Millennium Management LLC Has $19.61 Million Stock Holdings in Royal Gold, Inc. (NASDAQ:RGLD)

Millennium Management LLC lessened its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 33.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 148,741 shares of the basic materials company's stock after selling 76,031 shares during the quarter. Millennium Management LLC owned about 0.23% of Royal Gold worth $19,612,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RGLD. Norges Bank acquired a new stake in shares of Royal Gold during the 4th quarter worth about $44,009,000. BLI Banque de Luxembourg Investments acquired a new stake in shares of Royal Gold during the 4th quarter worth about $27,536,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Royal Gold by 181.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 302,206 shares of the basic materials company's stock worth $39,846,000 after buying an additional 194,905 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Royal Gold by 19.6% during the 4th quarter. Northern Trust Corp now owns 1,029,431 shares of the basic materials company's stock worth $135,730,000 after buying an additional 168,569 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Royal Gold by 18.1% during the 4th quarter. AQR Capital Management LLC now owns 997,054 shares of the basic materials company's stock worth $131,412,000 after buying an additional 152,599 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RGLD shares. Wall Street Zen upgraded shares of Royal Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Raymond James lifted their price objective on shares of Royal Gold from $181.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. BMO Capital Markets set a $197.00 price objective on shares of Royal Gold and gave the stock a "market perform" rating in a research note on Thursday, May 22nd. CIBC lifted their price objective on shares of Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Royal Bank of Canada dropped 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 note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Royal Gold presently has a consensus rating of "Moderate Buy" and a consensus target price of $183.13.

Insider Activity

In related news, SVP Randy Shefman sold 1,300 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $154.98, for a total transaction of $201,474.00. Following the completion of the transaction, the senior vice president now directly owns 9,360 shares in the company, valued at $1,450,612.80. This represents a 12.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.49% of the company's stock.

Royal Gold Stock Down 1.1%

Shares of NASDAQ:RGLD traded down $1.91 during midday trading on Tuesday, hitting $178.68. The stock had a trading volume of 323,458 shares, compared to its average volume of 418,242. The company's 50-day moving average price is $173.09 and its 200-day moving average price is $153.94. The company has a market capitalization of $11.76 billion, a P/E ratio of 35.45, a price-to-earnings-growth ratio of 3.42 and a beta of 0.48. Royal Gold, Inc. has a fifty-two week low of $119.72 and a fifty-two week high of $191.78.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its earnings results on Wednesday, May 7th. The basic materials company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.37 by $0.14. The company had revenue of $193.44 million during the quarter, compared to analysts' expectations of $176.17 million. Royal Gold had a net margin of 46.15% and a return on equity of 11.46%. The business's revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS. Research analysts expect that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Thursday, July 3rd will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Thursday, July 3rd. Royal Gold's payout ratio is presently 29.80%.

Royal Gold 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.