Core Insights - Armor Advisors L.L.C. reduced its holdings in Royal Gold, Inc. by 7.5% in Q3, owning 58,805 shares after selling 4,800 shares, which represents 6.6% of its total holdings [2] - Institutional investors and hedge funds own 83.65% of Royal Gold's stock, with several firms increasing their stakes significantly in Q3 [3] - Royal Gold's stock performance shows a market capitalization of $24.10 billion, with a P/E ratio of 41.93 and a 12-month high of $306.25 [5] Institutional Holdings - Prospera Financial Services Inc. acquired a new stake valued at approximately $1,068,000 in Q3 [3] - Financiere des Professionnels Fonds d'investissement inc. increased its position by 275.8%, now owning shares worth $1,335,000 [3] - Campbell & CO Investment Adviser LLC raised its stake by 576.4%, owning shares valued at $7,044,000 after purchasing an additional 29,927 shares [3] Analyst Ratings - Raymond James Financial set a price objective of $264.00 for Royal Gold [4] - Jefferies Financial Group maintained a "buy" rating with a price target of $270.00 [4] - The consensus rating for Royal Gold is "Moderate Buy" with a price target of $251.50 [4] Financial Performance - Royal Gold reported earnings of $1.92 per share, missing estimates of $2.68 by $0.76, with revenue of $360.85 million, below the consensus estimate of $425.47 million [6] - The company's revenue increased by 85.2% year-over-year [6] - Analysts predict an EPS of 6.2 for the current year [6] Company Overview - Royal Gold, Inc. is a leading precious metals streaming and royalty company, providing upfront financing to mining operators in exchange for future metal production rights [7] - The company has interests in over 200 streams and royalties across multiple continents, including North America, South America, Europe, Africa, and Australia [8]