Horizon Kinetics Asset Management LLC Sells 1,575 Shares of Royal Gold, Inc. (NASDAQ:RGLD)

Horizon Kinetics Asset Management LLC cut its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,792 shares of the basic materials company’s stock after selling 1,575 shares during the period. Horizon Kinetics Asset Management LLC owned approximately 0.11% of Royal Gold worth $9,861,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Royal Gold by 2.6% during the third quarter. Geode Capital Management LLC now owns 1,321,555 shares of the basic materials company’s stock valued at $185,454,000 after buying an additional 33,151 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Royal Gold by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 484,207 shares of the basic materials company’s stock valued at $63,843,000 after buying an additional 5,067 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Royal Gold by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 194,326 shares of the basic materials company’s stock valued at $27,264,000 after purchasing an additional 1,636 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Royal Gold by 1.9% in the 4th quarter. Rhumbline Advisers now owns 179,029 shares of the basic materials company’s stock valued at $23,605,000 after purchasing an additional 3,286 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Royal Gold by 35.3% in the 3rd quarter. FMR LLC now owns 178,719 shares of the basic materials company’s stock valued at $25,074,000 after purchasing an additional 46,615 shares during the last quarter. 83.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group raised Royal Gold from a “hold” rating to a “buy” rating and raised their price objective for the company from $154.00 to $178.00 in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Royal Gold currently has a consensus rating of “Hold” and a consensus price target of $168.86.

Royal Gold Stock Performance

Shares of RGLD stock opened at $154.20 on Monday. Royal Gold, Inc. has a 52-week low of $107.33 and a 52-week high of $157.67. The firm has a market capitalization of $10.14 billion, a P/E ratio of 30.60, a P/E/G ratio of 3.42 and a beta of 0.84. The stock has a 50 day moving average price of $144.26 and a 200 day moving average price of $143.35.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. Royal Gold had a return on equity of 11.46% and a net margin of 46.15%. As a group, sell-side analysts forecast that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, April 4th. This represents a $1.80 annualized dividend and a yield of 1.17%. Royal Gold’s payout ratio is currently 35.71%.

Royal Gold Profile

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.