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

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Equities researchers at Raymond James raised their Q1 2024 earnings estimates for shares of Royal Gold in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings per share of $0.91 for the quarter, up from their prior 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 released its quarterly earnings results on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.20. Royal Gold had a net margin of 39.53% and a return on equity of 8.18%. The business had revenue of $152.70 million for the quarter, compared to analysts’ expectations of $140.32 million. During the same period last year, the business earned $0.91 EPS. The company’s revenue was down 6.3% compared to the same quarter last year.

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

Royal Gold Stock Up 0.4 %

NASDAQ:RGLD opened at $120.93 on Thursday. Royal Gold has a fifty-two week low of $100.55 and a fifty-two week high of $147.82. The stock has a market capitalization of $7.95 billion, a P/E ratio of 33.22, a P/E/G ratio of 6.91 and a beta of 0.87. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.18 and a current ratio of 2.31. The company’s 50-day simple moving average is $114.15 and its 200-day simple moving average is $114.65.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Capital World Investors boosted its position in shares of Royal Gold by 0.6% during the 4th quarter. Capital World Investors now owns 8,169,223 shares of the basic materials company’s stock valued at $988,149,000 after acquiring an additional 47,807 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Royal Gold by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,643,568 shares of the basic materials company’s stock valued at $803,606,000 after acquiring an additional 22,921 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Royal Gold by 0.5% during the 4th quarter. Van ECK Associates Corp now owns 4,303,377 shares of the basic materials company’s stock valued at $520,536,000 after acquiring an additional 22,701 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of Royal Gold by 1.0% during the 4th quarter. First Eagle Investment Management LLC now owns 3,667,169 shares of the basic materials company’s stock valued at $443,581,000 after acquiring an additional 37,885 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Royal Gold by 0.5% during the 3rd quarter. Northern Trust Corp now owns 699,138 shares of the basic materials company’s stock valued at $74,339,000 after acquiring an additional 3,541 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Insider Transactions at Royal Gold

In other news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction 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 owns 12,127 shares of the company’s stock, valued at $1,370,351. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.52% of the company’s stock.

Royal Gold Announces Dividend

The firm also recently announced 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 1.32%. The ex-dividend date of this dividend was Thursday, April 4th. Royal Gold’s payout ratio 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.