Royal Gold, Inc. $RGLD Stock Sold by IFP Advisors Inc

Key Points

• IFP Advisors cut its Royal Gold stake by 78.9% in the third quarter, selling 6,019 shares and retaining 1,611 shares valued at approximately $380,000. Institutional investors overall own 83.65% of the company.
• Analysts remain generally positive, with eight Buy ratings and three Holds. Royal Gold has a “Moderate Buy” consensus rating and an average price target of $309.56.
• Royal Gold exceeded quarterly expectations, reporting $2.56 in EPS and $468.98 million in revenue, with revenue up 114.9% year over year. The company also maintains a quarterly dividend of $0.475 per share, or $1.90 annualized.

IFP Advisors Inc lowered its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 78.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,611 shares of the basic materials company's stock after selling 6,019 shares during the period. IFP Advisors Inc's holdings in Royal Gold were worth $380,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Royal Gold in the 2nd quarter valued at $2,177,865,000. Bank of New York Mellon Corp acquired a new stake in Royal Gold in the second quarter worth about $150,762,000. Findlay Park Partners LLP bought a new stake in Royal Gold during the 2nd quarter worth about $111,392,000. Bank of America Corp DE bought a new stake in Royal Gold during the 2nd quarter worth about $88,124,000. Finally, Deutsche Bank AG bought a new stake in Royal Gold during the 2nd quarter worth about $69,325,000. Institutional investors own 83.65% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RGLD shares. Scotiabank reaffirmed a "sector perform" rating and issued a $310.00 price objective on shares of Royal Gold in a research note on Tuesday, July 14th. Raymond James Financial reiterated an "outperform" rating and set a $336.00 target price on shares of Royal Gold in a research report on Tuesday, October 20th. Royal Bank Of Canada upped their target price on shares of Royal Gold from $305.00 to $325.00 and gave the company an "outperform" rating in a research report on Wednesday, September 16th. Canadian Imperial Bank of Commerce set a $305.00 price target on Royal Gold in a research note on Friday, October 16th. Finally, Jefferies Financial Group reduced their price target on Royal Gold from $318.00 to $311.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $309.56.

Royal Gold Stock Performance

Shares of NASDAQ:RGLD opened at $227.42 on Monday. The firm has a market cap of $19.27 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.68 and a beta of 0.45. Royal Gold, Inc. has a 12 month low of $168.88 and a 12 month high of $306.25. The company's fifty day simple moving average is $247.04 and its 200 day simple moving average is $230.37. 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 earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.01. The business had revenue of $468.98 million for 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%. Royal Gold's revenue for the quarter was up 114.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.81 EPS. As a group, research analysts forecast that Royal Gold, Inc. will post 10.47 EPS for the current fiscal year.

Royal Gold Announces Dividend

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

Insider Transactions at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the business's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $262.80, for a total transaction of $131,400.00. Following the sale, 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 filing with the SEC, which is available through this link. Insiders own 0.35% of the company's stock.

Royal Gold Profile

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. The company provides financing to mining companies in exchange for the right to purchase a portion of the gold, silver, copper, or other metals produced from their mines, typically at predetermined prices. It also holds royalty interests that entitle it to a percentage of revenue or production from mining operations without directly operating the mines.

Royal Gold's business is focused on acquiring and managing a diversified portfolio of streaming and royalty interests.

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