FY2024 EPS Estimates for Royal Gold Lowered by Analyst

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Research analysts at National Bank Financial cut their FY2024 earnings estimates for shares of Royal Gold in a note issued to investors on Monday, February 10th. National Bank Financial analyst S. Nagle now expects that the basic materials company will earn $5.22 per share for the year, down from their prior estimate of $5.49. The consensus estimate for Royal Gold’s current full-year earnings is $5.16 per share. National Bank Financial also issued estimates for Royal Gold’s Q4 2024 earnings at $1.58 EPS.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.17. Royal Gold had a net margin of 42.93% and a return on equity of 10.18%.

A number of other research analysts have also weighed in on RGLD. TD Securities lifted their price objective on shares of Royal Gold from $181.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Raymond James boosted their price objective on Royal Gold from $184.00 to $186.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group upgraded Royal Gold from a “hold” rating to a “buy” rating and upped their price target for the company from $154.00 to $178.00 in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $168.86.

Royal Gold Stock Performance

RGLD stock opened at $147.19 on Thursday. The stock has a fifty day moving average of $139.37 and a 200-day moving average of $141.00. Royal Gold has a fifty-two week low of $100.55 and a fifty-two week high of $155.10. The company has a market capitalization of $9.68 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 0.87 and a beta of 0.90.

Institutional Investors Weigh In On Royal Gold

Several hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in shares of Royal Gold by 9.7% during the 4th quarter. Wells Fargo & Company MN now owns 25,975 shares of the basic materials company’s stock valued at $3,425,000 after buying an additional 2,287 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in Royal Gold during the fourth quarter valued at approximately $1,577,000. Orion Investment Co raised its stake in shares of Royal Gold by 64.4% during the fourth quarter. Orion Investment Co now owns 21,516 shares of the basic materials company’s stock worth $2,837,000 after acquiring an additional 8,431 shares in the last quarter. Prudential PLC lifted its holdings in shares of Royal Gold by 42.5% in the 4th quarter. Prudential PLC now owns 36,988 shares of the basic materials company’s stock worth $4,877,000 after acquiring an additional 11,023 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Royal Gold in the 4th quarter worth approximately $2,918,000. Institutional investors own 83.65% of the company’s stock.

Insider Activity

In related news, SVP Daniel Breeze sold 549 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $150.00, for a total value of $82,350.00. Following the transaction, the senior vice president now owns 16,293 shares of the company’s stock, valued at $2,443,950. This represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Royal Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were issued a $0.45 dividend. This is a positive change from Royal Gold’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.22%. Royal Gold’s dividend payout ratio is presently 41.28%.

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.