Royal Gold, Inc. $RGLD Shares Acquired by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue increased its stake in Royal Gold by 53.6% in Q4, acquiring 3,762 shares to hold 10,787 shares valued at $2.397 million; institutional investors own 83.65% of the company.
• Company insiders have been net sellers recently—SVP Daniel Breeze sold 1,400 shares at $300.87 and Director Mark Isto sold 2,000 at $274.83, with insiders offloading 7,573 shares worth $2.127 million over the past three months (insiders now own 0.49%).
• Royal Gold missed quarterly estimates (EPS $1.92 vs. $2.68 and revenue $310.8M vs. $425.5M) despite revenue rising 85.2% YoY; it pays a $0.475 quarterly dividend (annualized $1.90, ~0.7% yield) and holds a consensus Moderate Buy rating with an average target of $273.64.

State of Alaska Department of Revenue increased its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 53.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,787 shares of the basic materials company's stock after acquiring an additional 3,762 shares during the quarter. State of Alaska Department of Revenue's holdings in Royal Gold were worth $2,397,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Greenleaf Trust lifted its stake in shares of Royal Gold by 2.9% in the fourth quarter. Greenleaf Trust now owns 1,538 shares of the basic materials company's stock worth $342,000 after acquiring an additional 43 shares in the last quarter. Encompass More Asset Management lifted its stake in shares of Royal Gold by 4.2% in the third quarter. Encompass More Asset Management now owns 1,283 shares of the basic materials company's stock worth $257,000 after acquiring an additional 52 shares in the last quarter. Sowell Financial Services LLC raised its stake in Royal Gold by 4.0% during the third quarter. Sowell Financial Services LLC now owns 1,368 shares of the basic materials company's stock valued at $274,000 after buying an additional 52 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Royal Gold by 33.9% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 221 shares of the basic materials company's stock valued at $44,000 after buying an additional 56 shares in the last quarter. Finally, Compound Planning Inc. raised its stake in Royal Gold by 4.4% during the third quarter. Compound Planning Inc. now owns 1,315 shares of the basic materials company's stock valued at $264,000 after buying an additional 56 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Insiders Place Their Bets

In other Royal Gold news, SVP Daniel Breeze sold 1,400 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $300.87, for a total value of $421,218.00. Following the sale, the senior vice president directly owned 20,140 shares of the company's stock, valued at $6,059,521.80. This trade represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Isto sold 2,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $274.83, for a total value of $549,660.00. Following the completion of the sale, the director directly owned 20,043 shares in the company, valued at $5,508,417.69. This represents a 9.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,573 shares of company stock valued at $2,127,091 over the last three months. Company insiders own 0.49% of the company's stock.

Royal Gold Price Performance

Shares of RGLD opened at $268.12 on Friday. Royal Gold, Inc. has a 12 month low of $150.75 and a 12 month high of $306.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.91. The stock has a fifty day moving average price of $266.68 and a 200 day moving average price of $234.34. The company has a market cap of $22.75 billion, a P/E ratio of 39.37, a PEG ratio of 1.57 and a beta of 0.55.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its earnings results on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.76). Royal Gold had a return on equity of 11.89% and a net margin of 45.26%.The company had revenue of $310.83 million during the quarter, compared to analyst estimates of $425.47 million. During the same period in the prior year, the business earned $1.63 earnings per share. Royal Gold's quarterly revenue was up 85.2% on a year-over-year basis. On average, research analysts forecast that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Thursday, April 2nd were given a $0.475 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $1.90 annualized dividend and a yield of 0.7%. Royal Gold's dividend payout ratio (DPR) is currently 27.90%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RGLD. Canadian Imperial Bank of Commerce restated a "neutral" rating and set a $330.00 price objective on shares of Royal Gold in a research note on Wednesday, February 4th. UBS Group set a $325.00 price objective on Royal Gold and gave the company a "buy" rating in a research note on Wednesday. National Bank Financial cut their price objective on Royal Gold from $350.00 to $340.00 and set an "outperform" rating on the stock in a research note on Friday. Zacks Research cut Royal Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Finally, Scotiabank cut Royal Gold from a "sector outperform" rating to a "sector perform" rating and set a $335.00 price objective on the stock. in a research note on Monday, January 26th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $273.64.

Royal Gold Company Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company's portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.

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