Royal Gold, Inc. (NASDAQ:RGLD) Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC decreased its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 14.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 76,367 shares of the basic materials company’s stock after selling 12,621 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Royal Gold were worth $10,714,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of Royal Gold by 1.1% during the third quarter. Van ECK Associates Corp now owns 3,637,739 shares of the basic materials company’s stock worth $553,810,000 after acquiring an additional 39,394 shares during the period. First Eagle Investment Management LLC increased its holdings in Royal Gold by 0.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 3,584,967 shares of the basic materials company’s stock worth $448,694,000 after purchasing an additional 20,508 shares during the period. Bank of New York Mellon Corp raised its position in Royal Gold by 34.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 834,986 shares of the basic materials company’s stock valued at $104,507,000 after purchasing an additional 212,316 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Royal Gold by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 806,872 shares of the basic materials company’s stock valued at $100,991,000 after buying an additional 156,048 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Royal Gold by 224.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 609,760 shares of the basic materials company’s stock worth $74,276,000 after buying an additional 422,026 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Randy Shefman sold 4,600 shares of Royal Gold stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $140.31, for a total value of $645,426.00. Following the transaction, the senior vice president now directly owns 7,430 shares in the company, valued at $1,042,503.30. This trade represents a 38.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Paul Libner sold 1,500 shares of Royal Gold stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $142.53, for a total transaction of $213,795.00. Following the completion of the sale, the chief financial officer now directly owns 18,657 shares in the company, valued at approximately $2,659,182.21. The trade was a 7.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,924 shares of company stock valued at $1,271,449. Insiders own 0.52% of the company’s stock.

Royal Gold Stock Performance

Royal Gold stock opened at $148.99 on Monday. The company has a market capitalization of $9.80 billion, a P/E ratio of 34.17, a PEG ratio of 1.19 and a beta of 0.90. Royal Gold, Inc. has a fifty-two week low of $100.55 and a fifty-two week high of $155.10. The stock has a 50-day simple moving average of $145.01 and a 200-day simple moving average of $136.60.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.13. The company had revenue of $193.84 million during the quarter, compared to analysts’ expectations of $184.12 million. Royal Gold had a return on equity of 10.18% and a net margin of 42.93%. The firm’s revenue for the quarter was up 39.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 earnings per share. As a group, analysts forecast that Royal Gold, Inc. will post 5.13 earnings per share for the current year.

Royal Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 1.21%. This is a boost from Royal Gold’s previous quarterly dividend of $0.40. Royal Gold’s dividend payout ratio is currently 36.70%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Raymond James lifted their price target on shares of Royal Gold from $184.00 to $186.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. TD Securities increased their target price on Royal Gold from $181.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group lifted their price target on Royal Gold from $141.00 to $154.00 and gave the stock a “hold” rating in a report on Friday, October 4th. StockNews.com upgraded Royal Gold from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Finally, Scotiabank raised their target price on Royal Gold from $148.00 to $157.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $165.43.

About Royal Gold

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.