Bank of New York Mellon Corp Has $205.76 Million Position in Royal Gold, Inc. $RGLD

Bank of New York Mellon Corp cut its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 3.1% during the 1st quarter, HoldingsChannel reports. The firm owned 808,511 shares of the basic materials company’s stock after selling 26,278 shares during the period. Bank of New York Mellon Corp’s holdings in Royal Gold were worth $205,758,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cornerstone Advisory LLC acquired a new position in Royal Gold during the 1st quarter worth approximately $305,000. Checchi Capital Advisers LLC acquired a new stake in Royal Gold in the first quarter valued at approximately $204,000. Archer Investment Corp boosted its position in Royal Gold by 1,428.1% in the first quarter. Archer Investment Corp now owns 871 shares of the basic materials company’s stock valued at $222,000 after buying an additional 814 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of Royal Gold by 1.6% during the first quarter. State of Michigan Retirement System now owns 19,448 shares of the basic materials company’s stock worth $4,949,000 after buying an additional 300 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Royal Gold by 3.8% during the first quarter. Principal Financial Group Inc. now owns 180,921 shares of the basic materials company’s stock worth $46,043,000 after buying an additional 6,668 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Royal Gold

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

Royal Gold Price Performance

Shares of NASDAQ:RGLD opened at $189.17 on Friday. The firm has a market cap of $16.05 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. The firm’s fifty day moving average is $212.07 and its 200-day moving average is $243.68. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.26 and a current ratio of 3.52. Royal Gold, Inc. has a 52 week low of $150.75 and a 52 week high of $306.25.

Royal Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 2nd. Royal Gold’s dividend payout ratio (DPR) is currently 22.65%.

Analyst Ratings Changes

A number of research analysts have recently commented on RGLD shares. Royal Bank Of Canada dropped their price target on Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Jefferies Financial Group lowered their target price on Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a report on Monday, July 6th. UBS Group dropped their target price on Royal Gold from $325.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Weiss Ratings downgraded Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Finally, Zacks Research upgraded Royal Gold from a “strong sell” rating to a “hold” rating in a report on Thursday, July 2nd. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.27.

Royal Gold 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.