Royal Gold, Inc. $RGLD Stake Reduced by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. reduced its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 71.1% during the third quarter, Holdings Channel reports. The firm owned 2,760 shares of the basic materials company’s stock after selling 6,784 shares during the period. Harbor Capital Advisors Inc.’s holdings in Royal Gold were worth $554,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RGLD. Ilex Capital Partners UK LLP acquired a new stake in shares of Royal Gold during the second quarter valued at approximately $1,397,000. Neuberger Berman Group LLC increased its stake in shares of Royal Gold by 1,124.0% in the second quarter. Neuberger Berman Group LLC now owns 109,863 shares of the basic materials company’s stock worth $19,512,000 after acquiring an additional 100,887 shares during the last quarter. Swedbank AB increased its stake in shares of Royal Gold by 75.1% in the first quarter. Swedbank AB now owns 207,155 shares of the basic materials company’s stock worth $33,872,000 after acquiring an additional 88,828 shares during the last quarter. Autumn Glory Partners LLC acquired a new stake in Royal Gold during the second quarter valued at $587,000. Finally, AQR Capital Management LLC grew its stake in Royal Gold by 8.2% in the second quarter. AQR Capital Management LLC now owns 1,820,435 shares of the basic materials company’s stock valued at $319,140,000 after purchasing an additional 137,524 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on RGLD. BMO Capital Markets set a $240.00 price objective on Royal Gold and gave the stock an “outperform” rating in a report on Tuesday, October 21st. TD Cowen upped their price target on Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Zacks Research cut Royal Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Jefferies Financial Group reiterated a “buy” rating and set a $270.00 price target on shares of Royal Gold in a research note on Sunday, December 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Royal Gold in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Royal Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.60.

Royal Gold Stock Up 0.1%

NASDAQ RGLD opened at $233.32 on Monday. The stock’s 50 day simple moving average is $197.22 and its 200 day simple moving average is $184.61. Royal Gold, Inc. has a one year low of $130.67 and a one year high of $235.52. The firm has a market cap of $19.69 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 0.89 and a beta of 0.48. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.89 and a quick ratio of 2.68.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.24). Royal Gold had a return on equity of 14.14% and a net margin of 55.99%.The business had revenue of $250.23 million during the quarter, compared to analyst estimates of $275.11 million. During the same period in the prior year, the firm posted $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 forecast that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Increases Dividend

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

Royal Gold Company Profile

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.