Convergence Investment Partners LLC Has $1.15 Million Stock Position in Royal Gold, Inc. (NASDAQ:RGLD)

Convergence Investment Partners LLC raised its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 76.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,694 shares of the basic materials company's stock after purchasing an additional 3,757 shares during the period. Convergence Investment Partners LLC's holdings in Royal Gold were worth $1,146,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC purchased a new position in shares of Royal Gold in the fourth quarter valued at $25,000. Point72 Hong Kong Ltd bought a new position in Royal Gold during the 3rd quarter valued at $36,000. Advisors Asset Management Inc. bought a new position in Royal Gold during the 3rd quarter valued at $38,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of Royal Gold by 61.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 290 shares of the basic materials company's stock worth $41,000 after acquiring an additional 110 shares during the period. Finally, Larson Financial Group LLC increased its holdings in shares of Royal Gold by 51.7% in 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. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Royal Gold

In related 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 transaction, the senior vice president now owns 16,293 shares of the company's stock, valued at approximately $2,443,950. This trade represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is owned by insiders.

Analyst Ratings Changes

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

Royal Gold Trading Down 2.2 %

Shares of RGLD traded down $3.42 during midday trading on Friday, hitting $148.82. The stock had a trading volume of 272,110 shares, compared to its average volume of 432,496. Royal Gold, Inc. has a fifty-two week low of $100.55 and a fifty-two week high of $155.64. The business has a 50-day simple moving average of $139.50 and a two-hundred day simple moving average of $141.52. The firm has a market cap of $9.79 billion, a P/E ratio of 29.48, a price-to-earnings-growth ratio of 3.35 and a beta of 0.90.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its quarterly 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 net margin of 46.15% and a return on equity of 11.46%. On average, analysts expect that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

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.