Kingsview Wealth Management LLC Increases Stake in Royal Gold, Inc. (NASDAQ:RGLD)

Kingsview Wealth Management LLC has increased its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) (TSE:RGL) by 12.2% during the fourth quarter, based on the latest 13F filing with the Securities and Exchange Commission. Following this adjustment, Kingsview now holds 70,983 shares of Royal Gold, having purchased an additional 7,742 shares during the quarter. At the end of the most recent quarter, the investment firm owned 0.11% of Royal Gold, amounting to a value of $9,359,000.

Changes by Other Hedge Funds

Other institutional investors have also made changes to their holdings in Royal Gold. Veracity Capital LLC raised its holdings by 5.0% in the fourth quarter, now owning 1,585 shares valued at $209,000 after buying an additional 76 shares. Similarly, Nomura Asset Management Co. Ltd. significantly increased its stake by 61.1% in the third quarter, for a total of 290 shares worth $41,000. Janney Montgomery Scott LLC raised its position by 2.3%, bringing its total to 5,330 shares valued at $748,000 after acquiring an additional 122 shares. Additionally, Larson Financial Group LLC increased its stake by 51.7% to hold 361 shares valued at $51,000. UMB Bank n.a. also grew its position in Royal Gold by 11.2%, now holding 1,273 shares valued at $168,000. Overall, institutional investors and hedge funds control 83.65% of the company’s stock.

Insider Transactions

In related news, Daniel Breeze, the Senior Vice President of Royal Gold, sold 549 shares on December 9th for an average price of $150.00, totaling $82,350. Post-transaction, Breeze retains ownership of 16,293 shares valued at $2,443,950, representing a decrease of 3.26% in his holdings. This transaction has been reported in a legal disclosure with the SEC, which is accessible through their website. Currently, insiders own about 0.52% of the company's stock.

Analyst Opinions

Various research firms have recently reviewed Royal Gold. Raymond James has upgraded their target price for the company from $184.00 to $186.00 and maintains an "outperform" rating. Meanwhile, TD Securities increased their price target from $181.00 to $185.00 with a "buy" rating. Moreover, Jefferies Financial Group has upgraded Royal Gold's rating from "hold" to "buy" while raising its target price from $154.00 to $178.00. Currently, there is one sell rating, four hold ratings, and six buy ratings from analysts covering the stock. According to MarketBeat, Royal Gold has an average rating of "Hold" and a consensus price target of $168.86.

Performance Overview

As of Friday, Royal Gold's stock opened at $144.48. Its 50-day simple moving average stands at $139.49, with a 200-day moving average of $140.72. The stock has experienced a 1-year low of $100.55 and a high of $155.10. Royal Gold's market capitalization is $9.50 billion, showcasing a price-to-earnings ratio of 33.14 and a price-to-earnings-growth ratio of 0.87 with a beta of 0.90.

Royal Gold last reported its earnings on November 6th, presenting a strong quarterly performance with earnings of $1.47 per share, surpassing analysts' expectations of $1.34 by $0.13. The company has shown impressive growth with a revenue of $193.84 million, which was above the forecasted $184.12 million. This represents a 39.8% increase in revenue compared to the same quarter of the previous year, where the earnings per share stood at $0.76. Current projections suggest that Royal Gold may report earnings of $5.16 per share for the ongoing year.

Dividend Increase Announcement

The company has recently declared a quarterly dividend of $0.45, marking an increase from the previous dividend of $0.40. The dividend was paid out on January 17th to shareholders on record as of January 3rd. This results in an annualized dividend of $1.80, equivalent to a yield of 1.25%. The ex-dividend date was January 3rd, and Royal Gold currently has a payout ratio of 41.28%.

Company Insights

Royal Gold, Inc. is engaged in acquiring and managing interests in precious metals, including streams and royalties. The company focuses on financing potential projects that are in the production, development, or exploration stages by acquiring relevant interests primarily revolving around gold, silver, copper, nickel, zinc, lead, and other metals.

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