Royal Gold (NASDAQ:RGLD) Announces Earnings Results

Royal Gold (NASDAQ:RGLD) (TSE:RGL) posted its quarterly earnings results on Wednesday. The basic materials company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.03, FiscalAI reports. The firm had revenue of $464.77 million during the quarter, compared to the consensus estimate of $459.84 million. Royal Gold had a net margin of 47.69% and a return on equity of 11.80%. The business’s revenue was up 84.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.06 earnings per share.

Royal Gold Stock Up 0.7%

RGLD traded up $1.90 during midday trading on Friday, reaching $263.18. 483,998 shares of the company were exchanged, compared to its average volume of 828,931. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92. The company’s fifty day moving average price is $244.43 and its 200 day moving average price is $241.22. The company has a market cap of $22.30 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 1.78 and a beta of 0.46. Royal Gold has a one year low of $170.89 and a one year high of $306.25.

Royal Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were paid a dividend of $0.4750 per share. The ex-dividend date was Friday, October 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.7%. Royal Gold’s payout ratio is 19.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Zacks Research raised Royal Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. TD lowered their target price on Royal Gold from $315.00 to $311.00 and set a “buy” rating on the stock in a research report on Tuesday, October 20th. Scotiabank reiterated a “sector perform” rating and issued a $310.00 target price on shares of Royal Gold in a report on Tuesday, July 14th. UBS Group lifted their price target on shares of Royal Gold from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Royal Gold from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $309.67.

Insider Activity at Royal Gold

In other news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $262.80, for a total value of $131,400.00. Following the transaction, the senior vice president owned 8,082 shares in the company, valued at $2,123,949.60. This trade represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

About Royal Gold

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. The company provides financing to mining companies in exchange for the right to purchase a portion of the gold, silver, copper, or other metals produced from their mines, typically at predetermined prices. It also holds royalty interests that entitle it to a percentage of revenue or production from mining operations without directly operating the mines.

Royal Gold’s business is focused on acquiring and managing a diversified portfolio of streaming and royalty interests.