Royal Gold, Inc. $RGLD Shares Sold by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd cut its Royal Gold stake by 31.7% in the third quarter, selling 178,466 shares and retaining 385,272 shares worth approximately $90.9 million. Institutional investors collectively own 83.65% of the company.
• Royal Gold shares rose 3.0% to $231.48, while analysts maintain a “Moderate Buy” consensus with an average price target of $289.64. Nine analysts rate the stock a Buy, three rate it Hold, and one rates it Sell.
• The company reported quarterly revenue of $468.98 million, up 114.9% year over year, and earnings of $2.56 per share, slightly above estimates. Royal Gold also declared a quarterly dividend of $0.475 per share, equivalent to a 0.8% annual yield.

Ninety One UK Ltd lessened its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 31.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 385,272 shares of the basic materials company's stock after selling 178,466 shares during the quarter. Ninety One UK Ltd owned approximately 0.45% of Royal Gold worth $90,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Axiom Investment Management LLC acquired a new stake in shares of Royal Gold during the 1st quarter worth about $25,000. Grove Bank & Trust raised its position in shares of Royal Gold by 88.6% in the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company's stock valued at $26,000 after buying an additional 62 shares during the last quarter. Eastern Bank raised its position in shares of Royal Gold by 622.2% in the third quarter. Eastern Bank now owns 130 shares of the basic materials company's stock valued at $31,000 after buying an additional 112 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of Royal Gold during the first quarter valued at approximately $32,000. Finally, Core Capital Management & Research inc. purchased a new position in shares of Royal Gold during the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 83.65% of the company's stock.

Royal Gold Trading Up 3.0%

Shares of RGLD stock traded up $6.64 on Thursday, reaching $231.48. 158,773 shares of the stock were exchanged, compared to its average volume of 840,619. The stock has a market cap of $19.61 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 1.75 and a beta of 0.45. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $246.15 and a two-hundred day moving average of $231.30. Royal Gold, Inc. has a 1-year low of $168.88 and a 1-year high of $306.25.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.01. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%. The business had revenue of $468.98 million for the quarter, compared to analyst estimates of $458.85 million. During the same period last year, the company posted $1.81 EPS. The business's quarterly revenue was up 114.9% on a year-over-year basis. On average, research analysts anticipate that Royal Gold, Inc. will post 10.30 EPS for the current year.

Royal Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 2nd will be paid a dividend of $0.4750 per share. The ex-dividend date is Friday, October 2nd. This represents a $1.90 annualized dividend and a yield of 0.8%. Royal Gold's dividend payout ratio is currently 20.74%.

Insider Buying and Selling

In other news, SVP Randy Shefman sold 500 shares of the firm's stock in a transaction dated 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 in the company, valued at $2,123,949.60. This trade represents a 5.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RGLD shares. UBS Group raised their target price on shares of Royal Gold from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Jefferies Financial Group lowered their target price on shares of Royal Gold from $318.00 to $311.00 and set a "buy" rating for the company in a research note on Monday, July 6th. TD boosted their price target on Royal Gold from $289.00 to $315.00 and gave the company a "buy" rating in a report on Friday, September 18th. Scotiabank reissued a "sector perform" rating and set a $310.00 price target on shares of Royal Gold in a research note on Tuesday, July 14th. Finally, Zacks Research raised Royal Gold from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $289.64.

Royal Gold Profile

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. Rather than operating mines directly, the company finances mining projects and acquires interests that provide rights to purchase a portion of the metals produced from those operations or to receive royalty payments based on mine revenue.

Royal Gold's portfolio is primarily focused on gold, with additional exposure to silver, copper and other metals. Its interests include streaming agreements and royalties associated with projects such as Pueblo Viejo in the Dominican Republic and Mount Milligan in British Columbia, Canada.

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