Royal Gold (NASDAQ:RGLD) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Royal Gold (NASDAQ:RGLD) (TSE:RGL) posted its quarterly earnings results on Wednesday. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.01, FiscalAI reports. Royal Gold had a return on equity of 12.63% and a net margin of 48.59%.The business had revenue of $468.98 million during the quarter, compared to analyst estimates of $458.85 million. During the same period in the prior year, the business earned $1.81 earnings per share. The business’s revenue was up 114.9% compared to the same quarter last year.

Royal Gold Stock Performance

Shares of RGLD opened at $215.43 on Thursday. The firm has a market cap of $18.28 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 1.50 and a beta of 0.44. Royal Gold has a 12-month low of $162.02 and a 12-month high of $306.25. The company’s 50 day simple moving average is $204.48 and its 200-day simple moving average is $240.22. The company has a current ratio of 3.52, a quick ratio of 3.26 and a debt-to-equity ratio of 0.08.

Royal Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Thursday, July 2nd were given a dividend of $0.475 per share. The ex-dividend date was Thursday, July 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.9%. Royal Gold’s dividend payout ratio (DPR) is 22.65%.

Insider Buying and Selling

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total value of $107,925.00. Following the sale, the senior vice president owned 8,582 shares of the company’s stock, valued at $1,852,424.70. This represents a 5.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Royal Gold

Several hedge funds have recently modified their holdings of the stock. Gen Wealth Partners Inc acquired a new position in Royal Gold in the fourth quarter valued at $27,000. Sunbelt Securities Inc. increased its position in shares of Royal Gold by 8,400.0% during the third quarter. Sunbelt Securities Inc. now owns 170 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 168 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Royal Gold by 54.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 495 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 174 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Royal Gold by 32.4% in the second quarter. Geneos Wealth Management Inc. now owns 711 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 174 shares during the period. Finally, Larson Financial Group LLC increased its holdings in shares of Royal Gold by 27.9% during the third quarter. Larson Financial Group LLC now owns 651 shares of the basic materials company’s stock valued at $131,000 after purchasing an additional 142 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on RGLD. Jefferies Financial Group reduced their target price on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Scotiabank reissued a “sector perform” rating and set a $310.00 price objective on shares of Royal Gold in a research report on Tuesday, July 14th. Weiss Ratings lowered shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Royal Bank Of Canada lowered their price objective on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Finally, National Bank Financial decreased their price target on Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $280.27.

Royal Gold Company Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.