Royal Gold, Inc. $RGLD Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,894 shares of the basic materials company’s stock after selling 3,472 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.20% of Royal Gold worth $23,782,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RGLD. Farther Finance Advisors LLC increased its stake in shares of Royal Gold by 29.5% in the 1st quarter. Farther Finance Advisors LLC now owns 812 shares of the basic materials company’s stock worth $133,000 after acquiring an additional 185 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Royal Gold by 9.0% in the 1st quarter. GAMMA Investing LLC now owns 2,798 shares of the basic materials company’s stock worth $458,000 after acquiring an additional 231 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Royal Gold by 50.7% in the 1st quarter. Fifth Third Bancorp now owns 871 shares of the basic materials company’s stock worth $142,000 after acquiring an additional 293 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Royal Gold by 61.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,963 shares of the basic materials company’s stock worth $4,899,000 after acquiring an additional 11,435 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Royal Gold by 44.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,725 shares of the basic materials company’s stock worth $2,898,000 after purchasing an additional 5,496 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RGLD has been the subject of a number of research analyst reports. Wall Street Zen upgraded Royal Gold from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Zacks Research cut Royal Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Bank of America increased their price target on Royal Gold from $193.00 to $203.00 and gave the stock an “underperform” rating in a report on Thursday. TD Securities reiterated a “buy” rating and set a $237.00 price target (up from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Finally, CIBC increased their price target on Royal Gold from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $203.00.

Royal Gold Price Performance

Shares of Royal Gold stock opened at $206.65 on Friday. The business has a 50-day moving average of $186.65 and a 200 day moving average of $177.03. Royal Gold, Inc. has a 12 month low of $130.67 and a 12 month high of $209.42. The stock has a market capitalization of $13.60 billion, a price-to-earnings ratio of 30.30, a price-to-earnings-growth ratio of 1.58 and a beta of 0.41.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, August 6th. The basic materials company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.11. Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.The company had revenue of $209.64 million during the quarter, compared to analysts’ expectations of $186.63 million. During the same period last year, the business posted $1.25 EPS. Royal Gold’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities research analysts anticipate that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, October 3rd. Royal Gold’s dividend payout ratio (DPR) is 26.39%.

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.