Euro Pacific Asset Management LLC Reduces Position in Royal Gold, Inc. (NASDAQ:RGLD)

Euro Pacific Asset Management LLC trimmed its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,266 shares of the basic materials company’s stock after selling 581 shares during the quarter. Royal Gold accounts for approximately 3.1% of Euro Pacific Asset Management LLC’s holdings, making the stock its 12th biggest holding. Euro Pacific Asset Management LLC owned about 0.18% of Royal Gold worth $16,734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MQS Management LLC purchased a new position in Royal Gold during the 3rd quarter valued at about $491,000. Victory Capital Management Inc. grew its position in shares of Royal Gold by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 194,326 shares of the basic materials company’s stock worth $27,264,000 after buying an additional 1,636 shares during the last quarter. Versor Investments LP purchased a new position in shares of Royal Gold during the third quarter valued at approximately $379,000. Los Angeles Capital Management LLC raised its holdings in shares of Royal Gold by 57.4% during the third quarter. Los Angeles Capital Management LLC now owns 2,961 shares of the basic materials company’s stock valued at $415,000 after acquiring an additional 1,080 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in Royal Gold by 5.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 23,059 shares of the basic materials company’s stock worth $3,235,000 after acquiring an additional 1,211 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Royal Gold Stock Performance

RGLD stock opened at $140.24 on Friday. The firm has a 50 day moving average price of $144.03 and a 200-day moving average price of $135.50. Royal Gold, Inc. has a 52-week low of $100.55 and a 52-week high of $155.10. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 1.12 and a beta of 0.90.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.13. Royal Gold had a return on equity of 10.18% and a net margin of 42.93%. The company had revenue of $193.84 million during the quarter, compared to analyst estimates of $184.12 million. During the same quarter last year, the company earned $0.76 EPS. The firm’s revenue for the quarter was up 39.8% on a year-over-year basis. As a group, sell-side analysts forecast that Royal Gold, Inc. will post 5.13 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Friday, October 4th. Royal Gold’s dividend payout ratio is presently 36.70%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of Royal Gold from $141.00 to $154.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Scotiabank boosted their price target on shares of Royal Gold from $148.00 to $157.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. TD Securities increased their price target on shares of Royal Gold from $181.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. StockNews.com raised Royal Gold from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Finally, Raymond James increased their target price on Royal Gold from $184.00 to $186.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $165.43.

Insider Buying and Selling

In related news, Director Ronald J. Vance sold 415 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $140.85, for a total value of $58,452.75. Following the transaction, the director now directly owns 8,194 shares of the company’s stock, valued at approximately $1,154,124.90. This represents a 4.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William M. Hayes sold 1,984 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $147.05, for a total value of $291,747.20. Following the sale, the director now owns 9,268 shares in the company, valued at approximately $1,362,859.40. This represents a 17.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,339 shares of company stock worth $1,329,902 in the last quarter. Corporate insiders own 0.52% of the company’s stock.

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.