Equities Analysts Offer Predictions for Royal Gold, Inc.’s Q1 2024 Earnings (NASDAQ:RGLD)

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Equities research analysts at Raymond James lifted their Q1 2024 earnings per share estimates for Royal Gold in a research note issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now forecasts 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.

Several other equities research analysts also recently issued reports on the company. BMO Capital Markets raised Royal Gold from a “market perform” rating to an “outperform” rating and raised their price target for the company from $148.00 to $158.00 in a research report on Wednesday, March 27th. Cantor Fitzgerald lowered shares of Royal Gold from an “overweight” rating to a “neutral” rating in a report 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. 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 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $143.25.

Royal Gold Price Performance

RGLD opened at $124.19 on Thursday. Royal Gold has a 12-month low of $100.55 and a 12-month 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 firm has a market capitalization of $8.16 billion, a P/E ratio of 33.76, a PEG ratio of 6.91 and a beta of 0.87. The stock has a fifty day moving average of $114.42 and a 200-day moving average of $114.70.

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

Institutional Investors Weigh In On Royal Gold

Institutional investors have recently added to or reduced their stakes in the company. Capital World Investors raised its holdings in Royal Gold by 0.6% in the 4th quarter. Capital World Investors now owns 8,169,223 shares of the basic materials company’s stock worth $988,149,000 after purchasing an additional 47,807 shares in the last quarter. Vanguard Group Inc. increased its stake in Royal Gold by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,643,568 shares of the basic materials company’s stock valued at $803,606,000 after purchasing an additional 22,921 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Royal Gold by 0.5% during the 4th quarter. Van ECK Associates Corp now owns 4,303,377 shares of the basic materials company’s stock valued at $520,536,000 after acquiring an additional 22,701 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Royal Gold by 1.0% during the 4th quarter. First Eagle Investment Management LLC now owns 3,667,169 shares of the basic materials company’s stock valued at $443,581,000 after acquiring an additional 37,885 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Royal Gold by 0.5% during the 3rd quarter. Northern Trust Corp now owns 699,138 shares of the basic materials company’s stock valued at $74,339,000 after acquiring an additional 3,541 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Insider Activity

In other news, SVP Randy Shefman sold 500 shares of the 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 transaction, the senior vice president now owns 12,127 shares of the company’s stock, valued at approximately $1,370,351. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.52% of the company’s stock.

Royal Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, April 4th. Royal Gold’s dividend payout ratio is currently 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.