Horizon Kinetics Asset Management LLC Cuts Stock Holdings in Royal Gold, Inc. (NASDAQ:RGLD)

Horizon Kinetics Asset Management LLC cut its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 14.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,367 shares of the basic materials company’s stock after selling 12,621 shares during the period. Horizon Kinetics Asset Management LLC owned 0.12% of Royal Gold worth $10,714,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its position in shares of Royal Gold by 1,800.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 19,363 shares of the basic materials company’s stock valued at $2,306,000 after buying an additional 18,344 shares in the last quarter. Tidal Investments LLC increased its holdings in Royal Gold by 165.0% in the 1st quarter. Tidal Investments LLC now owns 10,626 shares of the basic materials company’s stock worth $1,294,000 after acquiring an additional 6,616 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Royal Gold by 357.7% in the 2nd quarter. Hsbc Holdings PLC now owns 51,719 shares of the basic materials company’s stock worth $6,473,000 after acquiring an additional 40,419 shares in the last quarter. BDF Gestion acquired a new position in Royal Gold during the second quarter worth $1,831,000. Finally, Sei Investments Co. lifted its holdings in Royal Gold by 75.8% during the second quarter. Sei Investments Co. now owns 65,293 shares of the basic materials company’s stock valued at $8,174,000 after purchasing an additional 28,163 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Insider Activity

In other Royal Gold news, SVP Randy Shefman sold 4,600 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $140.31, for a total transaction of $645,426.00. Following the completion of the transaction, the senior vice president now owns 7,430 shares of the company’s stock, valued at $1,042,503.30. This trade represents a 38.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William M. Hayes sold 1,984 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $147.05, for a total transaction of $291,747.20. Following the completion of the sale, the director now directly owns 9,268 shares in the company, valued at $1,362,859.40. This trade represents a 17.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,924 shares of company stock valued at $1,271,449. 0.52% of the stock is currently owned by company insiders.

Royal Gold Stock Performance

NASDAQ RGLD opened at $148.99 on Monday. The stock’s fifty day moving average is $145.01 and its two-hundred day moving average is $136.60. The firm has a market capitalization of $9.80 billion, a P/E ratio of 34.17, a price-to-earnings-growth ratio of 1.19 and a beta of 0.90. Royal Gold, Inc. has a fifty-two week low of $100.55 and a fifty-two week high of $155.10.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.13. Royal Gold had a net margin of 42.93% and a return on equity of 10.18%. The firm had revenue of $193.84 million for the quarter, compared to analysts’ expectations of $184.12 million. During the same quarter in the previous year, the company posted $0.76 EPS. The company’s revenue was up 39.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Royal Gold, Inc. will post 5.13 EPS for the current year.

Royal Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.21%. This is an increase from Royal Gold’s previous quarterly dividend of $0.40. Royal Gold’s dividend payout ratio (DPR) is currently 36.70%.

Wall Street Analysts Forecast Growth

RGLD has been the subject of a number of research reports. Raymond James boosted their target price on shares of Royal Gold from $184.00 to $186.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Jefferies Financial Group boosted their price objective on Royal Gold from $141.00 to $154.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. StockNews.com raised Royal Gold from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. TD Securities lifted their price target on Royal Gold from $181.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Scotiabank boosted their price target on Royal Gold from $148.00 to $157.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $165.43.

About Royal Gold

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.