Raymond James Weighs in on Royal Gold, Inc.’s Q1 2024 Earnings (NASDAQ:RGLD)

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Research analysts at Raymond James increased their Q1 2024 earnings estimates for shares of Royal Gold in a note issued to investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the basic materials company will earn $0.91 per share for the quarter, up from their prior estimate of $0.90. The consensus estimate for Royal Gold’s current full-year earnings is $4.35 per share.

A number of other research firms also recently weighed in on RGLD. 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. Cantor Fitzgerald downgraded shares of Royal Gold from an “overweight” rating to a “neutral” rating in a research report on Thursday, February 15th. National Bank Financial raised shares of Royal Gold from a “sector perform” rating to an “outperform” rating in a research report on Thursday, February 15th. Finally, Jefferies Financial Group started coverage on shares of Royal Gold in a research report on Thursday, February 29th. They set a “hold” rating and a $117.00 target price for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Royal Gold currently has an average rating of “Hold” and a consensus price target of $143.25.

Royal Gold Trading Up 0.4 %

Shares of RGLD stock opened at $120.93 on Thursday. Royal Gold has a 52-week low of $100.55 and a 52-week high of $147.82. 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 50-day simple moving average of $114.15 and a two-hundred day simple moving average of $114.65. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 6.91 and a beta of 0.87.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data 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. Royal Gold had a net margin of 39.53% and a return on equity of 8.18%. The business had revenue of $152.70 million during the quarter, compared to the consensus estimate of $140.32 million. During the same period in the prior year, the firm posted $0.91 EPS. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year.

Royal Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Thursday, April 4th. Royal Gold’s payout ratio is currently 43.96%.

Insider Activity at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $113.00, for a total transaction of $56,500.00. Following the sale, the senior vice president now directly owns 12,127 shares in the company, valued at approximately $1,370,351. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Royal Gold

A number of institutional investors have recently modified their holdings of the business. Commerce Bank boosted its holdings in Royal Gold by 4.3% in the 4th quarter. Commerce Bank now owns 2,356 shares of the basic materials company’s stock valued at $285,000 after purchasing an additional 98 shares during the period. Dana Investment Advisors Inc. boosted its holdings in Royal Gold by 0.5% in the 4th quarter. Dana Investment Advisors Inc. now owns 23,255 shares of the basic materials company’s stock valued at $2,813,000 after purchasing an additional 110 shares during the period. Birch Capital Management LLC boosted its holdings in Royal Gold by 16.5% in the 1st quarter. Birch Capital Management LLC now owns 799 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 113 shares during the period. Private Advisor Group LLC boosted its holdings in Royal Gold by 3.1% in the 3rd quarter. Private Advisor Group LLC now owns 3,835 shares of the basic materials company’s stock valued at $408,000 after purchasing an additional 115 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in Royal Gold by 31.3% in the 4th quarter. Quadrant Capital Group LLC now owns 487 shares of the basic materials company’s stock valued at $59,000 after purchasing an additional 116 shares during the period. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

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.