Royal Gold (NASDAQ:RGLD) Issues Earnings Results, Beats Expectations By $0.03 EPS

Key Points

• Royal Gold reported quarterly EPS of $2.80, beating analyst expectations of $2.77 by $0.03; net margin was 47.74%.
• The shares rose $15.16 to $246.08 in Wednesday midday trading. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $309.56.
• The company paid a quarterly dividend of $0.475 per share, equivalent to $1.90 annually and a 0.8% yield.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL issued its earnings results on Wednesday. The basic materials company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.03, FiscalAI reports. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%.

Royal Gold Price Performance

RGLD traded up $15.16 during midday trading on Wednesday, reaching $246.08. 750,457 shares of the company's stock were exchanged, compared to its average volume of 829,550. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68. The stock has a market capitalization of $20.85 billion, a PE ratio of 26.86, a P/E/G ratio of 1.71 and a beta of 0.46. The business's 50-day moving average price is $244.96 and its 200 day moving average price is $241.30. Royal Gold has a 1-year low of $169.54 and a 1-year high of $306.25.

Royal Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were given a dividend of $0.4750 per share. The ex-dividend date was Friday, October 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.8%. Royal Gold's payout ratio is presently 20.74%.

Insider Activity

In other news, SVP Randy Shefman sold 500 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $262.80, for a total value of $131,400.00. Following the sale, the senior vice president directly owned 8,082 shares in the company, valued at $2,123,949.60. This represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RGLD has been the subject of a number of research reports. TD reduced their price target on shares of Royal Gold from $315.00 to $311.00 and set a "buy" rating for the company in a research report on Tuesday, October 20th. Weiss Ratings upgraded Royal Gold from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 9th. UBS Group upped their price target on Royal Gold from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Zacks Research raised Royal Gold from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $310.00 price objective on shares of Royal Gold in a report on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $309.56.

About Royal Gold

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. The company provides financing to mining companies in exchange for the right to purchase a portion of the gold, silver, copper, or other metals produced from their mines, typically at predetermined prices. It also holds royalty interests that entitle it to a percentage of revenue or production from mining operations without directly operating the mines.

Royal Gold's business is focused on acquiring and managing a diversified portfolio of streaming and royalty interests.

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