CI Investments Inc. Trims Stock Position in Royal Gold, Inc. $RGLD

CI Investments Inc. decreased its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 6.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,931 shares of the basic materials company’s stock after selling 8,866 shares during the period. CI Investments Inc.’s holdings in Royal Gold were worth $31,030,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Elyxium Wealth LLC purchased a new stake in Royal Gold in the fourth quarter valued at $27,000. Gen Wealth Partners Inc acquired a new stake in shares of Royal Gold during the fourth quarter worth about $27,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Royal Gold during the fourth quarter worth about $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Royal Gold in the 4th quarter valued at about $30,000. Finally, Bank & Trust Co lifted its holdings in shares of Royal Gold by 600.0% in the 4th quarter. Bank & Trust Co now owns 140 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 120 shares during the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $215.85, for a total transaction of $107,925.00. Following the transaction, the senior vice president owned 8,582 shares in the company, valued at approximately $1,852,424.70. The trade was a 5.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Royal Gold Trading Up 3.7%

NASDAQ:RGLD opened at $201.26 on Thursday. Royal Gold, Inc. has a 12-month low of $150.75 and a 12-month high of $306.25. The company has a current ratio of 3.52, a quick ratio of 3.26 and a debt-to-equity ratio of 0.08. The stock’s 50 day simple moving average is $209.01 and its 200-day simple moving average is $243.20. The firm has a market cap of $17.08 billion, a P/E ratio of 23.99, a PEG ratio of 1.33 and a beta of 0.44.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Thursday, July 2nd were issued a $0.475 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.9%. Royal Gold’s payout ratio is presently 22.65%.

Analyst Upgrades and Downgrades

RGLD has been the topic of several research analyst reports. National Bank Financial cut their price target on Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. Zacks Research upgraded shares of Royal Gold from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Weiss Ratings cut shares of Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Royal Bank Of Canada reduced their price target on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Finally, UBS Group decreased their price target on shares of Royal Gold from $325.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Nine 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, the company has an average rating of “Moderate Buy” and an average price target of $280.27.

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.