Royal Gold, Inc. to Post Q3 2024 Earnings of $1.30 Per Share, Raymond James Forecasts (NASDAQ:RGLD)

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Investment analysts at Raymond James increased their Q3 2024 EPS estimates for shares of Royal Gold in a research note issued on Monday, September 23rd. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings per share of $1.30 for the quarter, up from their previous forecast of $1.19. Raymond James has a “Outperformer” rating and a $170.00 price objective on the stock. The consensus estimate for Royal Gold’s current full-year earnings is $4.78 per share. Raymond James also issued estimates for Royal Gold’s Q4 2024 earnings at $1.37 EPS and FY2024 earnings at $4.83 EPS.

Several other research firms have also recently issued reports on RGLD. Cibc World Mkts upgraded shares of Royal Gold to a “hold” rating in a report on Wednesday, July 10th. Jefferies Financial Group upped their price target on Royal Gold from $130.00 to $141.00 and gave the company a “hold” rating in a report on Friday, July 12th. Scotiabank upped their target price on Royal Gold from $148.00 to $157.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. CIBC raised their target price on shares of Royal Gold from $166.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, StockNews.com raised Royal Gold from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $157.00.

Royal Gold Trading Up 1.8 %

Shares of NASDAQ:RGLD opened at $146.36 on Wednesday. Royal Gold has a 52 week low of $100.55 and a 52 week high of $147.65. The firm has a market capitalization of $9.62 billion, a P/E ratio of 43.17, a PEG ratio of 1.14 and a beta of 0.90. The firm’s 50 day moving average is $137.34 and its two-hundred day moving average is $128.64.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, August 7th. The basic materials company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $174.10 million during the quarter, compared to the consensus estimate of $172.12 million. Royal Gold had a return on equity of 8.74% and a net margin of 39.15%. Royal Gold’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share.

Institutional Investors Weigh In On Royal Gold

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Commerce Bank increased its holdings in shares of Royal Gold by 4.3% during the 4th quarter. Commerce Bank now owns 2,356 shares of the basic materials company’s stock worth $285,000 after purchasing an additional 98 shares during the period. Birch Capital Management LLC raised its stake in shares of Royal Gold by 16.5% in the first quarter. Birch Capital Management LLC now owns 799 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 113 shares in the last quarter. Private Advisor Group LLC lifted its position in Royal Gold by 2.5% in the second quarter. Private Advisor Group LLC now owns 5,690 shares of the basic materials company’s stock worth $712,000 after purchasing an additional 141 shares during the period. QRG Capital Management Inc. lifted its position in Royal Gold by 6.3% in the second quarter. QRG Capital Management Inc. now owns 2,591 shares of the basic materials company’s stock worth $324,000 after purchasing an additional 154 shares during the period. Finally, Creative Planning boosted its stake in Royal Gold by 1.9% during the second quarter. Creative Planning now owns 8,190 shares of the basic materials company’s stock worth $1,025,000 after buying an additional 155 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Insider Buying and Selling

In other Royal Gold news, SVP Daniel Breeze sold 840 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $143.43, for a total transaction of $120,481.20. Following the transaction, the senior vice president now owns 16,842 shares in the company, valued at $2,415,648.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Paul Libner sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $142.53, for a total transaction of $213,795.00. Following the completion of the transaction, the chief financial officer now owns 18,657 shares of the company’s stock, valued at approximately $2,659,182.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Daniel Breeze sold 840 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $143.43, for a total value of $120,481.20. Following the completion of the sale, the senior vice president now directly owns 16,842 shares in the company, valued at approximately $2,415,648.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,355 shares of company stock worth $1,170,315. 0.52% of the stock is currently owned by insiders.

Royal Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be issued a $0.40 dividend. The ex-dividend date is Friday, October 4th. This represents a $1.60 annualized dividend and a yield of 1.09%. Royal Gold’s dividend payout ratio (DPR) is currently 47.20%.

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.