Royal Gold, Inc. $RGLD Holdings Cut by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC reduced its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 18.3% in the third quarter, HoldingsChannel.com reports. The fund owned 12,773 shares of the basic materials company’s stock after selling 2,854 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Royal Gold were worth $2,562,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in RGLD. Encompass More Asset Management lifted its holdings in shares of Royal Gold by 4.2% in the 3rd quarter. Encompass More Asset Management now owns 1,283 shares of the basic materials company’s stock worth $257,000 after purchasing an additional 52 shares during the last quarter. Sowell Financial Services LLC grew its stake in Royal Gold by 4.0% during the 3rd quarter. Sowell Financial Services LLC now owns 1,368 shares of the basic materials company’s stock worth $274,000 after buying an additional 52 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Royal Gold by 33.9% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 221 shares of the basic materials company’s stock worth $44,000 after buying an additional 56 shares during the period. Avidian Wealth Enterprises LLC lifted its stake in Royal Gold by 2.3% in the third quarter. Avidian Wealth Enterprises LLC now owns 2,635 shares of the basic materials company’s stock valued at $529,000 after buying an additional 59 shares during the last quarter. Finally, Forum Financial Management LP lifted its stake in Royal Gold by 4.1% in the third quarter. Forum Financial Management LP now owns 1,746 shares of the basic materials company’s stock valued at $350,000 after buying an additional 69 shares during the last quarter. 83.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Canadian Imperial Bank of Commerce restated a “neutral” rating and set a $330.00 price target on shares of Royal Gold in a research report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Gold in a research note on Thursday, January 22nd. BMO Capital Markets set a $240.00 target price on shares of Royal Gold and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. TD Cowen lifted their price target on Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Finally, Wall Street Zen downgraded Royal Gold from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $251.50.

Royal Gold Stock Performance

Shares of RGLD opened at $286.10 on Tuesday. The firm has a market capitalization of $24.15 billion, a PE ratio of 39.30, a P/E/G ratio of 0.85 and a beta of 0.49. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $251.37 and a 200 day moving average price of $208.66. Royal Gold, Inc. has a 52-week low of $142.95 and a 52-week high of $306.25.

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.