National Bank Financial Analysts Boost Earnings Estimates for Royal Gold, Inc. (NASDAQ:RGLD)

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Analysts at National Bank Financial boosted their Q1 2024 EPS estimates for Royal Gold in a note issued to investors on Thursday, April 18th. National Bank Financial analyst S. Nagle now anticipates that the basic materials company will earn $0.98 per share for the quarter, up from their prior estimate of $0.87. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for Royal Gold’s current full-year earnings is $4.32 per share.

A number of other equities research analysts also recently commented on RGLD. Jefferies Financial Group assumed coverage on shares of Royal Gold in a research report on Thursday, February 29th. They issued a “hold” rating and a $117.00 target price for the company. 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. Finally, Cantor Fitzgerald cut shares of Royal Gold from an “overweight” rating to a “neutral” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $143.25.

Royal Gold Price Performance

Shares of RGLD opened at $122.73 on Monday. The company has a quick ratio of 2.18, a current ratio of 2.31 and a debt-to-equity ratio of 0.08. Royal Gold has a twelve month low of $100.55 and a twelve month high of $147.82. The company has a market capitalization of $8.07 billion, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 6.32 and a beta of 0.87. The firm has a 50 day moving average of $113.73 and a 200 day moving average of $114.43.

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

Hedge Funds Weigh In On Royal Gold

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Royal Gold in the 4th quarter worth approximately $239,552,000. State Street Corp lifted its position in shares of Royal Gold by 66.2% in the 1st quarter. State Street Corp now owns 4,153,139 shares of the basic materials company’s stock worth $588,192,000 after purchasing an additional 1,654,360 shares during the period. Clearbridge Investments LLC purchased a new stake in shares of Royal Gold in the 1st quarter worth approximately $56,762,000. Price T Rowe Associates Inc. MD lifted its position in shares of Royal Gold by 65.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 612,166 shares of the basic materials company’s stock worth $79,406,000 after purchasing an additional 242,641 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in Royal Gold during the first quarter valued at approximately $29,022,000. 83.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Royal Gold

In other news, SVP Randy Shefman sold 500 shares of the business’s stock in a transaction dated 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 directly owns 12,127 shares in the company, valued at approximately $1,370,351. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.40% of the stock is currently owned by insiders.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was 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 currently 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.