Royal Gold, Inc. (NASDAQ:RGLD) Shares Sold by KBC Group NV

KBC Group NV reduced its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 91.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,959 shares of the basic materials company's stock after selling 30,915 shares during the period. KBC Group NV's holdings in Royal Gold were worth $484,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. PFG Investments LLC increased its holdings in Royal Gold by 0.9% in the 1st quarter. PFG Investments LLC now owns 5,938 shares of the basic materials company's stock valued at $971,000 after purchasing an additional 54 shares in the last quarter. BCS Wealth Management boosted its position in Royal Gold by 0.3% in the 1st quarter. BCS Wealth Management now owns 20,704 shares of the basic materials company's stock valued at $3,385,000 after buying an additional 63 shares during the last quarter. GoalVest Advisory LLC boosted its position in Royal Gold by 5.2% in the 1st quarter. GoalVest Advisory LLC now owns 1,505 shares of the basic materials company's stock valued at $246,000 after buying an additional 75 shares during the last quarter. Bessemer Group Inc. boosted its position in Royal Gold by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 21,772 shares of the basic materials company's stock valued at $2,871,000 after buying an additional 94 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in Royal Gold by 3.5% in the 4th quarter. Parallel Advisors LLC now owns 3,075 shares of the basic materials company's stock valued at $405,000 after buying an additional 104 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on RGLD. Royal Bank Of Canada decreased their price objective on shares of Royal Gold from $175.00 to $170.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Wall Street Zen raised shares of Royal Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Scotiabank raised shares of Royal Gold from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the company from $166.00 to $189.00 in a research report on Monday, April 14th. Raymond James Financial upped their price objective on shares of Royal Gold from $181.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Finally, Canaccord Genuity Group upped their price objective on shares of Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $192.13.

Royal Gold Stock Performance

Shares of RGLD stock opened at $179.79 on Friday. Royal Gold, Inc. has a one year low of $125.69 and a one year high of $191.78. The company's 50-day simple moving average is $178.47 and its 200-day simple moving average is $160.31. The stock has a market capitalization of $11.83 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 1.30 and a beta of 0.44.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.14. The firm had revenue of $193.44 million for the quarter, compared to analyst estimates of $176.17 million. Royal Gold had a net margin of 52.15% and a return on equity of 12.48%. Royal Gold's quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. As a group, research analysts forecast that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.80 annualized dividend and a dividend yield of 1.00%. Royal Gold's payout ratio is currently 29.80%.

About Royal Gold

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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