State of Alaska Department of Revenue reduced its stake in Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 18.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 34,404 shares of the basic materials company’s stock after selling 7,892 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.05% of Royal Gold worth $3,525,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of RGLD. Cordasco Financial Network lifted its holdings in shares of Royal Gold by 72.4% during the first quarter. Cordasco Financial Network now owns 293 shares of the basic materials company’s stock worth $27,000 after buying an additional 123 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Royal Gold by 375.0% during the second quarter. CENTRAL TRUST Co now owns 475 shares of the basic materials company’s stock worth $51,000 after buying an additional 375 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Royal Gold by 762.8% during the first quarter. Quadrant Capital Group LLC now owns 811 shares of the basic materials company’s stock worth $71,000 after buying an additional 717 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Royal Gold by 18.6% during the first quarter. Versant Capital Management Inc now owns 848 shares of the basic materials company’s stock worth $77,000 after buying an additional 133 shares during the last quarter. Finally, James Investment Research Inc. acquired a new position in shares of Royal Gold during the first quarter worth approximately $96,000. Hedge funds and other institutional investors own 79.09% of the company’s stock.
NASDAQ:RGLD traded down $1.71 during trading hours on Friday, reaching $116.94. The company had a trading volume of 19,510 shares, compared to its average volume of 437,689. The business has a 50-day simple moving average of $107.27. Royal Gold, Inc has a one year low of $70.16 and a one year high of $121.06. The firm has a market cap of $7.83 billion, a price-to-earnings ratio of 66.39, a PEG ratio of 5.32 and a beta of 0.21. The company has a quick ratio of 5.13, a current ratio of 5.39 and a debt-to-equity ratio of 0.17.
The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Wednesday, July 3rd. Royal Gold’s dividend payout ratio (DPR) is 60.23%.
A number of brokerages have recently commented on RGLD. CIBC lowered Royal Gold from a “sector outperform” rating to a “neutral” rating in a report on Thursday. Barclays lowered Royal Gold from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $88.00 to $105.00 in a research note on Tuesday, July 16th. TheStreet upgraded Royal Gold from a “c+” rating to a “b-” rating in a research note on Friday, June 7th. BidaskClub upgraded Royal Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, ValuEngine upgraded Royal Gold from a “hold” rating to a “buy” rating in a research note on Monday, June 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $102.83.
In other news, Director Ronald J. Vance sold 1,930 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $94.77, for a total transaction of $182,906.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Bruce Christopher Kirchhoff sold 9,471 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $93.18, for a total value of $882,507.78. Following the sale, the vice president now owns 50,348 shares in the company, valued at approximately $4,691,426.64. The disclosure for this sale can be found here. Insiders sold 87,423 shares of company stock worth $8,138,746 over the last quarter. Company insiders own 0.95% of the company’s stock.
Royal Gold Profile
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related 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, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.
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