American International Group Inc. lowered its position in shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) by 3.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,980 shares of the basic materials company’s stock after selling 4,508 shares during the quarter. American International Group Inc. owned about 0.20% of Royal Gold worth $11,247,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New Mexico Educational Retirement Board acquired a new stake in shares of Royal Gold during the 4th quarter worth approximately $1,330,000. KBC Group NV raised its position in shares of Royal Gold by 21.4% during the 4th quarter. KBC Group NV now owns 114,726 shares of the basic materials company’s stock worth $9,421,000 after purchasing an additional 20,246 shares during the period. Stansberry Asset Management LLC acquired a new stake in shares of Royal Gold during the 4th quarter worth approximately $1,253,000. HAP Trading LLC acquired a new stake in shares of Royal Gold during the 4th quarter worth approximately $1,016,000. Finally, Raymond James & Associates raised its position in shares of Royal Gold by 88.6% during the 4th quarter. Raymond James & Associates now owns 68,228 shares of the basic materials company’s stock worth $5,603,000 after purchasing an additional 32,054 shares during the period. Hedge funds and other institutional investors own 77.59% of the company’s stock.
RGLD opened at $88.58 on Friday. Royal Gold has a 12 month low of $74.35 and a 12 month high of $94.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.20 and a current ratio of 3.49. The company has a market capitalization of $5.78 billion, a P/E ratio of 57.15, a price-to-earnings-growth ratio of 5.01 and a beta of 0.65.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Thursday, May 3rd. The basic materials company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.43 by $0.05. Royal Gold had a positive return on equity of 4.73% and a negative net margin of 26.51%. The firm had revenue of $116.00 million for the quarter, compared to analysts’ expectations of $111.66 million. During the same period last year, the firm earned $0.36 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. research analysts expect that Royal Gold will post 1.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 20th. Investors of record on Friday, April 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Thursday, April 5th. Royal Gold’s dividend payout ratio is currently 64.52%.
A number of brokerages have recently weighed in on RGLD. ValuEngine cut Royal Gold from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub cut Royal Gold from a “hold” rating to a “sell” rating in a research report on Thursday. Raymond James increased their price target on Royal Gold from $98.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, May 4th. Scotiabank increased their price target on Royal Gold from $89.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Friday, May 4th. Finally, Canaccord Genuity set a $103.00 price target on Royal Gold and gave the stock a “buy” rating in a research report on Monday, April 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $96.46.
In other Royal Gold news, CFO Stefan Wenger sold 1,500 shares of the stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $88.16, for a total transaction of $132,240.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 4,500 shares of company stock worth $388,650. 1.12% of the stock is owned by insiders.
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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