The Manufacturers Life Insurance Company Has $10.79 Million Stock Position in Royal Gold, Inc. $RGLD

Key Points

• The Manufacturers Life Insurance Company reduced its Royal Gold stake by 26% in the first quarter, selling 14,865 shares and retaining 42,394 shares valued at approximately $10.79 million. Institutional investors and hedge funds collectively own 83.65% of the company.
• Royal Gold shares opened at $202.04, compared with a 52-week range of $154.32 to $306.25. The company recently paid a quarterly dividend of $0.475 per share, representing a 0.9% annualized yield.
• Analysts maintain a “Moderate Buy” consensus on RGLD, with nine Buy ratings, three Holds and one Sell; the average price target is $280.27.

The Manufacturers Life Insurance Company cut its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 26.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,394 shares of the basic materials company's stock after selling 14,865 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Royal Gold were worth $10,789,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Greenleaf Trust increased its stake in shares of Royal Gold by 2.9% in the 4th quarter. Greenleaf Trust now owns 1,538 shares of the basic materials company's stock valued at $342,000 after acquiring an additional 43 shares in the last quarter. Bank of Nova Scotia grew its stake in shares of Royal Gold by 2.9% in the 1st quarter. Bank of Nova Scotia now owns 1,526 shares of the basic materials company's stock valued at $388,000 after buying an additional 43 shares during the period. Apollon Wealth Management LLC increased its position in Royal Gold by 1.5% in the 1st quarter. Apollon Wealth Management LLC now owns 2,905 shares of the basic materials company's stock valued at $739,000 after buying an additional 44 shares in the last quarter. WPG Advisers LLC raised its stake in Royal Gold by 34.1% during the 4th quarter. WPG Advisers LLC now owns 181 shares of the basic materials company's stock worth $40,000 after buying an additional 46 shares during the period. Finally, Hilltop Holdings Inc. raised its stake in Royal Gold by 0.6% during the 1st quarter. Hilltop Holdings Inc. now owns 7,432 shares of the basic materials company's stock worth $1,891,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 83.65% of the company's stock.

Royal Gold Stock Performance

Shares of RGLD opened at $202.04 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.26 and a current ratio of 3.52. The stock has a 50 day moving average price of $204.95 and a two-hundred day moving average price of $240.87. The firm has a market capitalization of $17.15 billion, a P/E ratio of 24.08, a P/E/G ratio of 1.45 and a beta of 0.44. Royal Gold, Inc. has a 52 week low of $154.32 and a 52 week high of $306.25.

Royal Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.9%. Royal Gold's payout ratio is presently 22.65%.

Insider Transactions at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $215.85, for a total value of $107,925.00. Following the completion of the sale, the senior vice president directly owned 8,582 shares of the company's stock, valued at approximately $1,852,424.70. This represents a 5.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on RGLD. Zacks Research raised Royal Gold from a "strong sell" rating to a "hold" rating in a research note on Thursday, July 2nd. Jefferies Financial Group lowered their target price 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. Scotiabank reissued a "sector perform" rating and issued a $310.00 price target on shares of Royal Gold in a research report on Tuesday, July 14th. UBS Group decreased their price target on shares of Royal Gold from $325.00 to $280.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Finally, Weiss Ratings downgraded shares of Royal Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 11th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $280.27.

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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