Royal Gold, Inc. to Post Q2 2024 Earnings of $0.88 Per Share, Raymond James Forecasts (NASDAQ:RGLD)

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Equities research analysts at Raymond James dropped their Q2 2024 earnings per share estimates for shares of Royal Gold in a research note issued on Wednesday, April 17th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings of $0.88 per share for the quarter, down from their prior forecast of $0.93. The consensus estimate for Royal Gold’s current full-year earnings is $4.34 per share. Raymond James also issued estimates for Royal Gold’s Q3 2024 earnings at $0.98 EPS, Q4 2024 earnings at $1.01 EPS and FY2024 earnings at $3.78 EPS.

Other research analysts have also recently issued research reports about the company. National Bank Financial raised Royal Gold from a “sector perform” rating to an “outperform” rating in a research report on Thursday, February 15th. Jefferies Financial Group assumed coverage on shares of Royal Gold in a report on Thursday, February 29th. They set a “hold” rating and a $117.00 price objective for the company. BMO Capital Markets raised Royal Gold from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $148.00 to $158.00 in a report on Wednesday, March 27th. Finally, Cantor Fitzgerald downgraded Royal Gold from an “overweight” rating to a “neutral” rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Royal Gold has an average rating of “Hold” and a consensus target price of $143.25.

Royal Gold Stock Up 0.9 %

Shares of NASDAQ RGLD opened at $122.73 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.31 and a quick ratio of 2.18. Royal Gold has a 1 year low of $100.55 and a 1 year high of $147.82. The stock has a market capitalization of $8.07 billion, a P/E ratio of 33.72, a P/E/G ratio of 6.30 and a beta of 0.87. The company has a 50-day moving average price of $113.73 and a 200-day moving average price of $114.28.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.20. The company had revenue of $152.70 million for the quarter, compared to analysts’ expectations of $140.32 million. Royal Gold had a return on equity of 8.18% and a net margin of 39.53%. Royal Gold’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors boosted its stake in Royal Gold by 3.2% during the fourth quarter. Captrust Financial Advisors now owns 2,702 shares of the basic materials company’s stock valued at $305,000 after buying an additional 85 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Royal Gold by 2.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,042 shares of the basic materials company’s stock valued at $572,000 after acquiring an additional 96 shares during the last quarter. Harbour Investments Inc. grew its holdings in shares of Royal Gold by 20.4% during the fourth quarter. Harbour Investments Inc. now owns 572 shares of the basic materials company’s stock worth $64,000 after purchasing an additional 97 shares in the last quarter. Commerce Bank increased its position in shares of Royal Gold by 4.3% in the fourth quarter. Commerce Bank now owns 2,356 shares of the basic materials company’s stock worth $285,000 after purchasing an additional 98 shares during the last quarter. Finally, Dana Investment Advisors Inc. raised its stake in Royal Gold by 0.5% in the fourth quarter. Dana Investment Advisors Inc. now owns 23,255 shares of the basic materials company’s stock valued at $2,813,000 after purchasing an additional 110 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Randy Shefman sold 500 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $104.18, for a total transaction of $52,090.00. Following the sale, the vice president now directly owns 9,473 shares in the company, valued at $986,897.14. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.40% of the stock is owned by corporate insiders.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, April 4th. This represents a $1.60 dividend on an annualized basis and a yield of 1.30%. Royal Gold’s dividend payout ratio (DPR) is 43.96%.

Royal Gold Company Profile

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.