CIBC Asset Management Inc Has $1.70 Million Stock Holdings in Royal Gold, Inc. (NASDAQ:RGLD)

CIBC Asset Management Inc grew its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,894 shares of the basic materials company’s stock after purchasing an additional 94 shares during the quarter. CIBC Asset Management Inc’s holdings in Royal Gold were worth $1,700,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Exchange Traded Concepts LLC acquired a new position in shares of Royal Gold in the fourth quarter valued at approximately $25,000. Point72 Hong Kong Ltd acquired a new stake in shares of Royal Gold during the third quarter worth $36,000. Advisors Asset Management Inc. acquired a new stake in Royal Gold in the 3rd quarter worth about $38,000. Nomura Asset Management Co. Ltd. grew its position in Royal Gold by 61.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 290 shares of the basic materials company’s stock worth $41,000 after buying an additional 110 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in Royal Gold by 51.7% during the 3rd quarter. Larson Financial Group LLC now owns 361 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on RGLD. TD Securities boosted their price target on Royal Gold from $181.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Raymond James upped their price target on shares of Royal Gold from $184.00 to $186.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Jefferies Financial Group upgraded shares of Royal Gold from a “hold” rating to a “buy” rating and boosted their price objective for the company from $154.00 to $178.00 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Royal Gold has an average rating of “Hold” and an average price target of $168.86.

Royal Gold Stock Performance

NASDAQ RGLD opened at $148.45 on Friday. The firm’s fifty day moving average price is $139.53 and its two-hundred day moving average price is $141.65. The stock has a market cap of $9.76 billion, a PE ratio of 29.45, a PEG ratio of 3.35 and a beta of 0.90. Royal Gold, Inc. has a fifty-two week low of $100.55 and a fifty-two week high of $155.64.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, February 12th. The basic materials company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. Royal Gold had a return on equity of 11.46% and a net margin of 46.15%. As a group, sell-side analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Insider Activity at Royal Gold

In related news, SVP Daniel Breeze sold 549 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $150.00, for a total transaction of $82,350.00. Following the completion of the transaction, the senior vice president now directly owns 16,293 shares of the company’s stock, valued at $2,443,950. This trade represents a 3.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is owned by company insiders.

Royal Gold 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.