Raymond James Comments on Royal Gold, Inc.’s Q1 2024 Earnings (NASDAQ:RGLD)

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Stock analysts at Raymond James upped their Q1 2024 earnings per share (EPS) estimates for Royal Gold in a research report issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $0.91 per share for the quarter, up from their previous estimate of $0.90. The consensus estimate for Royal Gold’s current full-year earnings is $4.35 per share.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share (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 firm had revenue of $152.70 million for the quarter, compared to analysts’ expectations of $140.32 million. During the same period in the previous year, the firm earned $0.91 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year.

A number of other brokerages also recently issued reports on RGLD. Cantor Fitzgerald downgraded Royal Gold from an “overweight” rating to a “neutral” rating in a report on Thursday, February 15th. National Bank Financial upgraded Royal Gold from a “sector perform” rating to an “outperform” rating in a report on Thursday, February 15th. BMO Capital Markets raised Royal Gold from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $148.00 to $158.00 in a research note on Wednesday, March 27th. Finally, Jefferies Financial Group initiated coverage on Royal Gold in a research note on Thursday, February 29th. They set a “hold” rating and a $117.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $143.25.

Royal Gold Price Performance

Shares of RGLD stock opened at $124.19 on Thursday. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 6.91 and a beta of 0.87. The business’s fifty day moving average is $114.42 and its 200 day moving average is $114.70. Royal Gold has a twelve month low of $100.55 and a twelve month high of $147.82. The company has a quick ratio of 2.18, a current ratio of 2.31 and a debt-to-equity ratio of 0.08.

Royal Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $1.60 dividend on an annualized basis and a yield of 1.29%. Royal Gold’s dividend payout ratio is currently 43.96%.

Insider Buying and Selling at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $113.00, for a total transaction of $56,500.00. Following the completion of the sale, the senior vice president now directly owns 12,127 shares in the company, valued at $1,370,351. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is owned by company insiders.

Institutional Trading of Royal Gold

Several institutional investors have recently made changes to their positions in RGLD. Norges Bank acquired a new position in Royal Gold in the fourth quarter valued at approximately $33,696,000. International Assets Investment Management LLC raised its holdings in Royal Gold by 12,032.4% in the fourth quarter. International Assets Investment Management LLC now owns 183,685 shares of the basic materials company’s stock worth $22,219,000 after purchasing an additional 182,171 shares during the period. Global Assets Advisory LLC acquired a new stake in Royal Gold in the first quarter worth $20,675,000. Barlow Wealth Partners Inc. acquired a new stake in shares of Royal Gold during the fourth quarter worth $12,733,000. Finally, Kopernik Global Investors LLC raised its holdings in shares of Royal Gold by 12.3% during the fourth quarter. Kopernik Global Investors LLC now owns 671,723 shares of the basic materials company’s stock worth $81,252,000 after acquiring an additional 73,642 shares during the period. 83.65% of the stock is currently owned by institutional investors and hedge funds.

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.