FY2024 Earnings Forecast for Royal Gold Issued By Scotiabank

Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL - Analysts at Scotiabank lifted their FY2024 earnings per share (EPS) estimates for Royal Gold in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the basic materials company will earn $4.99 per share for the year, up from their prior forecast 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.

RGLD has been the subject of several other research reports. Raymond James increased their target price on Royal Gold from $184.00 to $186.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. TD Securities increased their target price on Royal Gold from $181.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Jefferies Financial Group upgraded Royal Gold from a "hold" rating to a "buy" rating and increased their target price for the stock from $154.00 to $178.00 in a research report on Tuesday. Finally, StockNews.com upgraded Royal Gold from a "hold" rating to a "buy" rating in a report on Thursday, September 19th. One equities 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. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $168.86.

Royal Gold Price Performance

Shares of NASDAQ:RGLD traded down $1.57 during trading on Friday, hitting $134.68. 363,112 shares of the company's stock were exchanged, compared to its average volume of 380,922. Royal Gold has a 52-week low of $100.55 and a 52-week high of $155.10. The business's 50-day simple moving average is $142.01 and its 200 day simple moving average is $139.63. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 1.08 and a beta of 0.90.

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

Royal Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.34%. This is a positive change from Royal Gold's previous quarterly dividend of $0.40. The ex-dividend date is Friday, January 3rd. Royal Gold's dividend payout ratio (DPR) is presently 41.28%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Royal Gold

Hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new stake in shares of Royal Gold in the 3rd quarter worth $36,000. Advisors Asset Management Inc. bought a new position in shares of Royal Gold in the 3rd quarter worth $38,000. Nomura Asset Management Co. Ltd. raised its position in shares of Royal Gold by 61.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 290 shares of the basic materials company's stock worth $41,000 after acquiring an additional 110 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of Royal Gold in the 3rd quarter worth $49,000. Finally, Larson Financial Group LLC raised its position in shares of Royal Gold by 51.7% in the 3rd quarter. Larson Financial Group LLC now owns 361 shares of the basic materials company's stock worth $51,000 after acquiring an additional 123 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other 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.