Q2 2024 Earnings Estimate for Royal Gold, Inc. (NASDAQ:RGLD) Issued By Raymond James

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Research analysts at Raymond James raised their Q2 2024 earnings per share (EPS) estimates for shares of Royal Gold in a note issued to investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the basic materials company will earn $1.11 per share for the quarter, up from their previous 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) (TSE:RGL) last issued its quarterly earnings results on Wednesday, February 14th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.20. The company had revenue of $152.70 million during the quarter, compared to analyst estimates of $140.32 million. Royal Gold had a return on equity of 8.18% and a net margin of 39.53%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share.

Other 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 boosted their price objective for the stock from $148.00 to $158.00 in a report on Wednesday, March 27th. Cantor Fitzgerald downgraded Royal Gold from an “overweight” rating to a “neutral” rating in a research report on Thursday, February 15th. National Bank Financial raised Royal Gold from a “sector perform” rating to an “outperform” rating in a report on Thursday, February 15th. Finally, Jefferies Financial Group began coverage on Royal Gold in a report on Thursday, February 29th. They set a “hold” rating and a $117.00 price objective on the stock. 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 company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $143.25.

Royal Gold Price Performance

NASDAQ:RGLD opened at $124.58 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.31 and a quick ratio of 2.18. Royal Gold has a one year low of $100.55 and a one year high of $147.82. The company has a fifty day moving average price of $114.71 and a 200 day moving average price of $114.76. The stock has a market cap of $8.19 billion, a P/E ratio of 34.23, a PEG ratio of 7.21 and a beta of 0.87.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. CWM LLC lifted its position in Royal Gold by 44.0% during the 3rd quarter. CWM LLC now owns 2,189 shares of the basic materials company’s stock valued at $233,000 after purchasing an additional 669 shares during the period. SG Americas Securities LLC lifted its stake in shares of Royal Gold by 43.6% in the 3rd quarter. SG Americas Securities LLC now owns 18,867 shares of the basic materials company’s stock valued at $2,006,000 after purchasing an additional 5,731 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Royal Gold by 5.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,284 shares of the basic materials company’s stock worth $562,000 after purchasing an additional 258 shares during the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of Royal Gold by 0.6% during the third quarter. Aaron Wealth Advisors LLC now owns 46,953 shares of the basic materials company’s stock worth $4,993,000 after purchasing an additional 279 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in Royal Gold by 19.6% in the third quarter. Handelsbanken Fonder AB now owns 11,602 shares of the basic materials company’s stock valued at $1,234,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Insider Buying and Selling

In other news, VP Randy Shefman sold 500 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 9,473 shares of the company’s stock, valued at $986,897.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is owned by corporate insiders.

Royal Gold Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.28%. Royal Gold’s dividend payout ratio 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.