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 $2.56 EPS for the quarter, topping the consensus estimate of $2.55 by $0.01, FiscalAI reports. Royal Gold had a net margin of 48.59% and a return on equity of 12.63%. Royal Gold’s revenue was up 114.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.81 EPS.

Royal Gold Trading Up 4.4%

Shares of NASDAQ:RGLD traded up $9.06 during trading on Wednesday, reaching $215.09. 986,832 shares of the company traded hands, compared to its average volume of 682,703. The firm has a market capitalization of $18.25 billion, a price-to-earnings ratio of 25.64, a P/E/G ratio of 1.50 and a beta of 0.44. Royal Gold has a 52-week low of $160.08 and a 52-week high of $306.25. The company has a current ratio of 3.52, a quick ratio of 3.26 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average is $204.48 and its 200-day moving average is $240.22.

Royal Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd were given a $0.475 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $1.90 annualized dividend and a yield of 0.9%. Royal Gold’s payout ratio is presently 22.65%.

Insider Activity

In related news, SVP Randy Shefman sold 1,000 shares of Royal Gold stock in a transaction on Monday, May 11th. The shares were sold at an average price of $243.74, for a total value of $243,740.00. Following the transaction, the senior vice president directly owned 9,082 shares of the company’s stock, valued at $2,213,646.68. The trade was a 9.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Royal Gold

Several institutional investors have recently added to or reduced their stakes in RGLD. Gen Wealth Partners Inc bought a new stake in Royal Gold in the 4th quarter worth $27,000. Sunbelt Securities Inc. increased its position in shares of Royal Gold by 8,400.0% in the third quarter. Sunbelt Securities Inc. now owns 170 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 168 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Royal Gold by 54.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 495 shares of the basic materials company’s stock valued at $112,000 after acquiring an additional 174 shares during the period. Larson Financial Group LLC raised its stake in shares of Royal Gold by 27.9% during the third quarter. Larson Financial Group LLC now owns 651 shares of the basic materials company’s stock valued at $131,000 after acquiring an additional 142 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Royal Gold by 32.4% during the second quarter. Geneos Wealth Management Inc. now owns 711 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group cut their price objective on shares of Royal Gold from $325.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Jefferies Financial Group decreased their target price on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Zacks Research downgraded shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Royal Bank Of Canada cut their price target on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Finally, Weiss Ratings cut Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Royal Gold currently has a consensus rating of “Hold” and an average price target of $280.27.

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.