Royal Gold, Inc. (NASDAQ:RGLD) to Post Q2 2024 Earnings of $0.88 Per Share, Raymond James Forecasts

Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL - Analysts at Raymond James reduced their Q2 2024 earnings per share estimates for Royal Gold in a report released on Wednesday, April 17th. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings per share of $0.88 for the quarter, down from their previous estimate of $0.93. The consensus estimate for Royal Gold's current full-year earnings is $4.34 per share. Raymond James also issued estimates for Royal Gold's Q3 2024 earnings at $0.98 EPS, Q4 2024 earnings at $1.01 EPS and FY2024 earnings at $3.78 EPS.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its 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. The business had revenue of $152.70 million for the quarter, compared to analysts' expectations of $140.32 million. Royal Gold had a return on equity of 8.18% and a net margin of 39.53%. The business's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the firm posted $0.91 earnings per share.

RGLD has been the topic of a number of other reports. BMO Capital Markets raised Royal Gold from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $148.00 to $158.00 in a research report on Wednesday, March 27th. National Bank Financial raised Royal Gold from a "sector perform" rating to an "outperform" rating in a research report on Thursday, February 15th. Jefferies Financial Group began coverage on Royal Gold in a research report on Thursday, February 29th. They set a "hold" rating and a $117.00 price objective on the stock. Finally, Cantor Fitzgerald cut Royal Gold from an "overweight" rating to a "neutral" rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $143.25.

Royal Gold Stock Performance

NASDAQ:RGLD traded up $1.07 on Friday, hitting $122.73. The stock had a trading volume of 463,651 shares, compared to its average volume of 432,176. Royal Gold has a 52-week low of $100.55 and a 52-week high of $147.82. The company has a quick ratio of 2.18, a current ratio of 2.31 and a debt-to-equity ratio of 0.08. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 33.72, a price-to-earnings-growth ratio of 6.30 and a beta of 0.87. The business's 50-day simple moving average is $113.73 and its two-hundred day simple moving average is $114.28.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, April 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $1.60 dividend on an annualized basis and a yield of 1.30%. Royal Gold's dividend payout ratio is presently 43.96%.

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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company's stock.

Institutional Trading of Royal Gold

A number of large investors have recently added to or reduced their stakes in the company. River Road Asset Management LLC increased its position in shares of Royal Gold by 19.4% during the 4th quarter. River Road Asset Management LLC now owns 52,578 shares of the basic materials company's stock valued at $6,360,000 after purchasing an additional 8,550 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Royal Gold during the 4th quarter valued at $2,238,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Royal Gold during the 3rd quarter valued at $1,138,000. American Century Companies Inc. boosted its holdings in Royal Gold by 28.0% during the 3rd quarter. American Century Companies Inc. now owns 236,621 shares of the basic materials company's stock valued at $25,160,000 after acquiring an additional 51,795 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Royal Gold by 0.3% during the 3rd quarter. Wellington Management Group LLP now owns 45,382 shares of the basic materials company's stock valued at $4,825,000 after acquiring an additional 125 shares during the period. Institutional investors own 83.65% of the company's stock.

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.