Royal Gold (NASDAQ:RGLD) Releases Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Royal Gold (NASDAQ:RGLD) (TSE:RGL) issued its quarterly earnings results on Wednesday. The basic materials company reported $2.72 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.09), FiscalAI reports. The firm had revenue of $479.14 million for the quarter, compared to the consensus estimate of $474.04 million. Royal Gold had a net margin of 45.26% and a return on equity of 11.89%. The business’s revenue was up 142.5% compared to the same quarter last year. During the same period last year, the company posted $1.51 EPS.

Royal Gold Stock Up 4.9%

Shares of RGLD traded up $10.98 during trading hours on Wednesday, hitting $236.88. The stock had a trading volume of 1,363,378 shares, compared to its average volume of 745,886. Royal Gold has a 1-year low of $150.75 and a 1-year high of $306.25. The firm has a market capitalization of $20.10 billion, a P/E ratio of 34.78, a price-to-earnings-growth ratio of 1.78 and a beta of 0.43. The firm has a 50 day simple moving average of $258.49 and a 200-day simple moving average of $238.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.91.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Thursday, April 2nd were paid a $0.475 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.8%. Royal Gold’s dividend payout ratio (DPR) is currently 27.90%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RGLD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Gold in a research report on Tuesday, April 21st. National Bank Financial cut their price target on shares of Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. UBS Group set a $325.00 price target on shares of Royal Gold and gave the company a “buy” rating in a research report on Wednesday, April 15th. Scotiabank cut shares of Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 price target on the stock. in a research report on Monday, January 26th. Finally, Zacks Research cut shares of Royal Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $273.64.

Insider Buying and Selling

In related news, SVP Daniel Breeze sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $300.87, for a total transaction of $421,218.00. Following the transaction, the senior vice president directly owned 20,140 shares of the company’s stock, valued at approximately $6,059,521.80. This represents a 6.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William M. Hayes sold 4,173 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $277.07, for a total value of $1,156,213.11. Following the transaction, the director directly owned 6,129 shares in the company, valued at approximately $1,698,162.03. This trade represents a 40.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 7,573 shares of company stock valued at $2,127,091. 0.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Nuveen LLC lifted its stake in shares of Royal Gold by 457.5% in the fourth quarter. Nuveen LLC now owns 925,906 shares of the basic materials company’s stock valued at $205,820,000 after buying an additional 759,810 shares in the last quarter. Invesco Ltd. lifted its position in Royal Gold by 44.3% in the 4th quarter. Invesco Ltd. now owns 1,446,731 shares of the basic materials company’s stock valued at $321,594,000 after acquiring an additional 443,942 shares in the last quarter. State Street Corp lifted its position in Royal Gold by 11.9% in the 4th quarter. State Street Corp now owns 3,718,646 shares of the basic materials company’s stock valued at $826,618,000 after acquiring an additional 396,778 shares in the last quarter. Deutsche Bank AG lifted its position in Royal Gold by 71.4% in the 4th quarter. Deutsche Bank AG now owns 464,503 shares of the basic materials company’s stock valued at $103,254,000 after acquiring an additional 193,448 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Royal Gold by 18.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,176,869 shares of the basic materials company’s stock valued at $261,624,000 after acquiring an additional 183,604 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

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.