Thrivent Financial for Lutherans Trims Stock Position in Royal Gold, Inc. $RGLD

Thrivent Financial for Lutherans lessened its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 42.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,024 shares of the basic materials company’s stock after selling 18,601 shares during the period. Thrivent Financial for Lutherans’ holdings in Royal Gold were worth $5,020,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Royal Gold during the 2nd quarter valued at $68,029,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Royal Gold by 1,090.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 319,454 shares of the basic materials company’s stock valued at $56,811,000 after buying an additional 292,611 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Royal Gold by 52.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 833,181 shares of the basic materials company’s stock worth $148,173,000 after buying an additional 286,268 shares in the last quarter. Nomura Holdings Inc. bought a new position in Royal Gold in the 2nd quarter worth about $45,184,000. Finally, Invesco Ltd. raised its holdings in shares of Royal Gold by 19.5% in the 2nd quarter. Invesco Ltd. now owns 928,332 shares of the basic materials company’s stock valued at $165,095,000 after acquiring an additional 151,492 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Royal Gold Trading Up 4.8%

RGLD stock opened at $265.77 on Friday. The company has a market capitalization of $22.43 billion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 0.70 and a beta of 0.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.68 and a current ratio of 2.89. Royal Gold, Inc. has a one year low of $142.95 and a one year high of $306.25. The company’s 50 day moving average price is $241.62 and its two-hundred day moving average price is $202.58.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, November 5th. The basic materials company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.24). The business had revenue of $250.23 million for the quarter, compared to the consensus estimate of $275.11 million. Royal Gold had a net margin of 55.99% and a return on equity of 14.14%. Royal Gold’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.47 EPS. As a group, 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 announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a $0.475 dividend. This is a boost from Royal Gold’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.7%. Royal Gold’s dividend payout ratio is presently 26.10%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RGLD shares. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Gold in a report on Thursday, January 22nd. Raymond James Financial set a $264.00 price target on shares of Royal Gold in a research note on Thursday, November 6th. Zacks Research raised shares of Royal Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. BMO Capital Markets set a $240.00 price objective on shares of Royal Gold and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, TD Cowen upped their target price on shares of Royal Gold from $261.00 to $263.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $251.50.

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.