In a recent transaction, Randy Shefman, the Senior Vice President and General Counsel of Royal Gold Inc (NASDAQ:RGLD), sold 1,000 shares of the company's common stock. The sale was executed at a weighted average price of $130.07 per share, resulting in a total value of $130,070. This transaction was reported in a filing with the Securities and Exchange Commission dated May 16, 2024.
According to the filing, the shares were sold on May 15, 2024, in multiple transactions at prices ranging from $130.04 to $130.15. Following the sale, Shefman's direct ownership in the company has decreased to 11,127 shares of common stock.
The sale by a high-ranking executive of Royal Gold Inc, a company known for its mineral royalty trading, may be of interest to investors monitoring insider activities. The details of the transaction, including the exact number of shares sold at each price point, have been offered to be provided upon request by the reporting person to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission.
Royal Gold Inc has not made any public statements regarding this transaction as of now. The sale was signed off by Michelle Perry, acting as Attorney-in-Fact for Randy Shefman. The reported transaction provides transparency into the trading activities of the company's executives and is a routine disclosure required by the SEC for all insiders of public companies.
InvestingPro Insights
Royal Gold Inc (NASDAQ:RGLD) has been displaying a strong financial performance, as evidenced by the company's gross profit margin and consistent dividend growth. The gross profit margin for the last twelve months as of Q1 2024 stands at an impressive 84.89%, indicating the company's ability to manage its cost of goods sold effectively and maintain profitability. Additionally, Royal Gold Inc has a history of rewarding its shareholders, having raised its dividend for 8 consecutive years, with a dividend growth of 6.67% during the same period. This commitment to shareholder returns is further underscored by the company's ability to maintain dividend payments for 25 consecutive years.
Investors might also note that Royal Gold Inc trades at a high earnings multiple, with a P/E ratio of 38.38, reflecting the market's optimism about the company's future earnings potential. This is further supported by the fact that 3 analysts have revised their earnings upwards for the upcoming period, as per InvestingPro Tips. Such positive sentiment is mirrored in the company's stock performance, with a 20.48% return over the last three months, and the stock trading near its 52-week high at 98.72% of that value.
For those interested in a deeper analysis, there are 13 additional InvestingPro Tips available that can provide further insight into Royal Gold Inc's performance and outlook. To explore these tips and make more informed investment decisions, be sure to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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