National Bank Financial Analysts Boost Earnings Estimates for Royal Gold, Inc. (NASDAQ:RGLD)

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – National Bank Financial upped their Q1 2024 earnings per share (EPS) estimates for Royal Gold in a research report issued on Thursday, April 18th. National Bank Financial analyst S. Nagle now expects that the basic materials company will earn $0.98 per share for the quarter, up from their previous forecast of $0.87. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for Royal Gold’s current full-year earnings is $4.32 per share.

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

Royal Gold Stock Up 0.9 %

Shares of Royal Gold stock opened at $122.73 on Monday. The stock has a 50-day moving average price of $113.73 and a 200 day moving average price of $114.43. The company has a market cap of $8.07 billion, a P/E ratio of 33.72, a P/E/G ratio of 6.32 and a beta of 0.87. The company has a current ratio of 2.31, a quick ratio of 2.18 and a debt-to-equity ratio of 0.08. Royal Gold has a 1 year low of $100.55 and a 1 year high of $147.82.

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

Royal Gold Dividend Announcement

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

Insider Activity

In other news, SVP Randy Shefman sold 500 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $113.00, for a total transaction of $56,500.00. Following the transaction, the senior vice president now owns 12,127 shares of the company’s stock, valued at approximately $1,370,351. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.40% of the stock is currently owned by insiders.

Institutional Trading of Royal Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Direct Indexing L.P. grew its holdings in Royal Gold by 7.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,935 shares of the basic materials company’s stock valued at $479,000 after buying an additional 284 shares during the last quarter. Norden Group LLC bought a new stake in shares of Royal Gold in the 1st quarter worth approximately $3,315,000. State of Michigan Retirement System lifted its position in shares of Royal Gold by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 16,148 shares of the basic materials company’s stock worth $1,967,000 after acquiring an additional 400 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Royal Gold by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,742 shares of the basic materials company’s stock worth $578,000 after acquiring an additional 191 shares during the period. Finally, Janiczek Wealth Management LLC lifted its position in shares of Royal Gold by 321.8% in the 1st quarter. Janiczek Wealth Management LLC now owns 426 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 325 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

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.