Kingsview Wealth Management LLC Sells 11,860 Shares of Royal Gold, Inc. $RGLD

Kingsview Wealth Management LLC trimmed its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 17.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,928 shares of the basic materials company’s stock after selling 11,860 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Royal Gold were worth $9,768,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RGLD. Intech Investment Management LLC raised its stake in Royal Gold by 11.4% during the 2nd quarter. Intech Investment Management LLC now owns 18,435 shares of the basic materials company’s stock worth $3,278,000 after buying an additional 1,891 shares during the period. Cetera Investment Advisers increased its position in shares of Royal Gold by 19.3% during the second quarter. Cetera Investment Advisers now owns 9,149 shares of the basic materials company’s stock worth $1,627,000 after acquiring an additional 1,483 shares in the last quarter. Creative Planning raised its stake in shares of Royal Gold by 28.0% in the 2nd quarter. Creative Planning now owns 12,451 shares of the basic materials company’s stock valued at $2,214,000 after purchasing an additional 2,723 shares during the period. SG Americas Securities LLC lifted its stake in Royal Gold by 530.6% in the 2nd quarter. SG Americas Securities LLC now owns 5,467 shares of the basic materials company’s stock valued at $972,000 after acquiring an additional 4,600 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Royal Gold by 7.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,910 shares of the basic materials company’s stock worth $3,007,000 after purchasing an additional 1,191 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Royal Gold in a research report on Thursday, October 23rd. CIBC upped their target price on Royal Gold from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Bank of America increased their price target on Royal Gold from $193.00 to $203.00 and gave the company an “underperform” rating in a research report on Thursday, October 16th. BMO Capital Markets set a $240.00 price target on Royal Gold and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Finally, Raymond James Financial set a $264.00 price objective on Royal Gold in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Royal Gold currently has a consensus rating of “Moderate Buy” and an average price target of $221.22.

Royal Gold Price Performance

RGLD stock opened at $185.83 on Friday. The company has a fifty day moving average price of $189.33 and a two-hundred day moving average price of $178.24. Royal Gold, Inc. has a one year low of $130.67 and a one year high of $209.42. The stock has a market cap of $15.68 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 0.96 and a beta of 0.39.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.24). The company had revenue of $250.23 million during the quarter, compared to the consensus estimate of $275.11 million. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. Royal Gold’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.47 earnings per share. Research analysts anticipate that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Royal Gold’s dividend payout ratio is presently 24.73%.

About Royal Gold

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.