Horizon Kinetics Asset Management LLC Has $21.09 Million Stake in Royal Gold, Inc. $RGLD

Horizon Kinetics Asset Management LLC raised its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 48.7% in the fourth quarter, Holdings Channel reports. The fund owned 94,876 shares of the basic materials company’s stock after acquiring an additional 31,056 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Royal Gold were worth $21,090,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RGLD. Goldman Sachs Group Inc. grew its stake in Royal Gold by 99.5% in the first quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company’s stock valued at $27,608,000 after acquiring an additional 84,206 shares during the period. Focus Partners Wealth grew its stake in Royal Gold by 51.5% in the first quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company’s stock valued at $1,384,000 after acquiring an additional 2,876 shares during the period. Brown Advisory Inc. grew its stake in Royal Gold by 28.9% in the second quarter. Brown Advisory Inc. now owns 3,551 shares of the basic materials company’s stock valued at $631,000 after acquiring an additional 796 shares during the period. Qube Research & Technologies Ltd grew its stake in Royal Gold by 43.0% in the second quarter. Qube Research & Technologies Ltd now owns 188,247 shares of the basic materials company’s stock valued at $33,478,000 after acquiring an additional 56,621 shares during the period. Finally, NewEdge Advisors LLC grew its stake in Royal Gold by 4.6% in the second quarter. NewEdge Advisors LLC now owns 24,551 shares of the basic materials company’s stock valued at $4,366,000 after acquiring an additional 1,072 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Royal Gold

In related news, Director Mark Isto sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $274.83, for a total transaction of $549,660.00. Following the completion of the transaction, the director directly owned 20,043 shares of the company’s stock, valued at approximately $5,508,417.69. This represents a 9.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Randy Shefman sold 1,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $243.74, for a total value of $243,740.00. Following the transaction, the senior vice president directly owned 9,082 shares of the company’s stock, valued at $2,213,646.68. This trade represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.35% of the stock is currently owned by company insiders.

Royal Gold Stock Down 0.4%

NASDAQ:RGLD opened at $204.79 on Wednesday. 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 company has a market cap of $17.38 billion, a PE ratio of 24.41, a PEG ratio of 1.53 and a beta of 0.41. Royal Gold, Inc. has a 52-week low of $150.75 and a 52-week high of $306.25. The stock has a 50-day simple moving average of $240.26 and a 200 day simple moving average of $245.38.

Royal Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 2nd will be issued a dividend of $0.475 per share. The ex-dividend date is Thursday, July 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.9%. Royal Gold’s dividend payout ratio (DPR) is presently 22.65%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RGLD. UBS Group set a $325.00 target price on Royal Gold and gave the company a “buy” rating in a research note on Wednesday, April 15th. National Bank Financial decreased their target price on Royal Gold from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Zacks Research cut Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Gold in a report on Tuesday, April 21st. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $273.64.

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.