Kestra Investment Management LLC Sells 4,196 Shares of Royal Gold, Inc. $RGLD

Kestra Investment Management LLC cut its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 70.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,788 shares of the basic materials company’s stock after selling 4,196 shares during the quarter. Kestra Investment Management LLC’s holdings in Royal Gold were worth $422,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Royal Gold in the second quarter worth about $1,144,000. Clear Harbor Asset Management LLC bought a new stake in Royal Gold during the 2nd quarter valued at approximately $1,083,000. L2 Asset Management LLC bought a new stake in Royal Gold during the 2nd quarter valued at approximately $1,147,000. Bank of America Corp DE bought a new stake in Royal Gold during the 2nd quarter valued at approximately $88,124,000. Finally, Allworth Financial LP lifted its holdings in Royal Gold by 94.9% in the 2nd quarter. Allworth Financial LP now owns 10,449 shares of the basic materials company’s stock worth $2,086,000 after purchasing an additional 5,088 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president directly owned 8,082 shares of the company’s stock, valued at approximately $2,123,949.60. This trade represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RGLD. Canadian Imperial Bank of Commerce set a $305.00 price target on Royal Gold in a research note on Friday, October 16th. Raymond James Financial set a $337.00 price objective on shares of Royal Gold in a report on Friday, November 6th. Weiss Ratings upgraded shares of Royal Gold from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday. TD reduced their price objective on shares of Royal Gold from $315.00 to $311.00 and set a “buy” rating on the stock in a research report on Tuesday, October 20th. Finally, Royal Bank Of Canada boosted their target price on shares of Royal Gold from $305.00 to $325.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $309.67.

Royal Gold Price Performance

NASDAQ:RGLD opened at $268.84 on Thursday. The business’s 50-day moving average is $245.32 and its 200 day moving average is $240.99. Royal Gold, Inc. has a 12 month low of $181.01 and a 12 month high of $306.25. The company has a market capitalization of $22.73 billion, a P/E ratio of 27.10, a P/E/G ratio of 1.98 and a beta of 0.46. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.02.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, November 4th. The basic materials company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.03. Royal Gold had a return on equity of 11.67% and a net margin of 47.69%. The business had revenue of $464.77 million during the quarter, compared to analysts’ expectations of $459.84 million. During the same quarter last year, the business posted $2.06 EPS. The firm’s revenue for the quarter was up 84.4% compared to the same quarter last year. On average, equities research analysts forecast that Royal Gold, Inc. will post 10.71 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 2nd were given a dividend of $0.4750 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, October 2nd. Royal Gold’s dividend payout ratio is currently 19.15%.

About Royal Gold

Royal Gold, Inc. is a precious metals company that finances mining operations through royalty and streaming agreements. Rather than operating mines itself, the company acquires interests that give it rights to payments or a share of future metal production from mines operated by other companies. Under a streaming agreement, Royal Gold provides financing in exchange for the right to purchase a specified portion of a mine’s future production at an agreed price. Its royalties generally entitle it to payments tied to a mine’s production or revenue.