Royal Gold, Inc. $RGLD Stake Cut by Barlow Wealth Partners LLC

Key Points

• Barlow Wealth Partners cut its Royal Gold stake by 25.2% in the third quarter, selling 28,537 shares and retaining 84,763 shares worth approximately $19.9 million. Institutional investors collectively own 83.65% of the company.
• Royal Gold reported quarterly adjusted EPS of $2.56, slightly exceeding estimates, while revenue rose 114.9% year over year to $468.98 million. The company also declared a quarterly dividend of $0.475 per share, representing a 0.8% yield.
• Analysts maintain a “Moderate Buy” consensus on RGLD, with an average price target of $298.30 compared with the reported share price of $233.00.

Barlow Wealth Partners LLC decreased its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 25.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 84,763 shares of the basic materials company's stock after selling 28,537 shares during the period. Royal Gold accounts for about 2.1% of Barlow Wealth Partners LLC's portfolio, making the stock its 25th largest position. Barlow Wealth Partners LLC owned 0.10% of Royal Gold worth $19,864,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Axiom Investment Management LLC purchased a new position in Royal Gold during the first quarter valued at approximately $25,000. Grove Bank & Trust raised its stake in Royal Gold by 88.6% in the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company's stock worth $26,000 after buying an additional 62 shares in the last quarter. Eastern Bank raised its stake in Royal Gold by 622.2% in the third quarter. Eastern Bank now owns 130 shares of the basic materials company's stock worth $31,000 after buying an additional 112 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in Royal Gold during the first quarter worth $32,000. Finally, Core Capital Management & Research inc. purchased a new stake in Royal Gold during the second quarter worth $32,000. Institutional investors own 83.65% of the company's stock.

Royal Gold Price Performance

NASDAQ RGLD opened at $233.00 on Friday. The firm's fifty day simple moving average is $246.45 and its two-hundred day simple moving average is $231.26. The firm has a market capitalization of $19.74 billion, a P/E ratio of 23.30, a P/E/G ratio of 1.69 and a beta of 0.45. The company has a current ratio of 2.92, a quick ratio of 2.68 and a debt-to-equity ratio of 0.05. Royal Gold, Inc. has a 12-month low of $168.88 and a 12-month high of $306.25.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, beating the consensus estimate of $2.55 by $0.01. The firm had revenue of $468.98 million during the quarter, compared to analyst estimates of $458.85 million. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%. The business's revenue for the quarter was up 114.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.81 EPS. Analysts forecast that Royal Gold, Inc. will post 10.30 EPS for the current fiscal year.

Royal Gold Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have issued reports on RGLD. Weiss Ratings raised Royal Gold from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. Zacks Research raised Royal Gold from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. Jefferies Financial Group reduced their price target on Royal Gold from $318.00 to $311.00 and set a "buy" rating for the company in a research report on Monday, July 6th. UBS Group upped their price objective on Royal Gold from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada raised their price objective on Royal Gold from $305.00 to $325.00 and gave the company an "outperform" rating in a research report on Wednesday, September 16th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $298.30.

Insider Transactions at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the company's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $262.80, for a total transaction 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. This represents a 5.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.35% of the stock is owned by corporate insiders.

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 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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