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

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Research analysts at Raymond James upped their Q1 2024 EPS estimates for 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 of $0.91 per share 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.

Other research analysts have also issued reports about the company. Cantor Fitzgerald lowered Royal Gold from an “overweight” rating to a “neutral” rating in a report on Thursday, February 15th. 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. National Bank Financial raised Royal Gold from a “sector perform” rating to an “outperform” rating in a research note on Thursday, February 15th. Finally, BMO Capital Markets raised Royal Gold from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $148.00 to $158.00 in a research note on Wednesday, March 27th. One 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’s stock. According to data from MarketBeat, Royal Gold currently has a consensus rating of “Hold” and an average price target of $143.25.

Royal Gold Price Performance

NASDAQ:RGLD opened at $124.58 on Thursday. The business’s 50-day moving average price is $114.71 and its 200 day moving average price is $114.76. The firm has a market cap of $8.19 billion, a P/E ratio of 34.23, a PEG ratio of 7.21 and a beta of 0.87. Royal Gold has a 52-week low of $100.55 and a 52-week 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 (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.20. The firm had revenue of $152.70 million for the quarter, compared to analyst estimates 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 was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share.

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 paid 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 dividend payout ratio (DPR) is presently 43.96%.

Insider Buying and Selling at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $113.00, for a total transaction of $56,500.00. Following the transaction, the senior vice president now owns 12,127 shares of the company’s stock, valued at approximately $1,370,351. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Royal Gold

Several institutional investors have recently made changes to their positions in RGLD. Rakuten Securities Inc. acquired a new stake in shares of Royal Gold during the 4th quarter valued at about $27,000. Larson Financial Group LLC lifted its holdings in shares of Royal Gold by 526.3% during the 4th quarter. Larson Financial Group LLC now owns 238 shares of the basic materials company’s stock valued at $29,000 after buying an additional 200 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Royal Gold during the 4th quarter valued at about $31,000. BKM Wealth Management LLC acquired a new stake in shares of Royal Gold during the 4th quarter valued at about $36,000. Finally, Lindbrook Capital LLC lifted its holdings in shares of Royal Gold by 414.9% during the 4th quarter. Lindbrook Capital LLC now owns 381 shares of the basic materials company’s stock valued at $46,000 after buying an additional 307 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

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.