Royal Gold, Inc. (NASDAQ:RGLD) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc decreased its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 17.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,800 shares of the basic materials company’s stock after selling 2,730 shares during the quarter. CIBC Asset Management Inc’s holdings in Royal Gold were worth $1,796,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Compagnie Lombard Odier SCmA acquired a new stake in shares of Royal Gold in the third quarter valued at about $49,000. Blue Trust Inc. lifted its position in shares of Royal Gold by 108.7% during the 3rd quarter. Blue Trust Inc. now owns 409 shares of the basic materials company’s stock valued at $57,000 after acquiring an additional 213 shares during the period. Mather Group LLC. acquired a new stake in shares of Royal Gold during the 2nd quarter valued at approximately $62,000. 1832 Asset Management L.P. purchased a new stake in shares of Royal Gold during the 2nd quarter worth approximately $65,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Royal Gold in the 2nd quarter worth approximately $75,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Royal Gold Price Performance

Shares of NASDAQ RGLD opened at $147.89 on Wednesday. The company has a market cap of $9.72 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 1.12 and a beta of 0.90. The company has a 50-day simple moving average of $144.50 and a 200-day simple moving average of $136.07. Royal Gold, Inc. has a 12 month low of $100.55 and a 12 month high of $155.10.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued 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 return on equity of 10.18% and a net margin of 42.93%. The company had revenue of $193.84 million during the quarter, compared to the consensus estimate of $184.12 million. During the same period in the previous year, the firm posted $0.76 EPS. Royal Gold’s revenue was up 39.8% on a year-over-year basis. On average, analysts anticipate that Royal Gold, Inc. will post 5.13 EPS for the current year.

Royal Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given a dividend of $0.45 per share. This is an increase from Royal Gold’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.22%. Royal Gold’s dividend payout ratio is 36.70%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, Director William M. Hayes sold 1,984 shares of the company’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 transaction, the director now owns 9,268 shares of the company’s stock, valued at approximately $1,362,859.40. This represents a 17.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Daniel Breeze sold 840 shares of Royal Gold stock in a transaction on Friday, September 13th. The shares were sold at an average price of $143.43, for a total transaction of $120,481.20. Following the completion of the transaction, the senior vice president now owns 16,842 shares in the company, valued at approximately $2,415,648.06. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,924 shares of company stock valued at $1,271,449. Insiders own 0.52% of the company’s stock.

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.