Truist Financial Corp trimmed its holdings in Royal Gold, Inc. (NASDAQ:RGLD – Get Rating) (TSE:RGL) by 19.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 12,132 shares of the basic materials company’s stock after selling 2,907 shares during the quarter. Truist Financial Corp’s holdings in Royal Gold were worth $1,138,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. US Bancorp DE increased its position in Royal Gold by 3.2% during the first quarter. US Bancorp DE now owns 3,913 shares of the basic materials company’s stock worth $552,000 after purchasing an additional 123 shares during the last quarter. HighTower Advisors LLC increased its position in Royal Gold by 17.9% during the first quarter. HighTower Advisors LLC now owns 6,544 shares of the basic materials company’s stock worth $921,000 after purchasing an additional 993 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Royal Gold during the first quarter worth about $251,000. PNC Financial Services Group Inc. increased its position in Royal Gold by 2.4% during the first quarter. PNC Financial Services Group Inc. now owns 4,042 shares of the basic materials company’s stock worth $572,000 after purchasing an additional 96 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in Royal Gold by 9.2% during the first quarter. Great West Life Assurance Co. Can now owns 35,641 shares of the basic materials company’s stock worth $5,174,000 after purchasing an additional 2,988 shares during the last quarter. 78.13% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CFO Paul Libner sold 250 shares of Royal Gold stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $115.00, for a total value of $28,750.00. Following the completion of the transaction, the chief financial officer now owns 14,265 shares in the company, valued at $1,640,475. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is owned by insiders.
Royal Gold Trading Up 2.1 %
Royal Gold (NASDAQ:RGLD – Get Rating) (TSE:RGL) last posted its quarterly earnings data on Wednesday, November 2nd. The basic materials company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.01). Royal Gold had a net margin of 41.19% and a return on equity of 8.84%. The business had revenue of $131.43 million during the quarter. Equities research analysts anticipate that Royal Gold, Inc. will post 3.26 EPS for the current fiscal year.
Royal Gold Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 20th. Investors of record on Friday, January 6th will be paid a $0.375 dividend. The ex-dividend date is Thursday, January 5th. This represents a $1.50 dividend on an annualized basis and a yield of 1.20%. This is an increase from Royal Gold’s previous quarterly dividend of $0.35. Royal Gold’s payout ratio is currently 39.27%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on RGLD. National Bankshares raised their price objective on shares of Royal Gold from $120.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Friday, January 13th. National Bank Financial lifted their price target on shares of Royal Gold from C$120.00 to C$150.00 in a research report on Friday, January 13th. Credit Suisse Group began coverage on shares of Royal Gold in a research report on Monday, December 12th. They set a “neutral” rating and a $120.00 price target for the company. StockNews.com upgraded shares of Royal Gold from a “sell” rating to a “hold” rating in a research report on Thursday, December 1st. Finally, TD Securities lifted their price target on shares of Royal Gold from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, January 6th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.09.
Royal Gold Company Profile
Royal Gold, Inc engages in the acquisition and management of precious metal streams, royalties, and similar interests. It operates through the following segments: Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests. The Acquisition and Management of Stream Interests segment focuses on metal streams, which are purchase agreements that provide, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals produced, at a price determined for the life of the transaction.
- Get a free copy of the StockNews.com research report on Royal Gold (RGLD)
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