BNP PARIBAS ASSET MANAGEMENT Holding S.A. has increased its investment in Royal Gold, Inc. by 2.7% in the first quarter, according to the latest Form 13F filing with the SEC. The firm now holds 23,484 shares of Royal Gold’s stock, worth $2,861,000 at the end of the reporting period.
Other hedge funds and institutional investors have also been adding to their positions in Royal Gold. Wellington Management Group LLP increased its stake by 0.3% during the third quarter, while Creative Financial Designs Inc. ADV saw an 86.5% boost in the fourth quarter. Overall, 83.65% of the stock is owned by institutional investors.
Wall Street analysts have forecasted growth for Royal Gold, with several firms raising their target prices for the stock. The average rating for Royal Gold is currently “Hold,” with an average target price of $152.75. Insider activity has also been noted, with SVP Daniel Breeze recently selling 1,500 shares of the company’s stock.
Despite this positive activity, Royal Gold stock was down 0.4% on the market, opening at $138.18. The company reported earnings results that slightly missed estimates, with a revenue decrease compared to the same quarter last year. Royal Gold also announced a quarterly dividend, with an annualized yield of 1.16%.
Royal Gold, Inc. specializes in acquiring and managing precious metal streams, royalties, and related interests. Investors interested in tracking Royal Gold’s performance can visit HoldingsChannel.com for the latest filings and insider trades.
