FY2024 EPS Estimates for Royal Gold Cut by Analyst

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Research analysts at National Bank Financial lowered their FY2024 EPS estimates for shares of Royal Gold in a report released on Monday, February 10th. National Bank Financial analyst S. Nagle now expects that the basic materials company will post earnings of $5.22 per share for the year, down from their prior forecast 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 issued its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 brokerages also recently weighed in on RGLD. Jefferies Financial Group upgraded Royal Gold from a “hold” rating to a “buy” rating and boosted their price objective for the company from $154.00 to $178.00 in a research note on Tuesday, January 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, TD Securities boosted their price objective on Royal Gold from $181.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $168.86.

Royal Gold Stock Performance

Shares of NASDAQ:RGLD opened at $146.83 on Thursday. The company’s 50-day moving average is $139.57 and its 200 day moving average is $141.17. The company has a market capitalization of $9.66 billion, a P/E ratio of 33.68, a price-to-earnings-growth ratio of 0.87 and a beta of 0.90. Royal Gold has a fifty-two week low of $100.55 and a fifty-two week high of $155.64.

Institutional Investors Weigh In On Royal Gold

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC bought a new position in shares of Royal Gold in the fourth quarter worth approximately $25,000. Point72 Hong Kong Ltd bought a new position in shares of Royal Gold in the third quarter worth approximately $36,000. Advisors Asset Management Inc. bought a new position in shares of Royal Gold in the third quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. increased its position in shares of 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 purchasing an additional 110 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Royal Gold in the fourth quarter worth approximately $42,000. 83.65% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Daniel Breeze sold 549 shares of the company’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 sale, the senior vice president now directly owns 16,293 shares in the company, valued at $2,443,950. This represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company 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 given a dividend of $0.45 per share. The ex-dividend date was Friday, January 3rd. This is a boost from Royal Gold’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.23%. Royal Gold’s dividend payout ratio is currently 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.