HighTower Advisors LLC Sells 2,767 Shares of Royal Gold, Inc. $RGLD

HighTower Advisors LLC cut its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 13.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,849 shares of the basic materials company’s stock after selling 2,767 shares during the period. HighTower Advisors LLC’s holdings in Royal Gold were worth $3,580,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Royal Gold during the 2nd quarter worth $68,029,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Royal Gold by 1,090.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 319,454 shares of the basic materials company’s stock worth $56,811,000 after acquiring an additional 292,611 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Royal Gold by 52.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 833,181 shares of the basic materials company’s stock worth $148,173,000 after acquiring an additional 286,268 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of Royal Gold in the second quarter worth about $45,184,000. Finally, Invesco Ltd. boosted its stake in shares of Royal Gold by 19.5% in the 2nd quarter. Invesco Ltd. now owns 928,332 shares of the basic materials company’s stock valued at $165,095,000 after purchasing an additional 151,492 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Royal Gold Stock Down 0.2%

Shares of NASDAQ:RGLD opened at $287.44 on Thursday. The firm has a market cap of $24.38 billion, a P/E ratio of 42.21, a P/E/G ratio of 0.90 and a beta of 0.49. Royal Gold, Inc. has a 12-month low of $142.95 and a 12-month high of $306.25. The business has a fifty day simple moving average of $260.74 and a 200 day simple moving average of $214.27. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.12.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.76). The company had revenue of $360.85 million during the quarter, compared to analyst estimates of $425.47 million. Royal Gold had a net margin of 45.26% and a return on equity of 11.89%. The company’s quarterly revenue was up 85.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 EPS. Analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Wall Street Analyst Weigh In

RGLD has been the subject of a number of research analyst reports. TD Cowen upped their price objective on shares of Royal Gold from $261.00 to $263.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Raymond James Financial set a $264.00 target price on shares of Royal Gold in a research note on Thursday, November 6th. Scotiabank cut Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 price target for the company. in a research note on Monday, January 26th. Jefferies Financial Group reissued a “buy” rating and set a $270.00 price objective on shares of Royal Gold in a report on Sunday, December 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Royal Gold in a research report on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.50.

Insider Transactions at Royal Gold

In other news, Director William M. Hayes sold 4,173 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $277.07, for a total value of $1,156,213.11. Following the transaction, the director owned 6,129 shares in the company, valued at approximately $1,698,162.03. The trade was a 40.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.49% of the company’s stock.

Royal Gold 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.