Kingsview Wealth Management LLC Sells 51,307 Shares of Royal Gold, Inc. $RGLD

Kingsview Wealth Management LLC trimmed its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 93.4% during the third quarter, HoldingsChannel reports. The firm owned 3,621 shares of the basic materials company’s stock after selling 51,307 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Royal Gold were worth $726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its stake in shares of Royal Gold by 8.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,820,435 shares of the basic materials company’s stock worth $319,140,000 after purchasing an additional 137,524 shares during the last quarter. Geode Capital Management LLC lifted its stake in Royal Gold by 3.6% in the second quarter. Geode Capital Management LLC now owns 1,751,136 shares of the basic materials company’s stock valued at $311,457,000 after purchasing an additional 61,352 shares during the last quarter. Invesco Ltd. grew its holdings in Royal Gold by 19.5% during the second quarter. Invesco Ltd. now owns 928,332 shares of the basic materials company’s stock valued at $165,095,000 after purchasing an additional 151,492 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Royal Gold by 52.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 833,181 shares of the basic materials company’s stock worth $148,173,000 after buying an additional 286,268 shares during the last quarter. Finally, Swedbank AB increased its position in Royal Gold by 35.0% in the third quarter. Swedbank AB now owns 424,129 shares of the basic materials company’s stock worth $85,072,000 after buying an additional 109,981 shares during the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RGLD shares. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating and set a $330.00 price target on shares of Royal Gold in a research report on Wednesday, February 4th. Scotiabank downgraded shares of Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 price objective on the stock. in a report on Monday, January 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Gold in a research note on Thursday, January 22nd. TD Cowen upped their price target on shares of Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $270.00 price objective on shares of Royal Gold in a research note on Sunday, December 7th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Royal Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.50.

Royal Gold Price Performance

Shares of Royal Gold stock opened at $279.84 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.91. Royal Gold, Inc. has a one year low of $149.66 and a one year high of $306.25. The business’s 50 day simple moving average is $268.78 and its two-hundred day simple moving average is $219.65. The stock has a market capitalization of $23.73 billion, a P/E ratio of 41.09, a price-to-earnings-growth ratio of 1.67 and a beta of 0.48.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.76). Royal Gold had a return on equity of 11.89% and a net margin of 45.26%.The business had revenue of $360.85 million during the quarter, compared to the consensus estimate of $425.47 million. During the same quarter in the prior year, the business posted $1.63 earnings per share. Royal Gold’s quarterly revenue was up 85.2% compared to the same quarter last year. Analysts forecast that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Thursday, April 2nd will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, April 2nd. Royal Gold’s payout ratio is 27.90%.

Insiders Place Their Bets

In other Royal Gold news, SVP Daniel Breeze sold 1,400 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $300.87, for a total transaction of $421,218.00. Following the completion of the sale, the senior vice president directly owned 20,140 shares in the company, valued at approximately $6,059,521.80. This trade represents a 6.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William M. Hayes sold 4,173 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $277.07, for a total value of $1,156,213.11. Following the sale, the director owned 6,129 shares in the company, valued at approximately $1,698,162.03. This represents a 40.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.49% of the company’s stock.

Royal Gold Company Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.