Russell Investments Group Ltd. Sells 41,079 Shares of Royal Gold, Inc. $RGLD

Russell Investments Group Ltd. reduced its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 35.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,915 shares of the basic materials company’s stock after selling 41,079 shares during the period. Russell Investments Group Ltd.’s holdings in Royal Gold were worth $13,145,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Kaufman Rossin Wealth LLC purchased a new stake in shares of Royal Gold in the 1st quarter worth $278,000. Swedbank AB raised its holdings in shares of Royal Gold by 75.1% in the first quarter. Swedbank AB now owns 207,155 shares of the basic materials company’s stock valued at $33,872,000 after acquiring an additional 88,828 shares in the last quarter. Autumn Glory Partners LLC purchased a new stake in Royal Gold in the second quarter worth about $587,000. Friedenthal Financial bought a new position in Royal Gold during the 2nd quarter worth about $882,000. Finally, Capital Investment Advisors LLC purchased a new position in Royal Gold during the 2nd quarter valued at about $278,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RGLD shares. TD Cowen upped their price target on shares of Royal Gold from $261.00 to $263.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. BMO Capital Markets set a $240.00 target price on Royal Gold and gave the stock an “outperform” rating in a report on Tuesday, October 21st. CIBC lifted their price target on Royal Gold from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Raymond James Financial set a $264.00 price objective on Royal Gold in a research note on Thursday, November 6th. Finally, Zacks Research raised Royal Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Royal Gold currently has an average rating of “Moderate Buy” and a consensus target price of $225.40.

Royal Gold Trading Down 1.3%

Shares of RGLD stock opened at $201.25 on Tuesday. Royal Gold, Inc. has a 12-month low of $130.67 and a 12-month high of $209.42. The business’s fifty day simple moving average is $190.03 and its 200-day simple moving average is $179.46. The company has a market cap of $16.99 billion, a PE ratio of 29.51, a PEG ratio of 0.96 and a beta of 0.39.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, November 5th. The basic materials company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.24). Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.The business had revenue of $250.23 million for the quarter, compared to analysts’ expectations of $275.11 million. During the same quarter last year, the firm earned $1.47 earnings per share. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. On average, equities analysts forecast that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, January 2nd. This is an increase from Royal Gold’s previous quarterly dividend of $0.45. Royal Gold’s payout ratio is 26.10%.

Royal Gold Company Profile

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.