Research Analysts Offer Predictions for Royal Gold, Inc.’s Q2 2024 Earnings (NASDAQ:RGLD)

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Raymond James lifted their Q2 2024 earnings per share estimates for Royal Gold in a report released on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $1.11 per share for the quarter, up from their previous estimate of $0.88. The consensus estimate for Royal Gold’s current full-year earnings is $4.18 per share. Raymond James also issued estimates for Royal Gold’s Q3 2024 earnings at $1.21 EPS, Q4 2024 earnings at $1.25 EPS and FY2024 earnings at $4.48 EPS.

Several other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald cut Royal Gold from an “overweight” rating to a “neutral” rating in a research note on Thursday, February 15th. National Bank Financial upgraded shares of Royal Gold from a “sector perform” rating to an “outperform” rating in a research report on Thursday, February 15th. BMO Capital Markets raised shares of Royal Gold from a “market perform” rating to an “outperform” rating and increased their target price for the company from $148.00 to $158.00 in a research report on Wednesday, March 27th. Finally, Jefferies Financial Group assumed coverage on Royal Gold in a research note on Thursday, February 29th. They set a “hold” rating and a $117.00 price target on the stock. One equities research 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. According to MarketBeat, Royal Gold presently has an average rating of “Hold” and a consensus target price of $143.25.

Royal Gold Stock Performance

Shares of Royal Gold stock opened at $124.58 on Friday. 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 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’s 50 day moving average price is $114.71 and its 200 day moving average price is $114.76. Royal Gold has a one year low of $100.55 and a one year high of $147.82.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.20. The company had revenue of $152.70 million during the quarter, compared to analysts’ expectations of $140.32 million. Royal Gold had a net margin of 39.53% and a return on equity of 8.18%. Royal Gold’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 EPS.

Institutional Investors Weigh In On Royal Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of RGLD. Capital World Investors grew its stake in Royal Gold by 0.6% in 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. increased its stake 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 lifted its holdings 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 worth $520,536,000 after acquiring an additional 22,701 shares during the period. First Eagle Investment Management LLC boosted its position 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 worth $443,581,000 after acquiring an additional 37,885 shares during the last quarter. Finally, Northern Trust Corp increased its position in Royal Gold by 0.5% during the third 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.

Insiders Place Their Bets

In other Royal Gold 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 value 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is owned by insiders.

Royal Gold Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Thursday, April 4th. This represents a $1.60 dividend on an annualized basis 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.