Raymond James Research Analysts Increase Earnings Estimates for Royal Gold, Inc. (NASDAQ:RGLD)

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Equities researchers at Raymond James increased 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 per share of $0.91 for the quarter, up from their prior forecast of $0.90. The consensus estimate for Royal Gold’s current full-year earnings is $4.18 per share.

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

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

Royal Gold Stock Performance

RGLD opened at $124.58 on Thursday. Royal Gold has a 12-month low of $100.55 and a 12-month high of $147.82. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of 34.23, a PEG ratio of 7.21 and a beta of 0.87. The business has a 50 day moving average of $114.71 and a 200-day moving average of $114.76. The company has a quick ratio of 2.18, a current ratio of 2.31 and a debt-to-equity ratio of 0.08.

Hedge Funds Weigh In On Royal Gold

Hedge funds have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. bought a new position in Royal Gold during the 4th quarter worth $27,000. Larson Financial Group LLC increased its stake in Royal Gold by 526.3% during the 4th quarter. Larson Financial Group LLC now owns 238 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 200 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in Royal Gold during the 4th quarter worth $31,000. BKM Wealth Management LLC bought a new position in Royal Gold during the 4th quarter worth $36,000. Finally, Lindbrook Capital LLC increased its stake in Royal Gold by 414.9% during the 4th quarter. Lindbrook Capital LLC now owns 381 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 307 shares during the period. Institutional investors own 83.65% of the company’s stock.

Insider Buying and Selling

In related 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 completion of the sale, the senior vice president now directly owns 12,127 shares of the company’s stock, valued at approximately $1,370,351. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.52% of the stock is currently owned by insiders.

Royal Gold Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 1.28%. Royal Gold’s payout ratio is currently 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.