Royal Gold, Inc. (NASDAQ:RGLD) Holdings Trimmed by Tidal Investments LLC

Tidal Investments LLC lowered its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 26.8% in the third quarter, Holdings Channel.com reports. The firm owned 4,650 shares of the basic materials company’s stock after selling 1,703 shares during the period. Tidal Investments LLC’s holdings in Royal Gold were worth $652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RGLD. Bank of New York Mellon Corp raised its stake in shares of Royal Gold by 34.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 834,986 shares of the basic materials company’s stock valued at $104,507,000 after buying an additional 212,316 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Royal Gold by 24.0% in the second quarter. Dimensional Fund Advisors LP now owns 806,872 shares of the basic materials company’s stock worth $100,991,000 after purchasing an additional 156,048 shares in the last quarter. AQR Capital Management LLC lifted its stake in Royal Gold by 38.4% during the second quarter. AQR Capital Management LLC now owns 483,493 shares of the basic materials company’s stock worth $60,514,000 after purchasing an additional 134,120 shares during the period. Driehaus Capital Management LLC acquired a new stake in Royal Gold during the second quarter valued at approximately $15,559,000. Finally, International Assets Investment Management LLC grew its stake in shares of Royal Gold by 13,968.8% in the 3rd quarter. International Assets Investment Management LLC now owns 84,694 shares of the basic materials company’s stock valued at $11,883,000 after purchasing an additional 84,092 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Insider Activity at Royal Gold

In related news, SVP Daniel Breeze sold 549 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $150.00, for a total value of $82,350.00. Following the completion of the sale, the senior vice president now owns 16,293 shares in the company, valued at approximately $2,443,950. This represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William M. Hayes sold 1,984 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $147.05, for a total value of $291,747.20. Following the transaction, the director now owns 9,268 shares in the company, valued at approximately $1,362,859.40. This trade represents a 17.63 % decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on RGLD. StockNews.com upgraded Royal Gold from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Jefferies Financial Group upped their target price on shares of Royal Gold from $141.00 to $154.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Raymond James lifted their price target on shares of Royal Gold from $184.00 to $186.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, TD Securities upped their price objective on shares of Royal Gold from $181.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Royal Gold presently has an average rating of “Hold” and a consensus price target of $165.43.

Royal Gold Stock Performance

NASDAQ:RGLD opened at $133.81 on Friday. The stock’s fifty day moving average price is $146.57 and its two-hundred day moving average price is $138.77. The company has a market cap of $8.80 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 1.08 and a beta of 0.89. Royal Gold, Inc. has a 52-week low of $100.55 and a 52-week high of $155.10.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.13. Royal Gold had a return on equity of 10.18% and a net margin of 42.93%. The firm had revenue of $193.84 million during the quarter, compared to analyst estimates of $184.12 million. During the same period last year, the company earned $0.76 earnings per share. The company’s revenue was up 39.8% on a year-over-year basis. On average, equities analysts predict that Royal Gold, Inc. will post 5.14 EPS for the current fiscal year.

Royal Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from Royal Gold’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, January 3rd. Royal Gold’s payout ratio is 41.28%.

Royal Gold Company Profile

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.