Convergence Investment Partners LLC Boosts Stock Position in Royal Gold, Inc. (NASDAQ:RGLD)

Convergence Investment Partners LLC raised its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 76.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,694 shares of the basic materials company’s stock after buying an additional 3,757 shares during the quarter. Convergence Investment Partners LLC’s holdings in Royal Gold were worth $1,146,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Van ECK Associates Corp grew its holdings in shares of Royal Gold by 1.1% during the third quarter. Van ECK Associates Corp now owns 3,637,739 shares of the basic materials company’s stock valued at $553,810,000 after buying an additional 39,394 shares during the last quarter. Geode Capital Management LLC lifted its position in Royal Gold by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,321,555 shares of the basic materials company’s stock valued at $185,454,000 after acquiring an additional 33,151 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Royal Gold by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 479,140 shares of the basic materials company’s stock valued at $67,223,000 after acquiring an additional 1,641 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Royal Gold by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 194,326 shares of the basic materials company’s stock valued at $27,264,000 after purchasing an additional 1,636 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Royal Gold by 1.9% in the 4th quarter. Rhumbline Advisers now owns 179,029 shares of the basic materials company’s stock worth $23,605,000 after purchasing an additional 3,286 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Royal Gold

In other Royal Gold news, SVP Daniel Breeze sold 549 shares of Royal Gold 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 $2,443,950. The trade was a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Royal Gold Trading Up 0.1 %

RGLD opened at $149.24 on Thursday. The company’s 50 day moving average is $139.46 and its 200 day moving average is $141.44. The company has a market cap of $9.81 billion, a price-to-earnings ratio of 29.61, a PEG ratio of 0.88 and a beta of 0.90. Royal Gold, Inc. has a 12-month low of $100.55 and a 12-month high of $155.64.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.17. Royal Gold had a net margin of 46.15% and a return on equity of 11.46%. As a group, analysts predict that Royal Gold, Inc. will post 6.34 EPS for the current fiscal year.

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.