Daniel Breeze, Senior Vice President of Corporate Development at Royal Gold Inc. (NASDAQ:RGLD), a $9.8 billion market cap precious metals company with impressive gross profit margins of 86%, recently sold a portion of his holdings in the company. According to InvestingPro analysis, the company maintains a "GREAT" financial health score. According to a regulatory filing, Breeze sold a total of 750 shares of common stock over two days. On December 9, 549 shares were sold at a price of $150 each, and on December 10, an additional 201 shares were sold at $150.06 per share. The total value of these transactions amounts to $112,512. Following these sales, Breeze retains ownership of 16,092 shares in the company. The stock is currently trading near its 52-week high of $155.10, and InvestingPro data suggests the stock is fairly valued. InvestingPro subscribers have access to 10 additional investment tips and a comprehensive Pro Research Report for RGLD, offering deeper insights into the company's valuation and prospects.
In other recent news, Royal Gold Inc. announced a series of corporate changes, including the extension of employment agreements for key officers and amendments to its bylaws. The company also reported record revenues for the third quarter of 2024, reaching $194 million, a 40% increase from the previous year. Royal Gold's robust financial position was highlighted by its liquidity of over $1.1 billion and no remaining debt. In addition, the company announced a 12.5% increase in its annual common stock dividend, raising it from $1.60 to $1.80 per share.
Contributions from new producing assets, including Cote Gold and Mancha, have bolstered revenues. The acquisition of Back River royalties aligns with the company's focus on quality projects in favorable jurisdictions. Despite uncertainties in production guidance for 2025 and political changes in Botswana, Royal Gold remains optimistic about future deals, particularly in the Americas and Australia. These are among the recent developments at Royal Gold, a company that continues to focus on business development and maintaining disciplined due diligence standards.
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