Raymond James Research Analysts Raise Earnings Estimates for Royal Gold, Inc. (NASDAQ:RGLD)

Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL - Stock analysts at Raymond James raised their Q3 2024 EPS estimates for shares of Royal Gold in a note issued to investors on Monday, September 23rd. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $1.30 per share for the quarter, up from their previous 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 - Get Free Report) TSE: RGL last issued its earnings results on Wednesday, August 7th. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. Royal Gold had a return on equity of 8.74% and a net margin of 39.15%. The company had revenue of $174.10 million during the quarter, compared to the consensus estimate of $172.12 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. The company's revenue was up 20.9% compared to the same quarter last year.

A number of other research analysts have also recently commented on RGLD. StockNews.com raised shares of Royal Gold from a "hold" rating to a "buy" rating in a research report on Thursday, September 19th. Scotiabank upped their price objective on shares of Royal Gold from $148.00 to $157.00 and gave the company a "sector perform" rating in a research report on Monday, August 19th. Bank of America raised their target price on Royal Gold from $129.00 to $131.00 and gave the company an "underperform" rating in a research note on Wednesday, June 26th. CIBC boosted their price target on Royal Gold from $166.00 to $175.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 10th. Finally, BMO Capital Markets raised their price objective on Royal Gold from $168.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $157.00.

Royal Gold Price Performance

Royal Gold stock traded up $0.14 during midday trading on Wednesday, hitting $146.50. 329,133 shares of the company were exchanged, compared to its average volume of 375,352. The company has a market cap of $9.63 billion, a PE ratio of 43.22, a price-to-earnings-growth ratio of 1.14 and a beta of 0.90. Royal Gold has a fifty-two week low of $100.55 and a fifty-two week high of $147.65. The company's fifty day moving average price is $137.34 and its 200-day moving average price is $128.64.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $1.60 annualized dividend and a dividend yield of 1.09%. Royal Gold's payout ratio is 47.20%.

Insider Activity

In related news, SVP Daniel Breeze sold 840 shares of the firm's stock in a transaction 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 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 is accessible through the SEC website. In related news, SVP Daniel Breeze sold 840 shares of the business's stock in a transaction dated 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 sale, the senior vice president now owns 16,842 shares of the company's stock, valued at approximately $2,415,648.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Randy Shefman sold 4,600 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $140.31, for a total transaction of $645,426.00. Following the sale, the senior vice president now owns 7,430 shares in the company, valued at approximately $1,042,503.30. 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commerce Bank grew its position in Royal Gold by 4.3% in 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 last quarter. Birch Capital Management LLC grew its holdings in Royal Gold by 16.5% in the 1st quarter. Birch Capital Management LLC now owns 799 shares of the basic materials company's stock worth $97,000 after buying an additional 113 shares in the last quarter. Private Advisor Group LLC increased its position in Royal Gold by 2.5% in the 2nd quarter. Private Advisor Group LLC now owns 5,690 shares of the basic materials company's stock valued at $712,000 after acquiring an additional 141 shares during the period. QRG Capital Management Inc. raised its stake in Royal Gold by 6.3% during the 2nd quarter. QRG Capital Management Inc. now owns 2,591 shares of the basic materials company's stock valued at $324,000 after acquiring an additional 154 shares in the last quarter. Finally, Creative Planning boosted its position in Royal Gold by 1.9% during the 2nd quarter. Creative Planning now owns 8,190 shares of the basic materials company's stock worth $1,025,000 after acquiring an additional 155 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.