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

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – National Bank Financial boosted their Q1 2024 earnings per share estimates for Royal Gold in a report issued on Thursday, April 18th. National Bank Financial analyst S. Nagle now expects that the basic materials company will post earnings of $0.98 per share for the quarter, up from their prior 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.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released 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 firm had revenue of $152.70 million for the quarter, compared to analysts’ expectations of $140.32 million. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS.

Several other equities research analysts have also issued reports on the stock. Cantor Fitzgerald lowered shares of Royal Gold from an “overweight” rating to a “neutral” rating in a research note on Thursday, February 15th. BMO Capital Markets upgraded 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 report on Wednesday, March 27th. Finally, Jefferies Financial Group initiated coverage on Royal Gold in a report on Thursday, February 29th. They set a “hold” rating and a $117.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Royal Gold currently has a consensus rating of “Hold” and an average target price of $143.25.

Royal Gold Stock Performance

Shares of RGLD stock opened at $118.82 on Monday. Royal Gold has a 12 month low of $100.55 and a 12 month high of $147.82. The company’s fifty day simple moving average is $113.87 and its 200-day simple moving average is $114.54. The firm has a market cap of $7.81 billion, a PE ratio of 32.64, a P/E/G ratio of 6.32 and a beta of 0.87. 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

Several large investors have recently modified their holdings of RGLD. CWM LLC boosted its stake in Royal Gold by 44.0% in the 3rd quarter. CWM LLC now owns 2,189 shares of the basic materials company’s stock valued at $233,000 after purchasing an additional 669 shares during the period. SG Americas Securities LLC grew its stake in shares of Royal Gold by 43.6% in the third quarter. SG Americas Securities LLC now owns 18,867 shares of the basic materials company’s stock valued at $2,006,000 after acquiring an additional 5,731 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Royal Gold by 5.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,284 shares of the basic materials company’s stock worth $562,000 after purchasing an additional 258 shares in the last quarter. Artemis Wealth Advisors LLC bought a new stake in Royal Gold in the 3rd quarter valued at about $36,000. Finally, Aaron Wealth Advisors LLC grew its position in shares of Royal Gold by 0.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 46,953 shares of the basic materials company’s stock worth $4,993,000 after purchasing an additional 279 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $113.00, for a total value of $56,500.00. Following the sale, the senior vice president now owns 12,127 shares in the company, valued at approximately $1,370,351. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Thursday, April 4th. Royal Gold’s dividend payout ratio (DPR) 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.