Bank of New York Mellon Corp Sells 15,497 Shares of Royal Gold, Inc. $RGLD

Bank of New York Mellon Corp trimmed its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 2.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 625,833 shares of the basic materials company’s stock after selling 15,497 shares during the quarter. Bank of New York Mellon Corp’s holdings in Royal Gold were worth $111,298,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RGLD. WPG Advisers LLC bought a new position in shares of Royal Gold in the first quarter worth $27,000. Cullen Frost Bankers Inc. grew its stake in Royal Gold by 548.1% during the second quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company’s stock worth $31,000 after buying an additional 148 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Royal Gold during the first quarter worth about $34,000. Blue Trust Inc. increased its holdings in Royal Gold by 56.8% in the 2nd quarter. Blue Trust Inc. now owns 196 shares of the basic materials company’s stock valued at $35,000 after buying an additional 71 shares during the period. Finally, Bayforest Capital Ltd raised its position in shares of Royal Gold by 256.5% in the 1st quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company’s stock valued at $40,000 after buying an additional 177 shares in the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of Royal Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. CIBC boosted their price objective on shares of Royal Gold from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Raymond James Financial set a $264.00 target price on Royal Gold in a report on Thursday. TD Securities reiterated a “buy” rating and issued a $237.00 price target (up previously from $229.00) on shares of Royal Gold in a research note on Friday, August 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Royal Gold in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $221.22.

Royal Gold Price Performance

Shares of NASDAQ:RGLD opened at $175.82 on Friday. Royal Gold, Inc. has a one year low of $130.67 and a one year high of $209.42. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 0.96 and a beta of 0.39. The firm has a 50 day simple moving average of $188.68 and a 200 day simple moving average of $178.01.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.24). Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.The company had revenue of $250.23 million for the quarter, compared to analyst estimates of $275.11 million. During the same quarter last year, the company posted $1.47 earnings per share. The firm’s quarterly revenue was up 30.1% on a year-over-year basis. As a group, analysts expect that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, October 3rd. Royal Gold’s dividend payout ratio is presently 24.73%.

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.