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

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Research analysts at Raymond James increased their Q3 2024 earnings per share (EPS) estimates for shares of Royal Gold in a research report issued to clients and investors on Monday, September 23rd. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings of $1.30 per share for the quarter, up from their prior estimate of $1.19. Raymond James currently has a “Outperformer” rating and a $170.00 price target 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.

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

A number of other equities research analysts have also recently issued reports on RGLD. BMO Capital Markets boosted their target price on shares of Royal Gold from $168.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. Cibc World Mkts raised shares of Royal Gold to a “hold” rating in a report on Wednesday, July 10th. Bank of America raised their target price on shares of Royal Gold from $129.00 to $131.00 and gave the stock an “underperform” rating in a report on Wednesday, June 26th. Jefferies Financial Group boosted their price target on Royal Gold from $130.00 to $141.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Finally, Scotiabank raised their price objective on Royal Gold from $148.00 to $157.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. One equities research 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $157.00.

Royal Gold Trading Down 0.6 %

NASDAQ:RGLD opened at $145.62 on Wednesday. The stock has a 50 day simple moving average of $137.62 and a 200 day simple moving average of $128.88. Royal Gold has a 1-year low of $100.55 and a 1-year high of $147.65. The stock has a market cap of $9.57 billion, a P/E ratio of 42.96, a PEG ratio of 1.14 and a beta of 0.90.

Royal Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, October 4th. Royal Gold’s dividend payout ratio is presently 47.20%.

Insider Activity

In related news, Director Ronald J. Vance sold 1,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $132.16, for a total transaction of $132,160.00. Following the completion of the sale, the director now directly owns 9,109 shares in the company, valued at approximately $1,203,845.44. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Daniel Breeze sold 840 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $143.43, for a total transaction of $120,481.20. Following the completion of the transaction, the senior vice president now directly owns 16,842 shares in the company, valued at $2,415,648.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald J. Vance sold 1,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $132.16, for a total value of $132,160.00. Following the sale, the director now directly owns 9,109 shares in the company, valued at approximately $1,203,845.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,355 shares of company stock worth $1,170,315. Insiders own 0.52% of the company’s stock.

Institutional Trading of Royal Gold

Several hedge funds and other institutional investors have recently made changes to their positions in RGLD. Fidelis Capital Partners LLC acquired a new stake in Royal Gold during the 1st quarter worth approximately $36,000. Janiczek Wealth Management LLC grew its stake in shares of Royal Gold by 321.8% in the first quarter. Janiczek Wealth Management LLC now owns 426 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 325 shares during the last quarter. Fortis Group Advisors LLC increased its holdings in Royal Gold by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 446 shares of the basic materials company’s stock valued at $54,000 after purchasing an additional 223 shares during the period. Mather Group LLC. bought a new position in Royal Gold during the 2nd quarter worth $62,000. Finally, 1832 Asset Management L.P. acquired a new position in Royal Gold during the 2nd quarter worth about $65,000. 83.65% of the stock is currently owned by institutional investors.

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.