Royal Gold, Inc. $RGLD Shares Sold by Amundi

Key Points

• Amundi cut its Royal Gold stake by 32.9% in the second quarter, selling 64,990 shares and retaining 132,569 shares worth approximately $26.5 million. Institutional investors and hedge funds collectively own 83.65% of the company.
• Analysts maintain a generally positive view, with eight Buy, four Hold, and one Sell rating, resulting in a consensus “Moderate Buy” rating and an average price target of $287.82.
• Royal Gold exceeded quarterly expectations with $2.56 in EPS and $468.98 million in revenue, up 114.9% year over year. The company also announced a quarterly dividend of $0.475 per share, equivalent to a 0.8% annualized yield.

Amundi reduced its position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 32.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,569 shares of the basic materials company's stock after selling 64,990 shares during the period. Amundi owned approximately 0.16% of Royal Gold worth $26,462,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its holdings in shares of Royal Gold by 19,848.6% in the 2nd quarter. California State Teachers Retirement System now owns 19,665,976 shares of the basic materials company's stock valued at $3,925,525,000 after acquiring an additional 19,567,393 shares during the last quarter. BlackRock Inc. acquired a new stake in Royal Gold in the second quarter worth $2,177,865,000. Capital World Investors lifted its position in Royal Gold by 7.5% in the 4th quarter. Capital World Investors now owns 9,733,807 shares of the basic materials company's stock valued at $2,163,732,000 after purchasing an additional 678,732 shares during the last quarter. Van ECK Associates Corp grew its holdings in Royal Gold by 18.1% in the 4th quarter. Van ECK Associates Corp now owns 5,900,432 shares of the basic materials company's stock worth $1,311,607,000 after buying an additional 905,488 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Royal Gold by 11.9% during the fourth quarter. State Street Corp now owns 3,718,646 shares of the basic materials company's stock valued at $826,618,000 after purchasing an additional 396,778 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RGLD. Jefferies Financial Group cut their price target on shares of Royal Gold from $318.00 to $311.00 and set a "buy" rating for the company in a report on Monday, July 6th. TD lifted their price target on Royal Gold from $289.00 to $315.00 and gave the company a "buy" rating in a report on Thursday. Royal Bank Of Canada dropped their price target on Royal Gold from $310.00 to $305.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Scotiabank reissued a "sector perform" rating and set a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. Finally, Weiss Ratings lowered Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 4th. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Royal Gold has a consensus rating of "Moderate Buy" and a consensus target price of $287.82.

Insider Buying and Selling at Royal Gold

In other news, SVP Randy Shefman sold 500 shares of the business's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $262.80, for a total value of $131,400.00. Following the transaction, the senior vice president directly owned 8,082 shares of the company's stock, valued at $2,123,949.60. The trade was a 5.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.35% of the company's stock.

Royal Gold Stock Performance

Shares of NASDAQ RGLD opened at $252.28 on Friday. Royal Gold, Inc. has a 12 month low of $168.88 and a 12 month high of $306.25. The company has a market cap of $21.38 billion, a P/E ratio of 27.54, a P/E/G ratio of 1.91 and a beta of 0.50. The business's 50 day moving average is $226.03 and its two-hundred day moving average is $235.24. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.01. The business had revenue of $468.98 million for the quarter, compared to the consensus estimate of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. Royal Gold's quarterly revenue was up 114.9% on a year-over-year basis. During the same quarter last year, the company posted $1.81 earnings per share. On average, equities analysts expect that Royal Gold, Inc. will post 10.26 EPS for the current year.

Royal Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be issued a $0.475 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.8%. Royal Gold's dividend payout ratio is presently 20.74%.

Royal Gold Company Profile

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. Rather than operating mines directly, the company provides financing to mining companies in exchange for the right to purchase a portion of the metals produced from certain projects at predetermined prices, or to receive revenue-based payments tied to mineral production.

Royal Gold's portfolio is organized into two primary businesses: streams and royalties. Its streaming agreements generally provide rights to purchase gold, silver, copper or other metals from mining operations, while its royalty interests entitle the company to a percentage of revenue or production from a mine without bearing the operator's ongoing costs.

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