Gabelli Funds LLC Trims Stock Position in Royal Gold, Inc. $RGLD

Gabelli Funds LLC cut its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 5.4% during the 1st quarter, Holdings Channel reports. The firm owned 211,940 shares of the basic materials company’s stock after selling 12,200 shares during the period. Gabelli Funds LLC’s holdings in Royal Gold were worth $53,937,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Elyxium Wealth LLC acquired a new position in shares of Royal Gold during the 4th quarter worth approximately $27,000. Gen Wealth Partners Inc acquired a new stake in Royal Gold during the 4th quarter valued at $27,000. Trust Co. of Toledo NA OH acquired a new stake in Royal Gold during the 4th quarter valued at $30,000. V Square Quantitative Management LLC purchased a new position in Royal Gold during the fourth quarter worth $30,000. Finally, Bank & Trust Co increased its position in Royal Gold by 600.0% during the fourth quarter. Bank & Trust Co now owns 140 shares of the basic materials company’s stock worth $31,000 after buying an additional 120 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total value of $107,925.00. Following the transaction, the senior vice president owned 8,582 shares in the company, valued at approximately $1,852,424.70. This trade represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.35% of the company’s stock.

Royal Gold Stock Performance

Royal Gold stock opened at $200.96 on Friday. The stock’s 50-day moving average is $207.65 and its 200-day moving average is $242.75. The company has a market cap of $17.06 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 1.37 and a beta of 0.44. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.52 and a quick ratio of 3.26. Royal Gold, Inc. has a 12 month low of $150.75 and a 12 month high of $306.25.

Royal Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, July 2nd. Royal Gold’s dividend payout ratio is 22.65%.

Analysts Set New Price Targets

RGLD has been the subject of a number of analyst reports. Royal Bank Of Canada cut their price target on Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Weiss Ratings cut Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Jefferies Financial Group dropped their price objective on Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Zacks Research raised shares of Royal Gold from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Finally, Scotiabank restated a “sector perform” rating and issued a $310.00 target price on shares of Royal Gold in a report on Tuesday, July 14th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $280.27.

Royal Gold Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.