Royal Gold, Inc. $RGLD Shares Bought by Cibc World Market Inc.

Cibc World Market Inc. grew its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 755.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,611 shares of the basic materials company’s stock after acquiring an additional 19,968 shares during the quarter. Cibc World Market Inc.’s holdings in Royal Gold were worth $4,535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in RGLD. Norges Bank acquired a new stake in shares of Royal Gold during the second quarter worth $68,029,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Royal Gold by 1,090.1% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 319,454 shares of the basic materials company’s stock valued at $56,811,000 after buying an additional 292,611 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Royal Gold by 52.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 833,181 shares of the basic materials company’s stock valued at $148,173,000 after buying an additional 286,268 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Royal Gold during the second quarter worth about $45,184,000. Finally, Invesco Ltd. lifted its holdings in Royal Gold by 19.5% in the second quarter. Invesco Ltd. now owns 928,332 shares of the basic materials company’s stock worth $165,095,000 after acquiring an additional 151,492 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RGLD has been the subject of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Gold in a report on Thursday, January 22nd. Jefferies Financial Group restated a “buy” rating and set a $270.00 price objective on shares of Royal Gold in a research report on Sunday, December 7th. Scotiabank lowered Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 target price on the stock. in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating and issued a $330.00 target price on shares of Royal Gold in a research note on Wednesday, February 4th. Finally, TD Cowen upped their price target on shares of Royal Gold from $261.00 to $263.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $251.50.

Royal Gold Stock Up 4.9%

Shares of Royal Gold stock opened at $286.10 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.89 and a quick ratio of 2.68. Royal Gold, Inc. has a 1-year low of $142.95 and a 1-year high of $306.25. The business’s fifty day moving average price is $249.61 and its two-hundred day moving average price is $207.33. The company has a market capitalization of $24.15 billion, a P/E ratio of 39.30, a PEG ratio of 0.85 and a beta of 0.49.

Royal Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a dividend of $0.475 per share. This is a positive change from Royal Gold’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, January 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.7%. Royal Gold’s payout ratio is presently 26.10%.

Royal Gold Profile

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.