First Trust Advisors LP Has $2.72 Million Position in Royal Gold, Inc (RGLD)
First Trust Advisors LP grew its holdings in Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 784.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,308 shares of the basic materials company’s stock after purchasing an additional 25,996 shares during the period. First Trust Advisors LP’s holdings in Royal Gold were worth $2,721,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. Aperio Group LLC increased its stake in Royal Gold by 8.6% in the second quarter. Aperio Group LLC now owns 85,564 shares of the basic materials company’s stock worth $7,944,000 after purchasing an additional 6,742 shares during the period. Advisor Partners LLC purchased a new stake in Royal Gold in the second quarter worth $219,000. BNP Paribas Arbitrage SA increased its stake in Royal Gold by 1,704.0% in the second quarter. BNP Paribas Arbitrage SA now owns 63,375 shares of the basic materials company’s stock worth $5,884,000 after purchasing an additional 59,862 shares during the period. Janney Montgomery Scott LLC increased its stake in Royal Gold by 20.0% in the second quarter. Janney Montgomery Scott LLC now owns 9,888 shares of the basic materials company’s stock worth $918,000 after purchasing an additional 1,645 shares during the period. Finally, Mizuho Securities USA LLC increased its stake in Royal Gold by 46.7% in the second quarter. Mizuho Securities USA LLC now owns 11,000 shares of the basic materials company’s stock worth $1,021,000 after purchasing an additional 3,500 shares during the period. Institutional investors and hedge funds own 74.87% of the company’s stock.
In other news, CEO Tony A. Jensen sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 3rd. The stock was sold at an average price of $95.11, for a total transaction of $1,902,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP William Holmes Heissenbuttel sold 6,480 shares of Royal Gold stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $91.91, for a total value of $595,576.80. Following the completion of the transaction, the vice president now owns 80,032 shares in the company, valued at approximately $7,355,741.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,931 shares of company stock worth $3,463,106. Insiders own 1.12% of the company’s stock.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, August 8th. The basic materials company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $116.20 million for the quarter, compared to analyst estimates of $115.57 million. Royal Gold had a positive return on equity of 5.17% and a negative net margin of 24.65%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 earnings per share. sell-side analysts predict that Royal Gold, Inc will post 1.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 19th. Stockholders of record on Friday, October 5th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, October 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. Royal Gold’s dividend payout ratio is currently 56.82%.
A number of analysts have weighed in on the company. BidaskClub upgraded Royal Gold from a “sell” rating to a “hold” rating in a research note on Wednesday, June 27th. Zacks Investment Research upgraded Royal Gold from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a research note on Monday, July 9th. ValuEngine upgraded Royal Gold from a “hold” rating to a “buy” rating in a research note on Monday, June 11th. Desjardins reiterated a “buy” rating and issued a $100.00 target price on shares of Royal Gold in a research note on Wednesday, July 18th. Finally, National Bank Financial reduced their target price on Royal Gold from $102.50 to $97.50 and set a “sector perform” rating on the stock in a research note on Saturday, July 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $98.95.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and similar interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests. As of June 30, 2017, the company owned stream interests in 4 producing property and 2 development stage properties; and owned royalty interests in 35 producing properties, 18 development stage properties, and 135 exploration stage properties.
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