Horizon Investments LLC Reduces Position in Royal Gold, Inc. $RGLD

Horizon Investments LLC lessened its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 82.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,349 shares of the basic materials company’s stock after selling 6,467 shares during the period. Horizon Investments LLC’s holdings in Royal Gold were worth $299,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Royal Gold in the third quarter valued at approximately $29,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Royal Gold in the fourth quarter valued at approximately $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Royal Gold in the fourth quarter valued at approximately $30,000. Bank & Trust Co boosted its holdings in shares of Royal Gold by 600.0% in the fourth quarter. Bank & Trust Co now owns 140 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 120 shares during the period. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Royal Gold by 8,400.0% in the third quarter. Sunbelt Securities Inc. now owns 170 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 168 shares during the period. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Wall Street Analysts Forecast Growth

RGLD has been the subject of a number of research reports. UBS Group set a $325.00 price target on Royal Gold and gave the company a “buy” rating in a report on Wednesday, April 15th. Zacks Research lowered Royal Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Gold in a report on Tuesday, April 21st. Scotiabank lowered Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 price target for the company. in a report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating and issued a $330.00 price target on shares of Royal Gold in a report on Wednesday, February 4th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $273.64.

Insider Buying and Selling

In related news, Director Mark Isto sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $274.83, for a total value of $549,660.00. Following the completion of the transaction, the director owned 20,043 shares of the company’s stock, valued at $5,508,417.69. The trade was a 9.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William M. Hayes sold 4,173 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $277.07, for a total transaction of $1,156,213.11. Following the completion of the transaction, the director directly owned 6,129 shares of the company’s stock, valued at $1,698,162.03. This trade represents a 40.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,573 shares of company stock valued at $2,127,091 over the last 90 days. Corporate insiders own 0.35% of the company’s stock.

Royal Gold Stock Performance

Shares of NASDAQ:RGLD opened at $238.78 on Friday. The company has a market capitalization of $20.26 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 1.88 and a beta of 0.43. Royal Gold, Inc. has a 52 week low of $150.75 and a 52 week high of $306.25. The company has a quick ratio of 2.91, a current ratio of 3.52 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $257.38 and a 200 day moving average of $238.48.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.76). The business had revenue of $310.83 million during the quarter, compared to the consensus estimate of $425.47 million. Royal Gold had a return on equity of 12.63% and a net margin of 48.59%.The business’s quarterly revenue was up 85.2% on a year-over-year basis. During the same period last year, the firm earned $1.63 EPS. On average, sell-side analysts predict that Royal Gold, Inc. will post 11.65 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Thursday, April 2nd were paid a $0.475 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.8%. Royal Gold’s payout ratio is 22.65%.

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.