Royal Gold (NASDAQ:RGLD) Releases Quarterly Earnings Results, Misses Estimates By $0.24 EPS

Royal Gold (NASDAQ:RGLD) (TSE:RGL) released its quarterly earnings data on Wednesday. The basic materials company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.24), Zacks reports. The business had revenue of $250.23 million during the quarter, compared to analyst estimates of $275.11 million. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The firm’s revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.47 EPS.

Royal Gold Stock Performance

Shares of NASDAQ RGLD traded down $3.42 during midday trading on Thursday, reaching $169.91. 1,056,535 shares of the stock were exchanged, compared to its average volume of 767,016. The company has a 50 day simple moving average of $188.89 and a 200 day simple moving average of $178.14. The stock has a market capitalization of $11.19 billion, a P/E ratio of 24.91, a PEG ratio of 0.96 and a beta of 0.41. Royal Gold has a twelve month low of $130.67 and a twelve month high of $209.42.

Royal Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were issued a dividend of $0.45 per share. The ex-dividend date was Friday, October 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.1%. Royal Gold’s dividend payout ratio (DPR) is currently 26.39%.

Hedge Funds Weigh In On Royal Gold

A number of hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. boosted its position in shares of Royal Gold by 32.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 711 shares of the basic materials company’s stock worth $126,000 after purchasing an additional 174 shares during the period. EP Wealth Advisors LLC boosted its position in shares of Royal Gold by 9.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 2,423 shares of the basic materials company’s stock worth $431,000 after purchasing an additional 202 shares during the period. Vident Advisory LLC boosted its position in shares of Royal Gold by 4.6% during the 2nd quarter. Vident Advisory LLC now owns 6,074 shares of the basic materials company’s stock worth $1,080,000 after purchasing an additional 265 shares during the period. Orion Investment Co boosted its position in shares of Royal Gold by 1.8% during the 2nd quarter. Orion Investment Co now owns 27,109 shares of the basic materials company’s stock worth $4,821,000 after purchasing an additional 479 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in shares of Royal Gold by 2.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 30,690 shares of the basic materials company’s stock worth $5,458,000 after purchasing an additional 637 shares during the period. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

RGLD has been the subject of a number of recent research reports. CIBC increased their price objective on shares of Royal Gold from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Wall Street Zen downgraded shares of Royal Gold from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Bank of America increased their price objective on shares of Royal Gold from $193.00 to $203.00 and gave the company an “underperform” rating in a report on Thursday, October 16th. TD Securities reiterated a “buy” rating and issued a $237.00 price objective (up previously from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Finally, Zacks Research upgraded shares of Royal Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $220.44.

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.