Thrivent Financial for Lutherans Reduces Position in Royal Gold, Inc. $RGLD

Thrivent Financial for Lutherans decreased its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 42.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 25,024 shares of the basic materials company’s stock after selling 18,601 shares during the period. Thrivent Financial for Lutherans’ holdings in Royal Gold were worth $5,020,000 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 RGLD. AQR Capital Management LLC boosted its position in Royal Gold by 8.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,820,435 shares of the basic materials company’s stock valued at $319,140,000 after buying an additional 137,524 shares during the period. Geode Capital Management LLC raised its stake in shares of Royal Gold by 3.6% during the second quarter. Geode Capital Management LLC now owns 1,751,136 shares of the basic materials company’s stock valued at $311,457,000 after acquiring an additional 61,352 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Royal Gold by 19.5% during the second quarter. Invesco Ltd. now owns 928,332 shares of the basic materials company’s stock worth $165,095,000 after purchasing an additional 151,492 shares during the period. Arrowstreet Capital Limited Partnership grew its stake 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 purchasing an additional 286,268 shares during the last quarter. Finally, Swedbank AB increased its holdings in Royal Gold by 35.0% during the 3rd quarter. Swedbank AB now owns 424,129 shares of the basic materials company’s stock valued at $85,072,000 after purchasing an additional 109,981 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Royal Gold Price Performance

Shares of RGLD stock opened at $265.77 on Friday. The business’s fifty day moving average is $241.62 and its 200 day moving average is $202.58. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.23. The stock has a market cap of $22.43 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 0.70 and a beta of 0.49. Royal Gold, Inc. has a twelve month low of $142.95 and a twelve month high of $306.25.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, November 5th. The basic materials company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.24). The business had revenue of $250.23 million for the quarter, compared to the consensus estimate of $275.11 million. Royal Gold had a net margin of 55.99% and a return on equity of 14.14%. The business’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 EPS. Research analysts expect that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were paid a dividend of $0.475 per share. The ex-dividend date of this dividend was Friday, January 2nd. This is an increase from Royal Gold’s previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a yield of 0.7%. Royal Gold’s payout ratio is presently 26.10%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RGLD. Canadian Imperial Bank of Commerce reiterated a “neutral” rating and issued a $330.00 price objective on shares of Royal Gold in a report on Wednesday. Scotiabank lowered 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. Raymond James Financial set a $264.00 price target on shares of Royal Gold in a report on Thursday, November 6th. BMO Capital Markets set a $240.00 price objective on shares of Royal Gold and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen cut shares of Royal Gold from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Royal Gold has a consensus rating of “Moderate Buy” and an average price target of $251.50.

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.