CIBC Asset Management Inc grew its position in shares of Royal Gold, Inc. (NASDAQ:RGLD – Free Report) (TSE:RGL) by 27.4% in the fourth quarter, HoldingsChannel reports. The firm owned 19,396 shares of the basic materials company’s stock after buying an additional 4,168 shares during the quarter. CIBC Asset Management Inc’s holdings in Royal Gold were worth $4,312,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in RGLD. Van ECK Associates Corp grew its position in shares of Royal Gold by 104.1% during the third quarter. Van ECK Associates Corp now owns 4,994,944 shares of the basic materials company’s stock valued at $1,001,885,000 after purchasing an additional 2,547,076 shares in the last quarter. Vanguard Group Inc. grew its position in Royal Gold by 25.0% in the fourth quarter. Vanguard Group Inc. now owns 8,398,944 shares of the basic materials company’s stock worth $1,867,001,000 after acquiring an additional 1,681,577 shares in the last quarter. Bank of New York Mellon Corp grew its position in Royal Gold by 33.6% in the fourth quarter. Bank of New York Mellon Corp now owns 834,789 shares of the basic materials company’s stock worth $185,565,000 after acquiring an additional 209,851 shares in the last quarter. State Street Corp grew its position in Royal Gold by 5.4% in the third quarter. State Street Corp now owns 3,321,868 shares of the basic materials company’s stock worth $666,300,000 after acquiring an additional 170,430 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Royal Gold by 17.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 981,548 shares of the basic materials company’s stock worth $196,879,000 after acquiring an additional 148,367 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.
Royal Gold Stock Down 6.4%
Shares of NASDAQ RGLD opened at $206.07 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.52 and a quick ratio of 3.26. The company has a market cap of $17.49 billion, a P/E ratio of 24.56, a PEG ratio of 1.53 and a beta of 0.41. Royal Gold, Inc. has a 1 year low of $150.75 and a 1 year high of $306.25. The firm has a 50-day simple moving average of $241.41 and a two-hundred day simple moving average of $244.70.
Royal Gold Announces Dividend
Insider Activity
In other news, SVP Randy Shefman sold 1,000 shares of Royal Gold stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $243.74, for a total transaction of $243,740.00. Following the completion of the sale, the senior vice president owned 9,082 shares of the company’s stock, valued at approximately $2,213,646.68. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Isto sold 2,000 shares of Royal Gold stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $274.83, for a total transaction of $549,660.00. Following the sale, the director directly owned 20,043 shares of the company’s stock, valued at $5,508,417.69. This represents a 9.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.35% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research firms recently commented on RGLD. UBS Group set a $325.00 price target on Royal Gold and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Gold in a research report on Tuesday, April 21st. Zacks Research lowered Royal Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Finally, National Bank Financial dropped their price target on Royal Gold from $350.00 to $340.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Royal Gold presently has an average rating of “Moderate Buy” and a consensus target price of $273.64.
Read Our Latest Stock Report on Royal Gold
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.
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