Victory Capital Management Inc. Has $59.80 Million Stake in Royal Gold, Inc. $RGLD

Key Points

• Victory Capital Management cut its position in Royal Gold by 15.4%, selling 54,205 shares and finishing the quarter with 298,121 shares worth about $59.8 million (0.45% of the company).
• Quarterly results: Royal Gold missed expectations with EPS of $1.92 vs. $2.68 estimated and revenue of $360.85M vs. $425.47M expected, though revenue rose 85.2% year-over-year.
• Dividend and analyst view: The company declared a $0.475 quarterly dividend (annualized $1.90, ~0.7% yield), and analysts' consensus is a "Moderate Buy" with an average price target of $251.50.

Victory Capital Management Inc. lowered its position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 15.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 298,121 shares of the basic materials company's stock after selling 54,205 shares during the period. Victory Capital Management Inc. owned 0.45% of Royal Gold worth $59,797,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. CI Investments Inc. raised its position in Royal Gold by 6.7% in the 3rd quarter. CI Investments Inc. now owns 49,948 shares of the basic materials company's stock valued at $10,019,000 after purchasing an additional 3,151 shares during the last quarter. Elo Mutual Pension Insurance Co grew its holdings in shares of Royal Gold by 2.0% during the third quarter. Elo Mutual Pension Insurance Co now owns 10,745 shares of the basic materials company's stock worth $2,155,000 after purchasing an additional 208 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Royal Gold by 9.5% in the third quarter. William Blair Investment Management LLC now owns 2,791 shares of the basic materials company's stock valued at $560,000 after buying an additional 242 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Royal Gold in the third quarter valued at about $1,622,000. Finally, Caitlin John LLC bought a new position in shares of Royal Gold in the third quarter valued at about $154,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Royal Gold Stock Performance

Shares of NASDAQ:RGLD opened at $279.84 on Friday. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.12. Royal Gold, Inc. has a 1-year low of $149.66 and a 1-year high of $306.25. The stock has a market capitalization of $23.73 billion, a P/E ratio of 41.09, a P/E/G ratio of 1.67 and a beta of 0.48. The business has a 50-day moving average price of $268.78 and a two-hundred day moving average price of $219.65.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.92 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.76). The business had revenue of $360.85 million for the quarter, compared to analyst estimates of $425.47 million. Royal Gold had a return on equity of 11.89% and a net margin of 45.26%.The firm's quarterly revenue was up 85.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.63 EPS. Equities analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Thursday, April 2nd will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, April 2nd. Royal Gold's payout ratio is currently 27.90%.

Insider Buying and Selling at Royal Gold

In other Royal Gold news, SVP Daniel Breeze sold 1,400 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $300.87, for a total transaction of $421,218.00. Following the completion of the sale, the senior vice president owned 20,140 shares in the company, valued at approximately $6,059,521.80. The trade was a 6.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William M. Hayes sold 4,173 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $277.07, for a total value of $1,156,213.11. Following the completion of the transaction, the director directly owned 6,129 shares in the company, valued at approximately $1,698,162.03. This trade represents a 40.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RGLD shares. Weiss Ratings reissued a "buy (b)" rating on shares of Royal Gold in a report on Thursday, January 22nd. Jefferies Financial Group reiterated a "buy" rating and set a $270.00 target price on shares of Royal Gold in a research report on Sunday, December 7th. TD Cowen raised their price target on shares of Royal Gold from $261.00 to $263.00 and gave the company a "buy" rating in a report on Tuesday, November 18th. Zacks Research cut shares of Royal Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Finally, Scotiabank downgraded Royal Gold from a "sector outperform" rating to a "sector perform" rating and set a $335.00 price objective on the stock. in a report on Monday, January 26th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $251.50.

About Royal Gold

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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