Just noticed analysts bumped up their price target for Royal Gold to €279.47, that's a solid 15% jump from what they had a couple months back. Current price sitting around €239.70, so there's still room to run if these targets hold up. Interesting to see the sentiment shifting on this one.

What caught my eye though is the institutional activity. Over 1,000 funds now holding positions, and the big players are clearly loading up. Capital World Investors increased their stake by nearly 7%, and Van Eck added another 15% to their holdings. Even Arrowstreet Capital went aggressive, nearly doubling their position in the last quarter. When you see that kind of coordinated buying from serious money, it usually means something's shifting in how they view the gold target.

Total institutional ownership hit 81.3M shares and keeps climbing. The average fund weight on this is still modest at 0.22%, which could mean there's more room for bigger allocations if the thesis continues playing out. Worth keeping on the radar.