Scotiabank Has Optimistic View of Royal Gold FY2024 Earnings

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) – Analysts at Scotiabank lifted their FY2024 earnings per share (EPS) estimates for Royal Gold in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the basic materials company will earn $4.99 per share for the year, up from their prior forecast 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.

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

Royal Gold Stock Performance

RGLD opened at $134.68 on Friday. Royal Gold has a one year low of $100.55 and a one year high of $155.10. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 30.89, a P/E/G ratio of 1.08 and a beta of 0.90. The stock’s 50 day moving average price is $142.01 and its 200-day moving average price is $139.63.

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

Royal Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a dividend of $0.45 per share. This is an increase from Royal Gold’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, January 3rd. This represents a $1.80 annualized dividend and a dividend yield of 1.34%. Royal Gold’s dividend payout ratio is presently 41.28%.

Insider Activity at Royal Gold

In other news, Director William M. Hayes sold 1,984 shares of Royal Gold stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $147.05, for a total transaction of $291,747.20. Following the sale, the director now directly owns 9,268 shares of the company’s stock, valued at approximately $1,362,859.40. The trade was a 17.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Daniel Breeze sold 549 shares of the company’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 value of $82,350.00. Following the completion of the transaction, the senior vice president now directly owns 16,293 shares in the company, valued at approximately $2,443,950. The trade was a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RGLD. Point72 Hong Kong Ltd bought a new position in Royal Gold during the third quarter worth $36,000. Advisors Asset Management Inc. bought a new position in Royal Gold in the third quarter worth about $38,000. Nomura Asset Management Co. Ltd. boosted its stake in Royal Gold by 61.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 290 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 110 shares during the period. Compagnie Lombard Odier SCmA bought a new position in shares of Royal Gold during the third quarter valued at approximately $49,000. Finally, Larson Financial Group LLC raised its position in shares of Royal Gold by 51.7% during the 3rd quarter. Larson Financial Group LLC now owns 361 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 123 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Royal Gold Company Profile

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.