Azzad Asset Management Inc. ADV Has $735,000 Stock Position in Royal Gold, Inc. $RGLD

Azzad Asset Management Inc. ADV lowered its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 68.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,890 shares of the basic materials company’s stock after selling 6,325 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Royal Gold were worth $735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RGLD. Greenleaf Trust grew its stake in shares of Royal Gold by 2.9% in the fourth quarter. Greenleaf Trust now owns 1,538 shares of the basic materials company’s stock valued at $342,000 after buying an additional 43 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in Royal Gold by 1.5% during the first quarter. Apollon Wealth Management LLC now owns 2,905 shares of the basic materials company’s stock worth $739,000 after buying an additional 44 shares during the last quarter. WPG Advisers LLC raised its position in Royal Gold by 34.1% during the fourth quarter. WPG Advisers LLC now owns 181 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 46 shares in the last quarter. Parcion Private Wealth LLC raised its position in Royal Gold by 2.9% during the fourth quarter. Parcion Private Wealth LLC now owns 1,701 shares of the basic materials company’s stock worth $378,000 after acquiring an additional 48 shares in the last quarter. Finally, Strs Ohio lifted its stake in Royal Gold by 0.6% in the first quarter. Strs Ohio now owns 8,611 shares of the basic materials company’s stock valued at $2,191,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

Insider Buying and Selling at Royal Gold

In other news, SVP Randy Shefman sold 1,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $243.74, for a total value of $243,740.00. Following the transaction, the senior vice president directly owned 9,082 shares of the company’s stock, valued at $2,213,646.68. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RGLD. Royal Bank Of Canada decreased their price objective on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a research report on Thursday. UBS Group dropped their target price on shares of Royal Gold from $325.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Zacks Research upgraded shares of Royal Gold from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Jefferies Financial Group reduced their price target on Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a report on Monday. Finally, National Bank Financial lowered their price target on Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Royal Gold has an average rating of “Moderate Buy” and a consensus price target of $282.55.

Royal Gold Stock Down 1.0%

RGLD opened at $196.83 on Friday. The stock’s fifty day simple moving average is $216.21 and its 200 day simple moving average is $245.10. Royal Gold, Inc. has a 1-year low of $150.75 and a 1-year high of $306.25. The stock has a market cap of $16.70 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 1.34 and a beta of 0.44. The company has a current ratio of 3.52, a quick ratio of 3.26 and a debt-to-equity ratio of 0.08.

Royal Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, July 2nd. Royal Gold’s payout ratio is currently 22.65%.

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.