Gabelli Funds LLC Lowers Stock Holdings in Royal Gold, Inc. $RGLD

Gabelli Funds LLC lessened its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 211,940 shares of the basic materials company’s stock after selling 12,200 shares during the period. Gabelli Funds LLC owned 0.25% of Royal Gold worth $53,937,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Louisbourg Investments Inc. purchased a new position in Royal Gold during the 4th quarter worth $3,938,000. SG Americas Securities LLC boosted its holdings in shares of Royal Gold by 52.8% in the fourth quarter. SG Americas Securities LLC now owns 17,671 shares of the basic materials company’s stock valued at $3,928,000 after acquiring an additional 6,109 shares in the last quarter. Plancorp LLC boosted its holdings in shares of Royal Gold by 69.8% in the fourth quarter. Plancorp LLC now owns 13,732 shares of the basic materials company’s stock valued at $3,053,000 after acquiring an additional 5,646 shares in the last quarter. Bar Harbor Wealth Management acquired a new position in shares of Royal Gold during the fourth quarter worth about $7,916,000. Finally, World Investment Advisors acquired a new position in shares of Royal Gold during the fourth quarter worth about $1,024,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Randy Shefman sold 500 shares of the firm’s 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 transaction, the senior vice president owned 8,582 shares in the company, valued at $1,852,424.70. This trade represents a 5.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.35% of the company’s stock.

Royal Gold Stock Performance

RGLD opened at $200.96 on Friday. Royal Gold, Inc. has a 1-year low of $150.75 and a 1-year high of $306.25. The stock has a market cap of $17.06 billion, a P/E ratio of 23.95, a P/E/G ratio of 1.37 and a beta of 0.44. The stock’s 50 day simple moving average is $207.65 and its 200 day simple moving average is $242.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.52 and a quick ratio of 3.26.

Royal Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd were issued a $0.475 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.90 annualized dividend and a yield of 0.9%. Royal Gold’s dividend payout ratio is 22.65%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RGLD shares. UBS Group cut their price target on shares of Royal Gold from $325.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Scotiabank reaffirmed a “sector perform” rating and issued a $310.00 price objective on shares of Royal Gold in a report on Tuesday, July 14th. Royal Bank Of Canada dropped their target price on Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group cut their target price on Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, Zacks Research raised Royal Gold from a “strong sell” rating to a “hold” rating in a report on Thursday, July 2nd. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.