Wellington Management Group LLP Has $41.95 Million Stake in Royal Gold, Inc. $RGLD

Wellington Management Group LLP cut its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 12.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 210,134 shares of the basic materials company’s stock after selling 31,162 shares during the quarter. Wellington Management Group LLP’s holdings in Royal Gold were worth $41,945,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of RGLD. Goldman Sachs Group Inc. boosted its position in shares of Royal Gold by 99.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company’s stock valued at $27,608,000 after purchasing an additional 84,206 shares in the last quarter. Focus Partners Wealth increased its holdings in Royal Gold by 51.5% in the first quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company’s stock worth $1,384,000 after purchasing an additional 2,876 shares in the last quarter. Brown Advisory Inc. increased its holdings in Royal Gold by 28.9% in the second quarter. Brown Advisory Inc. now owns 3,551 shares of the basic materials company’s stock worth $631,000 after purchasing an additional 796 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in Royal Gold by 43.0% in the second quarter. Qube Research & Technologies Ltd now owns 188,247 shares of the basic materials company’s stock valued at $33,478,000 after buying an additional 56,621 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in Royal Gold by 4.6% in the second quarter. NewEdge Advisors LLC now owns 24,551 shares of the basic materials company’s stock valued at $4,366,000 after buying an additional 1,072 shares during the period. Institutional investors own 83.65% of the company’s stock.

Insider Activity at Royal Gold

In other news, SVP Randy Shefman sold 500 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $262.80, for a total value of $131,400.00. Following the completion of the sale, the senior vice president owned 8,082 shares in the company, valued at $2,123,949.60. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on RGLD shares. UBS Group boosted their target price on shares of Royal Gold from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Weiss Ratings downgraded shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Royal Bank Of Canada dropped their price objective on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Jefferies Financial Group cut their price objective on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Finally, Scotiabank restated a “sector perform” rating and issued a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Royal Gold presently has an average rating of “Hold” and a consensus price target of $285.10.

Royal Gold Stock Performance

Shares of Royal Gold stock opened at $264.85 on Friday. Royal Gold, Inc. has a 52 week low of $168.88 and a 52 week high of $306.25. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $219.27 and a 200-day moving average price of $235.81. The company has a market cap of $22.44 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 1.94 and a beta of 0.50.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.01. The business had revenue of $468.98 million during the quarter, compared to the consensus estimate of $458.85 million. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.Royal Gold’s revenue was up 114.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.81 earnings per share. Equities analysts anticipate that Royal Gold, Inc. will post 10.26 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be paid a $0.475 dividend. The ex-dividend date is Friday, October 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. Royal Gold’s dividend payout ratio is presently 20.74%.

About Royal Gold

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.