The Manufacturers Life Insurance Company Decreases Holdings in Royal Gold, Inc. (NASDAQ:RGLD)

The Manufacturers Life Insurance Company trimmed its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,427 shares of the basic materials company’s stock after selling 994 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Royal Gold worth $6,937,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RGLD. DekaBank Deutsche Girozentrale lifted its stake in Royal Gold by 1,800.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 19,363 shares of the basic materials company’s stock valued at $2,306,000 after purchasing an additional 18,344 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Royal Gold by 151.2% during the 1st quarter. BNP Paribas Financial Markets now owns 24,941 shares of the basic materials company’s stock worth $3,037,000 after acquiring an additional 15,012 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Royal Gold by 36.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 55,368 shares of the basic materials company’s stock valued at $6,746,000 after acquiring an additional 14,675 shares during the period. Norden Group LLC purchased a new stake in Royal Gold during the first quarter valued at about $3,315,000. Finally, Tidal Investments LLC boosted its position in Royal Gold by 165.0% during the first quarter. Tidal Investments LLC now owns 10,626 shares of the basic materials company’s stock worth $1,294,000 after purchasing an additional 6,616 shares during the period. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Royal Gold Price Performance

RGLD stock opened at $138.97 on Friday. The firm has a 50 day simple moving average of $138.08 and a two-hundred day simple moving average of $130.21. The stock has a market cap of $9.14 billion, a PE ratio of 40.99, a P/E/G ratio of 1.20 and a beta of 0.90. Royal Gold, Inc. has a one year low of $100.55 and a one year high of $147.65.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, August 7th. The basic materials company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Royal Gold had a return on equity of 8.74% and a net margin of 39.15%. The business had revenue of $174.10 million for the quarter, compared to analysts’ expectations of $172.12 million. During the same quarter in the prior year, the firm earned $0.88 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis. On average, research analysts expect that Royal Gold, Inc. will post 4.85 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, October 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.15%. Royal Gold’s dividend payout ratio is 47.20%.

Insider Buying and Selling

In other Royal Gold news, SVP Daniel Breeze sold 840 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 16,842 shares in the company, valued at $2,415,648.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Royal Gold news, SVP Daniel Breeze sold 840 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 16,842 shares in the company, valued at $2,415,648.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Randy Shefman sold 4,600 shares of Royal Gold stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $140.31, for a total value of $645,426.00. Following the completion of 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,355 shares of company stock worth $1,170,315 in the last quarter. 0.52% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RGLD has been the topic of several research reports. Jefferies Financial Group boosted their price target on shares of Royal Gold from $141.00 to $154.00 and gave the company a “hold” rating in a research report on Friday. Scotiabank boosted their target price on shares of Royal Gold from $148.00 to $157.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. Raymond James raised their price target on Royal Gold from $167.00 to $170.00 and gave the stock an “outperformer” rating in a report on Friday, August 9th. Bank of America boosted their price objective on Royal Gold from $129.00 to $131.00 and gave the company an “underperform” rating in a research note on Wednesday, June 26th. Finally, StockNews.com raised Royal Gold from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $158.86.

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.