Geode Capital Management LLC Has $106.35 Million Stock Position in Royal Gold, Inc. (NASDAQ:RGLD)

Posted by Defense World Staff on Jun 9th, 2023

Geode Capital Management LLC decreased its position in shares of Royal Gold, Inc. (NASDAQ:RGLD – Get Rating) (TSE:RGL) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 943,467 shares of the basic materials company’s stock after selling 121,652 shares during the period. Geode Capital Management LLC owned 1.44% of Royal Gold worth $106,347,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of RGLD. Spears Abacus Advisors LLC acquired a new stake in shares of Royal Gold in the fourth quarter worth about $456,000. American Century Companies Inc. lifted its position in shares of Royal Gold by 1.2% in the fourth quarter. American Century Companies Inc. now owns 170,229 shares of the basic materials company’s stock worth $19,188,000 after buying an additional 1,954 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Royal Gold by 13.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,531 shares of the basic materials company’s stock worth $3,329,000 after buying an additional 3,506 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Royal Gold in the fourth quarter worth about $274,000. Finally, Atria Wealth Solutions Inc. increased its stake in shares of Royal Gold by 41.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 6,248 shares of the basic materials company’s stock worth $704,000 after purchasing an additional 1,833 shares during the period. Institutional investors and hedge funds own 78.13% of the company’s stock.

Insider Transactions at Royal Gold

In other news, COO Mark Isto sold 9,660 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $141.89, for a total value of $1,370,657.40. Following the transaction, the chief operating officer now directly owns 30,437 shares of the company’s stock, valued at approximately $4,318,705.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director William M. Hayes sold 2,140 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $142.50, for a total value of $304,950.00. Following the transaction, the director now directly owns 9,832 shares of the company’s stock, valued at approximately $1,401,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mark Isto sold 9,660 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $141.89, for a total value of $1,370,657.40. Following the completion of the transaction, the chief operating officer now directly owns 30,437 shares in the company, valued at $4,318,705.93. The disclosure for this sale can be found here. Insiders have sold 13,895 shares of company stock valued at $1,972,930 in the last three months. 0.40% of the stock is owned by corporate insiders.

Royal Gold Trading Up 0.2 %

RGLD stock opened at $120.83 on Friday. Royal Gold, Inc. has a 1-year low of $84.54 and a 1-year high of $147.82. The firm has a market cap of $7.93 billion, a P/E ratio of 33.47, a P/E/G ratio of 3.08 and a beta of 0.66. The business’s 50 day moving average is $132.74 and its 200-day moving average is $123.79. The company has a current ratio of 3.44, a quick ratio of 3.23 and a debt-to-equity ratio of 0.18.

Royal Gold (NASDAQ:RGLD – Get Rating) (TSE:RGL) last released its quarterly earnings data on Wednesday, May 3rd. The basic materials company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.02. Royal Gold had a return on equity of 8.18% and a net margin of 38.80%. The company had revenue of $170.40 million for the quarter, compared to analyst estimates of $162.77 million. During the same period in the prior year, the company posted $0.99 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. Equities analysts anticipate that Royal Gold, Inc. will post 3.92 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 21st. Stockholders of record on Friday, July 7th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.50 annualized dividend and a dividend yield of 1.24%. Royal Gold’s dividend payout ratio is currently 41.55%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. StockNews.com assumed coverage on Royal Gold in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Raymond James dropped their price objective on Royal Gold from $153.00 to $148.00 and set an “outperform” rating on the stock in a research note on Friday, April 21st. National Bank Financial lifted their price objective on Royal Gold from C$155.00 to C$165.00 in a research note on Tuesday, April 18th. Barclays boosted their price target on Royal Gold from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Friday, April 21st. Finally, National Bankshares lowered their price target on Royal Gold from $165.00 to $160.00 and set a “sector perform” rating on the stock in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Royal Gold has a consensus rating of “Hold” and an average target price of $140.33.

Royal Gold Profile

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Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.