Massachusetts Financial Services Co. MA Cuts Position in Royal Gold, Inc. (NASDAQ:RGLD)

Massachusetts Financial Services Co. MA cut its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 2.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,003 shares of the basic materials company’s stock after selling 111 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Royal Gold were worth $702,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of RGLD. Advisors Asset Management Inc. purchased a new position in Royal Gold in the 3rd quarter valued at $38,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Royal Gold during the 3rd quarter worth approximately $49,000. Blue Trust Inc. lifted its holdings in Royal Gold by 108.7% in the third quarter. Blue Trust Inc. now owns 409 shares of the basic materials company’s stock valued at $57,000 after acquiring an additional 213 shares during the last quarter. Mather Group LLC. purchased a new position in Royal Gold in the second quarter worth approximately $62,000. Finally, Quest Partners LLC acquired a new stake in Royal Gold during the third quarter worth $62,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Insider Buying and Selling at Royal Gold

In related news, SVP Daniel Breeze sold 840 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $143.43, for a total transaction of $120,481.20. Following the completion of the transaction, the senior vice president now owns 16,842 shares in the company, valued at approximately $2,415,648.06. The trade was a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William M. Hayes sold 1,984 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $147.05, for a total value of $291,747.20. Following the completion of the sale, the director now owns 9,268 shares in the company, valued at approximately $1,362,859.40. This represents a 17.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Royal Gold Stock Down 0.4 %

Shares of RGLD opened at $145.67 on Thursday. The company has a market cap of $9.58 billion, a P/E ratio of 33.41, a PEG ratio of 1.16 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 firm’s 50 day moving average price is $145.21 and its 200 day moving average price is $136.87.

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

Royal Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.45 per share. This is an increase from Royal Gold’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, January 3rd. This represents a $1.80 annualized dividend and a yield of 1.24%. Royal Gold’s dividend payout ratio is 36.70%.

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.