FY2024 Earnings Estimate for Royal Gold Issued By Scotiabank

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Equities research analysts at Scotiabank boosted their FY2024 earnings per share (EPS) estimates for shares of Royal Gold in a 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 previous 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.

Several other brokerages also recently commented on RGLD. StockNews.com upgraded shares of Royal Gold from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Raymond James upped their price objective on shares of Royal Gold from $184.00 to $186.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. TD Securities lifted their target price on shares of Royal Gold from $181.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group raised Royal Gold from a “hold” rating to a “buy” rating and raised their price target for the company from $154.00 to $178.00 in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $168.86.

Royal Gold Price Performance

Shares of RGLD stock opened at $134.68 on Friday. The stock’s fifty day simple moving average is $141.79 and its 200 day simple moving average is $139.81. Royal Gold has a one year low of $100.55 and a one year high of $155.10. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 30.89, a P/E/G ratio of 1.08 and a beta of 0.90.

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

Hedge Funds Weigh In On Royal Gold

Several hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd bought a new stake in shares of Royal Gold in the 3rd quarter valued at about $36,000. Advisors Asset Management Inc. acquired a new position in Royal Gold during the third quarter valued at approximately $38,000. Nomura Asset Management Co. Ltd. increased its stake in 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 valued at $41,000 after purchasing an additional 110 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in Royal Gold in the third quarter valued at approximately $49,000. Finally, Larson Financial Group LLC raised its holdings in Royal Gold by 51.7% in the third quarter. Larson Financial Group LLC now owns 361 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 123 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Insider Transactions at Royal Gold

In other Royal Gold news, SVP Daniel Breeze sold 549 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $150.00, for a total value of $82,350.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William M. Hayes sold 1,984 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $147.05, for a total transaction of $291,747.20. Following the sale, the director now owns 9,268 shares of the company’s stock, valued at $1,362,859.40. The trade was a 17.63 % decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

Royal Gold Increases Dividend

The company also recently announced 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 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 1.34%. The ex-dividend date is Friday, January 3rd. Royal Gold’s dividend payout ratio (DPR) is 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.