Royal Gold, Inc. (RGLD) Shares Sold by Beacon Financial Group
Beacon Financial Group cut its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,872 shares of the basic materials company’s stock after selling 1,197 shares during the quarter. Beacon Financial Group owned approximately 0.07% of Royal Gold worth $4,119,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new position in Royal Gold in the 2nd quarter valued at $104,000. Almanack Investment Partners LLC. acquired a new position in Royal Gold in the 2nd quarter valued at $109,000. Mountain Capital Investment Advisors Inc acquired a new position in Royal Gold in the 2nd quarter valued at $109,000. MUFG Americas Holdings Corp acquired a new position in Royal Gold in the 2nd quarter valued at $117,000. Finally, KBC Group NV acquired a new position in Royal Gold in the 2nd quarter valued at $142,000. Institutional investors and hedge funds own 70.34% of the company’s stock.
In other Royal Gold news, VP Bruce Christopher Kirchhoff sold 28,805 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $86.28, for a total value of $2,485,295.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Stefan Wenger sold 1,129 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $85.00, for a total transaction of $95,965.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 106,345 shares of company stock worth $9,279,753. Corporate insiders own 1.12% of the company’s stock.
Shares of Royal Gold, Inc. (RGLD) traded down 0.18% during mid-day trading on Wednesday, reaching $87.43. 89,294 shares of the company’s stock were exchanged. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 56.41 and a beta of 0.57. The stock’s 50-day moving average is $89.79 and its 200-day moving average is $81.26. Royal Gold, Inc. has a 52-week low of $60.21 and a 52-week high of $94.39.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, August 9th. The basic materials company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.02). Royal Gold had a net margin of 23.03% and a return on equity of 4.19%. The company had revenue of $108.90 million during the quarter, compared to analyst estimates of $108.72 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Royal Gold’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, equities analysts expect that Royal Gold, Inc. will post $1.81 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.96 annualized dividend and a dividend yield of 1.10%. Royal Gold’s dividend payout ratio is currently 61.54%.
A number of research analysts recently issued reports on the stock. FBR & Co raised their target price on shares of Royal Gold from $81.00 to $85.00 and gave the company a “market perform” rating in a research note on Wednesday, August 16th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Royal Gold in a research note on Thursday, September 7th. BMO Capital Markets reiterated a “buy” rating and issued a $95.00 target price on shares of Royal Gold in a research note on Wednesday, September 6th. Canaccord Genuity reiterated a “buy” rating and issued a $105.00 target price (up from $99.00) on shares of Royal Gold in a research note on Thursday, August 10th. Finally, National Bank Financial raised their target price on shares of Royal Gold from $82.50 to $92.50 and gave the company a “sector perform” rating in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $92.68.
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Royal Gold Company Profile
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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