Convergence Investment Partners LLC Acquires 3,757 Shares of Royal Gold, Inc. (NASDAQ:RGLD)

Convergence Investment Partners LLC boosted its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 76.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,694 shares of the basic materials company’s stock after purchasing an additional 3,757 shares during the quarter. Convergence Investment Partners LLC’s holdings in Royal Gold were worth $1,146,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can lifted its holdings in shares of Royal Gold by 187.5% in the third quarter. Bank of Montreal Can now owns 127,285 shares of the basic materials company’s stock worth $18,049,000 after buying an additional 83,015 shares in the last quarter. Verition Fund Management LLC lifted its stake in Royal Gold by 213.1% in the 3rd quarter. Verition Fund Management LLC now owns 8,051 shares of the basic materials company’s stock worth $1,130,000 after purchasing an additional 5,480 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Royal Gold during the 3rd quarter valued at about $1,201,000. Cerity Partners LLC grew its position in shares of Royal Gold by 114.5% during the third quarter. Cerity Partners LLC now owns 32,268 shares of the basic materials company’s stock valued at $4,527,000 after purchasing an additional 17,227 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in shares of Royal Gold in the fourth quarter worth about $455,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on RGLD. Raymond James raised their price target on Royal Gold from $184.00 to $186.00 and gave the company an “outperform” rating in a report on Monday, November 11th. TD Securities boosted their price target on shares of Royal Gold from $181.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group raised shares of Royal Gold from a “hold” rating to a “buy” rating and upped their price target for the company from $154.00 to $178.00 in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Royal Gold has a consensus rating of “Hold” and an average target price of $168.86.

Royal Gold Stock Performance

Royal Gold stock opened at $149.24 on Thursday. Royal Gold, Inc. has a one year low of $100.55 and a one year high of $155.64. The stock has a market cap of $9.81 billion, a PE ratio of 29.61, a price-to-earnings-growth ratio of 0.88 and a beta of 0.90. The stock has a 50-day moving average of $139.46 and a two-hundred day moving average of $141.44.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, February 12th. The basic materials company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 6.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Daniel Breeze sold 549 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $150.00, for a total transaction of $82,350.00. Following the sale, the senior vice president now 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 through this link. 0.52% of the stock is owned by insiders.

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.