporting $1.81 earnings per share with revenues of $209.64 million, a 20.4% increase year-over-year.
• The company declared a quarterly dividend of $0.45 per share set to be paid on October 17th, representing an annualized yield of 1.0%.

Royal Bank of Canada reduced its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 4.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 285,189 shares of the basic materials company's stock after selling 14,432 shares during the period. Royal Bank of Canada owned approximately 0.43% of Royal Gold worth $46,631,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WPG Advisers LLC purchased a new position in Royal Gold during the 1st quarter worth $27,000. Alpine Bank Wealth Management purchased a new position in Royal Gold in the 1st quarter valued at $32,000. Banque Cantonale Vaudoise purchased a new position in Royal Gold in the 1st quarter valued at $34,000. Bayforest Capital Ltd grew its position in 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 during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Royal Gold in the 1st quarter valued at $40,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RGLD shares. TD Securities reiterated a "buy" rating and issued a $237.00 price objective (up from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Canaccord Genuity Group lifted their price target on Royal Gold from $202.00 to $203.00 in a research note on Wednesday, June 11th. BMO Capital Markets set a $197.00 price target on Royal Gold and gave the company a "market perform" rating in a research note on Thursday, May 22nd. Zacks Research downgraded Royal Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Wall Street Zen upgraded shares of Royal Gold from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $198.63.

Royal Gold Price Performance

NASDAQ:RGLD traded up $1.65 on Wednesday, reaching $186.66. The stock had a trading volume of 338,028 shares, compared to its average volume of 635,870. The company has a market cap of $12.29 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 1.36 and a beta of 0.43. The firm's fifty day moving average is $167.41 and its two-hundred day moving average is $169.38. Royal Gold, Inc. has a 12-month low of $130.67 and a 12-month high of $191.78.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.11. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The company had revenue of $209.64 million for the quarter, compared to analyst estimates of $186.63 million. During the same period in the prior year, the firm earned $1.25 EPS. The firm's quarterly revenue was up 20.4% on a year-over-year basis. As a group, research analysts forecast 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 Friday, October 17th. Shareholders of record on Friday, October 3rd will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, October 3rd. Royal Gold's dividend payout ratio is currently 26.39%.

Royal Gold Company 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.