Corebridge Financial Inc. Sells 3,336 Shares of Royal Gold, Inc. (NASDAQ:RGLD)

Corebridge Financial Inc. reduced its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 4.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 74,405 shares of the basic materials company’s stock after selling 3,336 shares during the quarter. Corebridge Financial Inc.’s holdings in Royal Gold were worth $9,810,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Royal Gold in the 4th quarter worth about $741,000. Arizona State Retirement System lifted its holdings in Royal Gold by 0.8% in the fourth quarter. Arizona State Retirement System now owns 19,076 shares of the basic materials company’s stock worth $2,515,000 after buying an additional 149 shares during the period. Bank of Montreal Can boosted its position in Royal Gold by 187.5% during the 3rd quarter. Bank of Montreal Can now owns 127,285 shares of the basic materials company’s stock valued at $18,049,000 after acquiring an additional 83,015 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of Royal Gold by 213.1% during the 3rd quarter. Verition Fund Management LLC now owns 8,051 shares of the basic materials company’s stock worth $1,130,000 after acquiring an additional 5,480 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Royal Gold in the 3rd quarter worth approximately $1,201,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Royal Gold Stock Down 0.6 %

NASDAQ RGLD opened at $159.34 on Thursday. The business has a 50-day moving average price of $147.74 and a 200-day moving average price of $144.37. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Gold, Inc. has a twelve month low of $111.43 and a twelve month high of $162.20.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.46 by $0.17. Royal Gold had a net margin of 46.15% and a return on equity of 11.46%. Research analysts expect that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, April 4th. Royal Gold’s dividend payout ratio is 35.71%.

Insider Activity at Royal Gold

In other news, SVP Randy Shefman sold 1,300 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $154.98, for a total transaction of $201,474.00. Following the transaction, the senior vice president now owns 9,360 shares of the company’s stock, valued at approximately $1,450,612.80. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.52% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Jefferies Financial Group upgraded Royal Gold from a “hold” rating to a “buy” rating and increased their price objective for the stock from $154.00 to $178.00 in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $168.86.

Royal Gold Company 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.