Northwestern Mutual Investment Management Company LLC increased its stake in Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 21.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,793 shares of the basic materials company’s stock after buying an additional 4,059 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Royal Gold were worth $1,999,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of RGLD. CI Investments Inc. lifted its position in shares of Royal Gold by 9.3% during the fourth quarter. CI Investments Inc. now owns 23,130 shares of the basic materials company’s stock worth $2,828,000 after purchasing an additional 1,971 shares during the last quarter. Pearl River Capital LLC bought a new stake in shares of Royal Gold during the fourth quarter worth $215,000. Guggenheim Capital LLC lifted its position in shares of Royal Gold by 32.5% during the fourth quarter. Guggenheim Capital LLC now owns 51,859 shares of the basic materials company’s stock worth $6,339,000 after purchasing an additional 12,726 shares during the last quarter. Norges Bank bought a new stake in shares of Royal Gold during the fourth quarter worth $74,258,000. Finally, Confluence Investment Management LLC lifted its position in shares of Royal Gold by 23.3% during the fourth quarter. Confluence Investment Management LLC now owns 2,942 shares of the basic materials company’s stock worth $360,000 after purchasing an additional 555 shares during the last quarter. Institutional investors own 78.81% of the company’s stock.
RGLD opened at $136.96 on Friday. The business’s 50-day moving average is $118.01 and its two-hundred day moving average is $110.87. Royal Gold, Inc has a 1 year low of $59.78 and a 1 year high of $139.63. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.02 and a quick ratio of 2.78. The firm has a market capitalization of $8.97 billion, a PE ratio of 57.94, a price-to-earnings-growth ratio of 5.63 and a beta of 0.81.
Several analysts have recently weighed in on RGLD shares. ValuEngine downgraded Royal Gold from a “sell” rating to a “strong sell” rating in a research report on Monday, March 30th. TheStreet upgraded Royal Gold from a “c+” rating to a “b” rating in a research note on Wednesday, May 6th. Cfra raised their price target on Royal Gold from $136.00 to $151.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Canaccord Genuity restated a “hold” rating and set a $108.00 price target on shares of Royal Gold in a research note on Thursday, May 7th. Finally, Barclays upgraded Royal Gold from an “underweight” rating to an “equal weight” rating and set a $105.00 price target on the stock in a research note on Thursday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $127.15.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.
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