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

Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL - Raymond James boosted their Q1 2024 EPS estimates for shares of Royal Gold in a report released on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $0.91 per share for the quarter, up from their prior forecast of $0.90. The consensus estimate for Royal Gold's current full-year earnings is $4.35 per share.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its earnings results on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.20. The firm had revenue of $152.70 million during the quarter, compared to analyst estimates of $140.32 million. Royal Gold had a net margin of 39.53% and a return on equity of 8.18%. Royal Gold's revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS.

A number of other analysts have also weighed in on the stock. Cantor Fitzgerald lowered shares of Royal Gold from an "overweight" rating to a "neutral" rating in a research note on Thursday, February 15th. National Bank Financial raised shares of Royal Gold from a "sector perform" rating to an "outperform" rating in a research note on Thursday, February 15th. 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 note on Wednesday, March 27th. Finally, Jefferies Financial Group assumed coverage on shares of Royal Gold in a research note on Thursday, February 29th. They set a "hold" rating and a $117.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $143.25.

Royal Gold Price Performance

Shares of NASDAQ:RGLD traded up $3.26 during trading on Thursday, reaching $124.19. The company had a trading volume of 401,352 shares, compared to its average volume of 434,557. The firm's fifty day moving average is $114.42 and its 200 day moving average is $114.70. The firm has a market capitalization of $8.16 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 6.91 and a beta of 0.87. Royal Gold has a twelve month low of $100.55 and a twelve month 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.

Institutional Trading of Royal Gold

Several large investors have recently modified their holdings of RGLD. River Road Asset Management LLC boosted its holdings in Royal Gold by 19.4% in 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 period. Louisiana State Employees Retirement System bought a new stake in Royal Gold in the 4th quarter valued at $2,238,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Royal Gold in the 3rd quarter valued at $1,138,000. American Century Companies Inc. boosted its holdings in Royal Gold by 28.0% in 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 purchasing an additional 51,795 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Royal Gold by 0.3% in 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 purchasing an additional 125 shares during the period. 83.65% of the stock is owned by institutional investors.

Insider Transactions at Royal Gold

In other news, VP Randy Shefman sold 500 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $104.18, for a total transaction of $52,090.00. Following the transaction, the vice president now owns 9,473 shares in the company, valued at approximately $986,897.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.52% of the stock is currently owned by company insiders.

Royal Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, April 4th. This represents a $1.60 annualized dividend and a dividend yield of 1.29%. Royal Gold's dividend payout ratio (DPR) is 43.96%.

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.