ICM Asset Management Inc. WA Cuts Stake in Royal Gold, Inc. (RGLD)
ICM Asset Management Inc. WA cut its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 13.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,080 shares of the basic materials company’s stock after selling 3,790 shares during the period. Royal Gold makes up about 2.2% of ICM Asset Management Inc. WA’s portfolio, making the stock its 13th largest position. ICM Asset Management Inc. WA’s holdings in Royal Gold were worth $1,757,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new position in Royal Gold during the fourth quarter worth about $746,000. Tyers Asset Management LLC bought a new position in Royal Gold during the fourth quarter worth about $172,000. Flinton Capital Management LLC bought a new position in Royal Gold during the fourth quarter worth about $209,000. New York State Teachers Retirement System increased its position in Royal Gold by 1.0% in the fourth quarter. New York State Teachers Retirement System now owns 111,900 shares of the basic materials company’s stock worth $7,089,000 after buying an additional 1,100 shares during the last quarter. Finally, Credit Agricole S A increased its position in Royal Gold by 8.5% in the fourth quarter. Credit Agricole S A now owns 73,590 shares of the basic materials company’s stock worth $4,662,000 after buying an additional 5,754 shares during the last quarter. 70.72% of the stock is owned by institutional investors.
Shares of Royal Gold, Inc. (NASDAQ RGLD) traded up 1.10% during midday trading on Thursday, hitting $77.15. 335,258 shares of the company traded hands. Royal Gold, Inc. has a 52 week low of $60.21 and a 52 week high of $87.74. The stock has a market capitalization of $5.04 billion, a P/E ratio of 49.30 and a beta of 0.73. The company has a 50-day moving average price of $76.58 and a 200-day moving average price of $70.36.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, May 10th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.02. Royal Gold had a net margin of 23.93% and a return on equity of 4.22%. The company had revenue of $107 million for the quarter, compared to analyst estimates of $105.14 million. During the same quarter in the previous year, the company posted $0.29 EPS. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. Analysts anticipate that Royal Gold, Inc. will post $1.64 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 21st. Stockholders of record on Friday, July 7th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.24%. Royal Gold’s payout ratio is currently 61.15%.
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A number of equities analysts recently issued reports on the stock. Barclays PLC reissued an “overweight” rating and issued a $84.00 price target (up from $83.00) on shares of Royal Gold in a research note on Tuesday, June 6th. BMO Capital Markets reaffirmed a “buy” rating and set a $95.00 target price on shares of Royal Gold in a research note on Friday, May 26th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $83.00 target price on shares of Royal Gold in a research note on Monday, June 5th. Zacks Investment Research raised shares of Royal Gold from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th. Finally, BidaskClub downgraded shares of Royal Gold from a “buy” rating to a “hold” rating in a research note on Saturday, June 10th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Royal Gold presently has an average rating of “Buy” and an average price target of $89.04.
In other news, CEO Tony A. Jensen sold 25,000 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total value of $2,000,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stefan Wenger sold 2,500 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $80.00, for a total transaction of $200,000.00. The disclosure for this sale can be found here. Insiders sold 35,000 shares of company stock worth $2,758,220 in the last quarter. Company insiders own 1.37% of the company’s stock.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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