Bessemer Group Inc. Sells 4,693 Shares of Royal Gold, Inc. $RGLD

Bessemer Group Inc. decreased its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 67.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,236 shares of the basic materials company’s stock after selling 4,693 shares during the quarter. Bessemer Group Inc.’s holdings in Royal Gold were worth $398,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in RGLD. DAVENPORT & Co LLC purchased a new position in Royal Gold during the first quarter valued at approximately $204,000. Principal Financial Group Inc. lifted its holdings in Royal Gold by 0.4% during the first quarter. Principal Financial Group Inc. now owns 151,323 shares of the basic materials company’s stock valued at $24,743,000 after purchasing an additional 601 shares in the last quarter. D.A. Davidson & CO. purchased a new position in Royal Gold during the first quarter valued at approximately $509,000. HM Payson & Co. lifted its holdings in Royal Gold by 4,545.5% during the first quarter. HM Payson & Co. now owns 511 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 500 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Royal Gold by 128.0% during the first quarter. Envestnet Asset Management Inc. now owns 15,075 shares of the basic materials company’s stock valued at $2,465,000 after purchasing an additional 8,462 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Wall Street Analysts Forecast Growth

RGLD has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Royal Gold from a “buy” rating to a “hold” rating in a report on Saturday. TD Securities reissued a “buy” rating and issued a $237.00 target price (up previously from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Raymond James Financial set a $257.00 target price on shares of Royal Gold and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Bank of America boosted their target price on shares of Royal Gold from $193.00 to $203.00 and gave the stock an “underperform” rating in a report on Thursday, October 16th. Finally, Scotiabank reissued an “outperform” rating on shares of Royal Gold in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $220.44.

Royal Gold Stock Down 1.7%

RGLD stock opened at $174.79 on Monday. Royal Gold, Inc. has a twelve month low of $130.67 and a twelve month high of $209.42. The stock has a market capitalization of $11.51 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 0.96 and a beta of 0.41. The firm’s fifty day simple moving average is $189.13 and its two-hundred day simple moving average is $178.36.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.11. The firm had revenue of $209.64 million during the quarter, compared to analyst estimates of $186.63 million. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 earnings per share. As a group, equities research analysts expect that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Royal Gold’s dividend payout ratio is 26.39%.

Royal Gold 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.