Scotiabank Analysts Raise Earnings Estimates for Royal Gold

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Equities research analysts at Scotiabank boosted their FY2024 earnings per share estimates for shares of Royal Gold in a report released on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the basic materials company will post earnings per share of $4.99 for the year, up from their prior estimate 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.

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

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

Royal Gold Stock Performance

Shares of NASDAQ:RGLD opened at $136.25 on Friday. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 1.08 and a beta of 0.90. The firm has a fifty day moving average price of $142.20 and a 200 day moving average price of $139.65. Royal Gold has a fifty-two week low of $100.55 and a fifty-two week high of $155.10.

Hedge Funds Weigh In On Royal Gold

Hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC boosted its stake 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 worth $712,000 after buying an additional 141 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Royal Gold in the 2nd quarter valued at $235,000. American Century Companies Inc. boosted its holdings in Royal Gold by 2.8% during the second quarter. American Century Companies Inc. now owns 216,187 shares of the basic materials company’s stock worth $27,058,000 after buying an additional 5,911 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Royal Gold by 86.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 36,125 shares of the basic materials company’s stock valued at $4,526,000 after buying an additional 16,762 shares during the period. Finally, Parallel Advisors LLC boosted its stake in shares of Royal Gold by 7.1% during the 2nd quarter. Parallel Advisors LLC now owns 2,752 shares of the basic materials company’s stock worth $344,000 after acquiring an additional 183 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Insider Activity at Royal Gold

In related news, Director William M. Hayes sold 1,984 shares of the stock in a transaction that occurred 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 completion of the sale, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $82,350.00. Following the completion of the sale, the senior vice president now 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 disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

Royal Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be issued a $0.45 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.80 annualized dividend and a dividend yield of 1.32%. This is a positive change from Royal Gold’s previous quarterly dividend of $0.40. Royal Gold’s 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.