NEXT Financial Group Inc lifted its position in shares of Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 56.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,995 shares of the basic materials company’s stock after acquiring an additional 2,171 shares during the quarter. NEXT Financial Group Inc’s holdings in Royal Gold were worth $739,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its position in shares of Royal Gold by 21.2% during the third quarter. Envestnet Asset Management Inc. now owns 19,096 shares of the basic materials company’s stock worth $2,353,000 after buying an additional 3,337 shares during the period. Optimum Investment Advisors increased its stake in shares of Royal Gold by 16.8% during the third quarter. Optimum Investment Advisors now owns 3,125 shares of the basic materials company’s stock worth $385,000 after purchasing an additional 450 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Royal Gold by 5.4% during the third quarter. Nisa Investment Advisors LLC now owns 31,950 shares of the basic materials company’s stock worth $3,937,000 after purchasing an additional 1,650 shares during the period. Meeder Asset Management Inc. bought a new position in Royal Gold during the 3rd quarter worth $169,000. Finally, Uncommon Cents Investing LLC bought a new position in Royal Gold during the 3rd quarter worth $203,000. Institutional investors and hedge funds own 78.19% of the company’s stock.
In other news, VP Bruce Christopher Kirchhoff sold 1,417 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $127.16, for a total value of $180,185.72. Following the completion of the sale, the vice president now directly owns 48,826 shares in the company, valued at $6,208,714.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Mark Isto sold 2,497 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $135.00, for a total transaction of $337,095.00. Following the sale, the vice president now owns 24,442 shares of the company’s stock, valued at $3,299,670. The disclosure for this sale can be found here. Insiders have sold 87,603 shares of company stock worth $11,107,708 over the last three months. 0.52% of the stock is currently owned by insiders.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03). Royal Gold had a return on equity of 4.42% and a net margin of 22.18%. The business had revenue of $115.69 million during the quarter, compared to analysts’ expectations of $112.30 million. As a group, analysts forecast that Royal Gold, Inc will post 2.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, October 3rd. Royal Gold’s dividend payout ratio (DPR) is presently 73.10%.
Several equities research analysts recently weighed in on RGLD shares. Barclays downgraded Royal Gold from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $88.00 to $105.00 in a report on Tuesday, July 16th. National Bank Financial lifted their price target on Royal Gold from $112.50 to $117.50 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. Bank of America downgraded Royal Gold to an “underperform” rating in a research note on Friday, June 28th. Royal Bank of Canada restated a “hold” rating on shares of Royal Gold in a research note on Sunday, August 11th. Finally, B. Riley set a $133.00 price objective on Royal Gold and gave the company a “buy” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $111.94.
Royal Gold Company Profile
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.
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