CIBC Asset Management Inc Raises Holdings in Royal Gold, Inc. $RGLD

CIBC Asset Management Inc grew its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 27.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC lifted its holdings in shares of Royal Gold by 52.8% during the 4th quarter. SG Americas Securities LLC now owns 17,671 shares of the basic materials company’s stock valued at $3,928,000 after buying an additional 6,109 shares during the period. Louisbourg Investments Inc. bought a new position in shares of Royal Gold during the 4th quarter valued at $3,938,000. Prospera Financial Services Inc bought a new position in shares of Royal Gold during the 3rd quarter valued at $1,068,000. Plancorp LLC lifted its holdings in shares of Royal Gold by 69.8% during the 4th quarter. Plancorp LLC now owns 13,732 shares of the basic materials company’s stock valued at $3,053,000 after buying an additional 5,646 shares during the period. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Royal Gold by 22.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 135,050 shares of the basic materials company’s stock valued at $27,056,000 after buying an additional 25,187 shares during the period. 83.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RGLD has been the topic of several research analyst reports. Zacks Research cut Royal Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. UBS Group set a $325.00 target price on Royal Gold and gave the stock a “buy” rating in a report on Wednesday, April 15th. National Bank Financial decreased their target price on Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Gold in a report on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Royal Gold presently has an average rating of “Moderate Buy” and a consensus price target of $273.64.

Royal Gold Price Performance

Shares of Royal Gold stock opened at $206.07 on Friday. Royal Gold, Inc. has a one year low of $150.75 and a one year high of $306.25. The stock’s fifty day moving average is $241.41 and its 200 day moving average is $244.70. The stock has a market cap of $17.49 billion, a P/E ratio of 24.56, a P/E/G ratio of 1.53 and a beta of 0.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.26 and a current ratio of 3.52.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.9%. Royal Gold’s dividend payout ratio (DPR) is currently 22.65%.

Insider Transactions at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $243.74, for a total transaction of $243,740.00. Following the sale, the senior vice president directly owned 9,082 shares of the company’s stock, valued at $2,213,646.68. This trade represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Isto sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $274.83, for a total value of $549,660.00. Following the sale, the director directly owned 20,043 shares in the company, valued at approximately $5,508,417.69. This represents a 9.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.35% of the stock is owned by company insiders.

About Royal Gold

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.