Royal Gold Q3 EPS Estimate Raised by National Bank Financial

Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL - Investment analysts at National Bank Financial raised their Q3 2024 earnings per share estimates for Royal Gold in a report released on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now expects that the basic materials company will post earnings of $1.35 per share for the quarter, up from their previous forecast of $1.06. The consensus estimate for Royal Gold's current full-year earnings is $4.86 per share. National Bank Financial also issued estimates for Royal Gold's FY2024 earnings at $5.10 EPS and FY2025 earnings at $6.06 EPS.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its earnings results on Wednesday, August 7th. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. The firm had revenue of $174.10 million for the quarter, compared to analysts' expectations of $172.12 million. Royal Gold had a return on equity of 8.74% and a net margin of 39.15%. The firm's quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 earnings per share.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets upped their price target on Royal Gold from $168.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, July 10th. Cibc World Mkts upgraded Royal Gold to a "hold" rating in a report on Wednesday, July 10th. Raymond James increased their price objective on Royal Gold from $167.00 to $170.00 and gave the stock an "outperformer" rating in a research note on Friday, August 9th. Scotiabank lifted their target price on Royal Gold from $148.00 to $157.00 and gave the company a "sector perform" rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group increased their price target on shares of Royal Gold from $141.00 to $154.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. 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's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $158.86.

Royal Gold Stock Performance

Shares of NASDAQ RGLD traded down $0.81 during trading on Friday, hitting $150.34. The company had a trading volume of 322,298 shares, compared to its average volume of 368,078. The company has a market cap of $9.88 billion, a P/E ratio of 41.19, a PEG ratio of 1.30 and a beta of 0.90. Royal Gold has a 52 week low of $100.55 and a 52 week high of $155.10. The business's 50-day moving average is $142.01 and its 200 day moving average is $133.04.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, October 4th. Royal Gold's dividend payout ratio is currently 43.84%.

Insider Buying and Selling

In related news, Director Ronald J. Vance sold 415 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $140.85, for a total transaction of $58,452.75. Following the transaction, the director now owns 8,194 shares of the company's stock, valued at approximately $1,154,124.90. This trade represents a 0.00 % 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. In related news, Director Ronald J. Vance sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $132.16, for a total transaction of $132,160.00. Following the transaction, the director now owns 9,109 shares of the company's stock, valued at approximately $1,203,845.44. This trade represents a 0.00 % 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 Ronald J. Vance sold 415 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $140.85, for a total transaction of $58,452.75. Following the transaction, the director now directly owns 8,194 shares in the company, valued at approximately $1,154,124.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,355 shares of company stock worth $1,170,315. 0.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Royal Gold

A number of institutional investors have recently modified their holdings of the company. Private Advisor Group LLC raised its position in shares of Royal Gold by 2.5% in the second quarter. Private Advisor Group LLC now owns 5,690 shares of the basic materials company's stock valued at $712,000 after purchasing an additional 141 shares during the period. UMB Bank n.a. raised its position in shares of Royal Gold by 15.4% in the third quarter. UMB Bank n.a. now owns 1,145 shares of the basic materials company's stock valued at $161,000 after purchasing an additional 153 shares during the period. QRG Capital Management Inc. raised its position in shares of Royal Gold by 6.3% in the second quarter. QRG Capital Management Inc. now owns 2,591 shares of the basic materials company's stock valued at $324,000 after purchasing an additional 154 shares during the period. Creative Planning raised its position in shares of Royal Gold by 1.9% in the second quarter. Creative Planning now owns 8,190 shares of the basic materials company's stock valued at $1,025,000 after purchasing an additional 155 shares during the period. Finally, Aaron Wealth Advisors LLC raised its position in shares of Royal Gold by 1.8% in the second quarter. Aaron Wealth Advisors LLC now owns 9,756 shares of the basic materials company's stock valued at $1,221,000 after purchasing an additional 169 shares during the period. Institutional investors own 83.65% of the company's stock.

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.