FY2024 Earnings Forecast for Royal Gold Issued By Scotiabank

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Investment analysts at Scotiabank upped their FY2024 earnings per share estimates for shares of Royal Gold in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the basic materials company will earn $4.99 per share for the year, up from their previous estimate of $4.88. The consensus estimate for Royal Gold’s current full-year earnings is $5.14 per share. Scotiabank also issued estimates for Royal Gold’s FY2025 earnings at $6.73 EPS and FY2026 earnings at $7.02 EPS.

Several other brokerages have also recently commented on RGLD. TD Securities boosted their price target on shares of Royal Gold from $181.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Raymond James upped their target price on Royal Gold from $184.00 to $186.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Jefferies Financial Group raised Royal Gold from a “hold” rating to a “buy” rating and lifted their price objective for the company from $154.00 to $178.00 in a research report on Tuesday. Finally, StockNews.com upgraded shares of Royal Gold from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. One research 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 data from MarketBeat, Royal Gold presently has a consensus rating of “Hold” and an average price target of $168.86.

Royal Gold Trading Down 1.2 %

Shares of NASDAQ:RGLD opened at $134.68 on Friday. Royal Gold has a 52 week low of $100.55 and a 52 week high of $155.10. The firm’s 50 day moving average is $142.01 and its two-hundred day moving average is $139.63. The firm has a market capitalization of $8.86 billion, a P/E ratio of 30.89, a PEG ratio of 1.08 and a beta of 0.90.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.13. The company had revenue of $193.84 million for the quarter, compared to analysts’ expectations of $184.12 million. Royal Gold had a net margin of 42.93% and a return on equity of 10.18%. During the same period in the prior year, the company earned $0.76 earnings per share. The firm’s revenue was up 39.8% compared to the same quarter last year.

Royal Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.45 per share. This is a positive change from Royal Gold’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, January 3rd. This represents a $1.80 annualized dividend and a dividend yield of 1.34%. Royal Gold’s payout ratio is 41.28%.

Insider Activity

In other news, SVP Daniel Breeze sold 549 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $150.00, for a total transaction of $82,350.00. Following the completion of the transaction, the senior vice president now directly owns 16,293 shares in the company, valued at $2,443,950. This trade represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William M. Hayes sold 1,984 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $147.05, for a total value of $291,747.20. Following the sale, the director now owns 9,268 shares in the company, valued at approximately $1,362,859.40. The trade was a 17.63 % decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Royal Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd bought a new stake in Royal Gold in the third quarter worth about $36,000. Advisors Asset Management Inc. bought a new stake in shares of Royal Gold during the 3rd quarter worth $38,000. Nomura Asset Management Co. Ltd. boosted its stake in Royal Gold by 61.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 290 shares of the basic materials company’s stock worth $41,000 after buying an additional 110 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of Royal Gold during the third quarter valued at about $49,000. Finally, Larson Financial Group LLC increased its stake in shares of Royal Gold by 51.7% in the third quarter. Larson Financial Group LLC now owns 361 shares of the basic materials company’s stock worth $51,000 after buying an additional 123 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

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.