First Eagle Investment Management significantly increased its position in Royal Gold, acquiring over 799,000 additional shares, an 88% increase to its holding. The trades, which took place during the second quarter of 2026, boosted the reported value of its stake to $344 million. This disclosure comes from a quarterly 13F filing with the SEC, which is a delayed look at a portfolio manager's holdings and may not reflect their current position.
The increased investment occurred as Royal Gold reported strong financial results for the first half of 2026, including record operating cash flow. [1, 2] The company's stock has also received bullish analyst commentary, with some highlighting its valuation as attractive compared to peers. [1, 8] First Eagle has not publicly commented on its specific motive for the increased stake.