Analysts Set Expectations for Royal Gold, Inc.’s Q2 2023 Earnings (NASDAQ:RGLD)

Royal Gold, Inc. (NASDAQ:RGLDGet Rating) (TSE:RGL) – Analysts at Raymond James dropped their Q2 2023 earnings per share estimates for shares of Royal Gold in a research note issued to investors on Tuesday, April 19th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will earn $0.93 per share for the quarter, down from their prior estimate of $0.94. Raymond James currently has a “Outperform” rating and a $145.00 target price on the stock.

Royal Gold (NASDAQ:RGLDGet Rating) (TSE:RGL) last posted its quarterly earnings results on Wednesday, February 16th. The basic materials company reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.11. The business had revenue of $168.52 million during the quarter, compared to the consensus estimate of $160.82 million. Royal Gold had a return on equity of 10.42% and a net margin of 41.93%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $0.92 earnings per share.

A number of other equities analysts also recently commented on the company. Barclays lifted their price target on Royal Gold from $122.00 to $128.00 in a research note on Thursday. StockNews.com initiated coverage on Royal Gold in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Canaccord Genuity Group downgraded Royal Gold from a “buy” rating to a “hold” rating and lifted their target price for the company from $135.00 to $145.00 in a research note on Tuesday, April 5th. JPMorgan Chase & Co. decreased their target price on Royal Gold from $147.00 to $143.00 and set an “overweight” rating for the company in a research note on Tuesday, February 22nd. Finally, Canaccord Genuity Group downgraded Royal Gold from a “buy” rating to a “hold” rating and lifted their target price for the company from $135.00 to $145.00 in a research note on Tuesday, April 5th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $138.68.

NASDAQ:RGLD opened at $137.29 on Thursday. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 3.72 and a beta of 0.63. Royal Gold has a one year low of $92.01 and a one year high of $147.70. The stock has a 50-day simple moving average of $134.43 and a 200 day simple moving average of $113.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.33 and a current ratio of 3.52.

A number of large investors have recently made changes to their positions in RGLD. Norges Bank bought a new position in shares of Royal Gold in the fourth quarter valued at $95,486,000. Millennium Management LLC increased its holdings in shares of Royal Gold by 469.9% in the fourth quarter. Millennium Management LLC now owns 753,282 shares of the basic materials company’s stock valued at $79,253,000 after buying an additional 621,100 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Royal Gold by 3.0% in the fourth quarter. BlackRock Inc. now owns 6,589,718 shares of the basic materials company’s stock valued at $693,306,000 after buying an additional 189,348 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Royal Gold in the fourth quarter valued at $18,580,000. Finally, Capitolis Advisors LLC increased its holdings in shares of Royal Gold by 194.6% in the third quarter. Capitolis Advisors LLC now owns 218,054 shares of the basic materials company’s stock valued at $21,424,000 after buying an additional 144,041 shares in the last quarter. 79.30% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO Paul Libner sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $125.00, for a total transaction of $150,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Friday, April 1st were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.02%. Royal Gold’s dividend payout ratio (DPR) is presently 33.57%.

About Royal Gold (Get Rating)

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and cobalt.

Further Reading

Earnings History and Estimates for Royal Gold (NASDAQ:RGLD)

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