Royal Gold, Inc. to Post Q2 2024 Earnings of $1.11 Per Share, Raymond James Forecasts (NASDAQ:RGLD)

Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL - Investment analysts at Raymond James boosted their Q2 2024 EPS estimates for shares of Royal Gold in a research note issued 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 prior forecast 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 - Get Free Report) TSE: RGL last released its earnings results on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.20. The business had revenue of $152.70 million for the quarter, compared to the consensus estimate of $140.32 million. Royal Gold had a return on equity of 8.18% and a net margin of 39.53%. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.91 earnings per share.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets upgraded shares of Royal Gold from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $148.00 to $158.00 in a research note on Wednesday, March 27th. Cantor Fitzgerald lowered shares of Royal Gold from an "overweight" rating to a "neutral" rating in a research report on Thursday, February 15th. Jefferies Financial Group began coverage on shares of Royal Gold in a research note on Thursday, February 29th. They set a "hold" rating and a $117.00 price target for the company. Finally, National Bank Financial raised Royal Gold from a "sector perform" rating to an "outperform" rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $143.25.

Royal Gold Stock Performance

Shares of NASDAQ:RGLD traded up $0.39 during trading on Friday, hitting $124.58. 379,524 shares of the stock were exchanged, compared to its average volume of 433,877. The company's fifty day simple moving average is $114.71 and its 200-day simple moving average is $114.76. 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 market capitalization of $8.19 billion, a price-to-earnings ratio of 34.23, a price-to-earnings-growth ratio of 7.21 and a beta of 0.87. Royal Gold has a 1-year low of $100.55 and a 1-year high of $147.82.

Royal Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors 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 1.28%. The ex-dividend date was Thursday, April 4th. Royal Gold's dividend payout ratio is currently 43.96%.

Insider Buying and Selling

In other news, VP Randy Shefman sold 500 shares of the company's stock in a transaction on Thursday, February 22nd. The stock was 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 of the company's stock, valued at $986,897.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RGLD. Norges Bank acquired a new position in Royal Gold during the fourth quarter valued at approximately $33,696,000. International Assets Investment Management LLC grew its holdings in shares of Royal Gold by 12,032.4% in the 4th quarter. International Assets Investment Management LLC now owns 183,685 shares of the basic materials company's stock valued at $22,219,000 after buying an additional 182,171 shares during the period. Global Assets Advisory LLC bought a new stake in shares of Royal Gold in the 1st quarter valued at $20,675,000. Barlow Wealth Partners Inc. acquired a new stake in Royal Gold during the 4th quarter worth $12,733,000. Finally, Kopernik Global Investors LLC lifted its holdings in Royal Gold by 12.3% during the fourth quarter. Kopernik Global Investors LLC now owns 671,723 shares of the basic materials company's stock worth $81,252,000 after acquiring an additional 73,642 shares in the last quarter. 83.65% of the stock is currently owned by 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.