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

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Analysts at Raymond James decreased their Q2 2024 earnings estimates for shares of Royal Gold in a report issued 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) (TSE:RGL) last announced its earnings results on Wednesday, February 14th. The basic materials company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.75 by $0.20. Royal Gold had a net margin of 39.53% and a return on equity of 8.18%. The company had revenue of $152.70 million during the quarter, compared to analysts’ expectations of $140.32 million. During the same period last year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis.

Other analysts have also issued reports about the stock. 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 started coverage on shares of Royal Gold in a research report on Thursday, February 29th. They issued a “hold” rating and a $117.00 price target for the company. BMO Capital Markets raised shares of Royal Gold from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $148.00 to $158.00 in a research report on Wednesday, March 27th. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $143.25.

Royal Gold Stock Performance

Shares of RGLD opened at $121.66 on Friday. Royal Gold has a one year low of $100.55 and a one year high of $147.82. The company has a 50-day moving average of $113.51 and a two-hundred day moving average of $114.14. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 6.30 and a beta of 0.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.31 and a quick ratio of 2.18.

Institutional Investors Weigh In On Royal Gold

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Royal Gold during the fourth quarter worth $239,552,000. State Street Corp boosted its stake in Royal Gold by 66.2% during the first quarter. State Street Corp now owns 4,153,139 shares of the basic materials company’s stock worth $588,192,000 after buying an additional 1,654,360 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in Royal Gold during the first quarter worth $56,762,000. Price T Rowe Associates Inc. MD boosted its stake in Royal Gold by 65.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 612,166 shares of the basic materials company’s stock worth $79,406,000 after buying an additional 242,641 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in Royal Gold during the first quarter worth $29,022,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Insider Transactions at Royal Gold

In other news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were 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 in the company, valued at $1,370,351. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, April 5th will be paid a $0.40 dividend. The ex-dividend date is Thursday, April 4th. This represents a $1.60 annualized dividend and a dividend yield of 1.32%. Royal Gold’s payout ratio is 43.96%.

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.