Royal Gold, Inc. (NASDAQ:RGLD) Forecasted to Post Q1 2024 Earnings of $0.90 Per Share

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Investment analysts at Raymond James lifted their Q1 2024 earnings estimates for Royal Gold in a report released on Wednesday, April 17th. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings per share of $0.90 for the quarter, up from their previous forecast of $0.88. The consensus estimate for Royal Gold’s current full-year earnings is $4.32 per share.

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

Royal Gold Trading Down 3.2 %

NASDAQ RGLD opened at $118.82 on Monday. The company has a market capitalization of $7.81 billion, a PE ratio of 32.64, a price-to-earnings-growth ratio of 6.32 and a beta of 0.87. Royal Gold has a 1-year low of $100.55 and a 1-year high of $147.82. The company has a current ratio of 2.31, a quick ratio of 2.18 and a debt-to-equity ratio of 0.08. The firm’s fifty day simple moving average is $113.87 and its 200-day simple moving average is $114.54.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued 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. The business had revenue of $152.70 million for the quarter, compared to the consensus estimate of $140.32 million. Royal Gold had a return on equity of 8.18% and a net margin of 39.53%. Royal Gold’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share.

Institutional Trading of Royal Gold

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

Insider Buying and Selling

In other news, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $113.00, for a total transaction of $56,500.00. Following the sale, 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 Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is owned by company insiders.

Royal Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Thursday, April 4th. Royal Gold’s payout ratio is presently 43.96%.

About Royal Gold

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.