Wellington Management Group LLP Has $41.95 Million Holdings in Royal Gold, Inc. $RGLD

Key Points

• Wellington Management reduced its Royal Gold stake by 12.9% in the second quarter, selling 31,162 shares and retaining 210,134 shares valued at approximately $41.95 million. Institutional investors and hedge funds collectively own 83.65% of the company.
• Royal Gold reported quarterly EPS of $2.56, narrowly 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, equivalent to a 0.7% annual yield.
• Shares opened at $264.85, up 2.5%, while analyst sentiment remains mixed: Royal Gold has a consensus “Hold” rating and an average price target of $285.10.

Wellington Management Group LLP trimmed its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 12.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 210,134 shares of the basic materials company's stock after selling 31,162 shares during the period. Wellington Management Group LLP owned about 0.25% of Royal Gold worth $41,945,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RGLD. Axiom Investment Management LLC bought a new stake in shares of Royal Gold in the first quarter valued at about $25,000. Elyxium Wealth LLC bought a new stake in Royal Gold in the 4th quarter valued at $27,000. Gen Wealth Partners Inc bought a new position in Royal Gold during the fourth quarter worth $27,000. Scarborough Advisors LLC bought a new stake in shares of Royal Gold during the 1st quarter worth about $32,000. Finally, Grove Bank & Trust increased its stake in shares of Royal Gold by 88.6% during the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company's stock worth $26,000 after purchasing an additional 62 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Royal Gold Stock Up 2.5%

NASDAQ:RGLD opened at $264.85 on Friday. The firm's 50 day simple moving average is $219.27 and its 200 day simple moving average is $235.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68. Royal Gold, Inc. has a one year low of $168.88 and a one year high of $306.25. The company has a market cap of $22.44 billion, a PE ratio of 28.91, a P/E/G ratio of 1.94 and a beta of 0.50.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (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 analysts' expectations of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The company's revenue was up 114.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.81 EPS. On average, research analysts anticipate that Royal Gold, Inc. will post 10.26 earnings per share for the current year.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, October 2nd. Royal Gold's dividend payout ratio is presently 20.74%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Scotiabank restated a "sector perform" rating and set a $310.00 target price on shares of Royal Gold in a research report on Tuesday, July 14th. Weiss Ratings lowered Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 4th. Zacks Research cut Royal Gold from a "hold" rating to a "strong sell" rating in a research report on Friday, July 31st. Royal Bank Of Canada lowered their target price on Royal Gold from $310.00 to $305.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Finally, Jefferies Financial Group reduced their price target on shares of Royal Gold from $318.00 to $311.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Royal Gold presently has an average rating of "Hold" and a consensus price target of $285.10.

Insiders Place Their Bets

In other Royal Gold news, SVP Randy Shefman sold 500 shares of Royal Gold 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 approximately $2,123,949.60. The trade was a 5.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by insiders.

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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