Raymond James Comments on Royal Gold, Inc.’s Q2 2024 Earnings (NASDAQ:RGLD)

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Research analysts at Raymond James boosted their Q2 2024 earnings per share (EPS) estimates for shares of Royal Gold in a report released on Tuesday, April 23rd. Raymond James analyst B. Macarthur now forecasts that the basic materials company will earn $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.

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 (EPS) for the quarter, topping 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 business had revenue of $152.70 million for the quarter, compared to analyst estimates of $140.32 million. During the same period last year, the company earned $0.91 EPS. Royal Gold’s revenue for the quarter was down 6.3% compared to the same quarter last year.

RGLD has been the subject of several other research reports. National Bank Financial upgraded Royal Gold from a “sector perform” rating to an “outperform” rating in a report on Thursday, February 15th. Cantor Fitzgerald cut Royal Gold from an “overweight” rating to a “neutral” rating in a report on Thursday, February 15th. Jefferies Financial Group assumed coverage on Royal Gold in a report on Thursday, February 29th. They issued a “hold” rating and a $117.00 price objective for the company. Finally, BMO Capital Markets upgraded Royal Gold from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $148.00 to $158.00 in a report on Wednesday, March 27th. One 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’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

RGLD opened at $124.19 on Friday. Royal Gold has a 1 year low of $100.55 and a 1 year high of $147.82. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.31 and a quick ratio of 2.18. The stock’s 50 day simple moving average is $114.71 and its 200 day simple moving average is $114.76. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 7.21 and a beta of 0.87.

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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, April 4th. Royal Gold’s payout ratio is 43.96%.

Insiders Place Their Bets

In other Royal Gold news, SVP Randy Shefman sold 500 shares of Royal Gold 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 completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Royal Gold

Large investors have recently modified their holdings of the company. Rakuten Securities Inc. bought a new stake in shares of Royal Gold in the fourth quarter worth $27,000. Larson Financial Group LLC lifted its position in shares of Royal Gold by 526.3% in the fourth quarter. Larson Financial Group LLC now owns 238 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Royal Gold in the fourth quarter valued at about $31,000. BKM Wealth Management LLC purchased a new position in shares of Royal Gold in the fourth quarter valued at about $36,000. Finally, Lindbrook Capital LLC lifted its position in shares of Royal Gold by 414.9% in the fourth quarter. Lindbrook Capital LLC now owns 381 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 307 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

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.