Wealthfront Advisers LLC Sells 11,751 Shares of Royal Gold, Inc. (NASDAQ:RGLD)

Wealthfront Advisers LLC reduced its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 82.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,454 shares of the basic materials company's stock after selling 11,751 shares during the quarter. Wealthfront Advisers LLC's holdings in Royal Gold were worth $401,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Oxbow Advisors LLC increased its holdings in Royal Gold by 1.8% in the first quarter. Oxbow Advisors LLC now owns 116,887 shares of the basic materials company's stock valued at $19,112,000 after buying an additional 2,039 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Royal Gold by 8.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 27,196 shares of the basic materials company's stock worth $4,447,000 after acquiring an additional 2,015 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Royal Gold by 38.1% in the first quarter. QRG Capital Management Inc. now owns 3,718 shares of the basic materials company's stock worth $608,000 after acquiring an additional 1,025 shares during the last quarter. City Center Advisors LLC acquired a new position in Royal Gold during the first quarter worth $324,000. Finally, DAVENPORT & Co LLC bought a new stake in Royal Gold during the first quarter valued at about $204,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Royal Gold Stock Up 0.4%

Shares of NASDAQ RGLD traded up $0.61 during midday trading on Tuesday, reaching $158.09. 1,227,586 shares of the company were exchanged, compared to its average volume of 482,491. Royal Gold, Inc. has a one year low of $125.69 and a one year high of $191.78. The stock has a market cap of $10.41 billion, a P/E ratio of 26.17, a PEG ratio of 1.10 and a beta of 0.44. The stock's 50-day moving average price is $174.19 and its 200-day moving average price is $162.50.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its earnings results on Wednesday, May 7th. The basic materials company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.14. Royal Gold had a net margin of 52.15% and a return on equity of 12.48%. The business had revenue of $193.44 million for the quarter, compared to analysts' expectations of $176.17 million. During the same period in the prior year, the company posted $0.91 EPS. The business's revenue for the quarter was up 29.9% compared to the same quarter last year. On average, equities research analysts anticipate that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Thursday, July 3rd. Royal Gold's payout ratio is 29.80%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Scotiabank raised shares of Royal Gold from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the company from $166.00 to $189.00 in a report on Monday, April 14th. Wall Street Zen raised shares of Royal Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Raymond James Financial upped their target price on shares of Royal Gold from $181.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. CIBC lifted their price objective on shares of Royal Gold from $202.00 to $215.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Canaccord Genuity Group lifted their target price on Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $192.13.

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.