Canoe Financial LP Cuts Position in Royal Gold, Inc. $RGLD

Canoe Financial LP reduced its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 21.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,241 shares of the basic materials company’s stock after selling 3,423 shares during the period. Canoe Financial LP’s holdings in Royal Gold were worth $2,455,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RGLD. WPG Advisers LLC purchased a new position in Royal Gold in the first quarter valued at approximately $27,000. Cullen Frost Bankers Inc. increased its position in shares of Royal Gold by 548.1% in the second quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 148 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Royal Gold by 56.8% in the 2nd quarter. Blue Trust Inc. now owns 196 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 71 shares during the period. Caldwell Trust Co purchased a new position in shares of Royal Gold in the 2nd quarter valued at $36,000. Finally, Bayforest Capital Ltd lifted its holdings in shares of Royal Gold by 256.5% during the 1st quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 177 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RGLD shares. Bank of America increased their price target on Royal Gold from $193.00 to $203.00 and gave the company an “underperform” rating in a report on Thursday, October 16th. BMO Capital Markets set a $240.00 target price on Royal Gold and gave the company an “outperform” rating in a research note on Tuesday, October 21st. TD Cowen boosted their price target on Royal Gold from $261.00 to $263.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Gold in a report on Wednesday, October 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $270.00 price objective on shares of Royal Gold in a research report on Sunday, December 7th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $234.60.

Royal Gold Trading Down 0.3%

NASDAQ:RGLD opened at $232.64 on Friday. The stock has a market cap of $19.63 billion, a price-to-earnings ratio of 31.96, a price-to-earnings-growth ratio of 0.89 and a beta of 0.48. Royal Gold, Inc. has a one year low of $130.67 and a one year high of $234.38. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.68 and a current ratio of 2.89. The business’s 50-day simple moving average is $196.43 and its 200 day simple moving average is $184.07.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.24). Royal Gold had a net margin of 55.99% and a return on equity of 14.14%. The business had revenue of $250.23 million for the quarter, compared to analyst estimates of $275.11 million. During the same quarter last year, the business earned $1.47 EPS. Royal Gold’s revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, sell-side analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Royal Gold’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, January 2nd. Royal Gold’s payout ratio is presently 24.73%.

About Royal Gold

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.