Horizon Kinetics Asset Management LLC Cuts Position in Royal Gold, Inc. (NASDAQ:RGLD)

Horizon Kinetics Asset Management LLC cut its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 2.1% during the fourth quarter, HoldingsChannel reports. The fund owned 74,792 shares of the basic materials company’s stock after selling 1,575 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Royal Gold were worth $9,861,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Veracity Capital LLC increased its holdings in shares of Royal Gold by 5.0% in the 4th quarter. Veracity Capital LLC now owns 1,585 shares of the basic materials company’s stock valued at $209,000 after acquiring an additional 76 shares during the period. Savant Capital LLC boosted its position in shares of Royal Gold by 0.4% in the 4th quarter. Savant Capital LLC now owns 21,112 shares of the basic materials company’s stock worth $2,784,000 after purchasing an additional 93 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Royal Gold by 0.7% in the 4th quarter. CIBC Asset Management Inc now owns 12,894 shares of the basic materials company’s stock worth $1,700,000 after purchasing an additional 94 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Royal Gold by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the basic materials company’s stock worth $2,413,000 after purchasing an additional 100 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Royal Gold by 3.5% in the 4th quarter. Parallel Advisors LLC now owns 3,075 shares of the basic materials company’s stock worth $405,000 after purchasing an additional 104 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Royal Gold Stock Performance

Shares of RGLD opened at $154.20 on Monday. The stock has a 50-day moving average of $144.26 and a two-hundred day moving average of $143.35. Royal Gold, Inc. has a one year low of $107.33 and a one year high of $157.67. The stock has a market cap 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.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.63 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%. Analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be issued a $0.45 dividend. The ex-dividend date is Friday, April 4th. This represents a $1.80 annualized dividend and a dividend yield of 1.17%. Royal Gold’s dividend payout ratio (DPR) is presently 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.