Royal Gold (NASDAQ:RGLD) Announces Earnings Results, Beats Estimates By $0.01 EPS

Royal Gold (NASDAQ:RGLD) (TSE:RGL) announced its earnings results on Wednesday. The basic materials company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.01, FiscalAI reports. Royal Gold had a return on equity of 12.86% and a net margin of 47.74%.The company had revenue of $468.98 million during the quarter, compared to the consensus estimate of $458.85 million. During the same quarter in the prior year, the company earned $1.81 earnings per share. The firm’s revenue for the quarter was up 114.9% on a year-over-year basis.

Royal Gold Stock Up 4.9%

NASDAQ RGLD traded up $10.64 on Friday, reaching $228.75. The company had a trading volume of 453,243 shares, compared to its average volume of 898,852. The firm has a market capitalization of $19.41 billion, a PE ratio of 24.99, a P/E/G ratio of 1.57 and a beta of 0.44. Royal Gold has a 1 year low of $164.13 and a 1 year high of $306.25. The firm has a 50-day moving average of $204.39 and a 200-day moving average of $239.89. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.52 and a quick ratio of 3.26.

Royal Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.90 annualized dividend and a yield of 0.8%. Royal Gold’s payout ratio is 22.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. National Bank Financial cut their price target on Royal Gold from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. UBS Group decreased their target price on Royal Gold from $325.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Royal Bank Of Canada lowered their target price on Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Jefferies Financial Group reduced their target price on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a report on Monday, July 6th. Finally, Scotiabank reissued a “sector perform” rating and issued a $310.00 price target on shares of Royal Gold in a report on Tuesday, July 14th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $280.27.

Insider Activity

In other news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total value of $107,925.00. Following the completion of the transaction, the senior vice president directly owned 8,582 shares in the company, valued at approximately $1,852,424.70. This represents a 5.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by corporate insiders.

Institutional Trading of Royal Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. iSAM Funds UK Ltd purchased a new position in shares of Royal Gold during the fourth quarter valued at $225,000. Quarry LP boosted its stake in shares of Royal Gold by 67.0% during the 4th quarter. Quarry LP now owns 1,044 shares of the basic materials company’s stock valued at $232,000 after buying an additional 419 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in shares of Royal Gold during the 4th quarter valued at $219,000. Evergreen Capital Management LLC acquired a new stake in Royal Gold during the second quarter valued at $206,000. Finally, Rafferty Asset Management LLC purchased a new position in Royal Gold in the second quarter valued at about $204,000. Institutional investors own 83.65% of the company’s stock.

About Royal Gold

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.