Royal Gold (NASDAQ:RGLD) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Royal Gold (NASDAQ:RGLD) (TSE:RGL) issued its quarterly earnings data on Wednesday. The basic materials company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.03, FiscalAI reports. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.

Royal Gold Trading Up 6.6%

Shares of NASDAQ RGLD traded up $15.16 on Wednesday, reaching $246.08. 750,457 shares of the company traded hands, compared to its average volume of 829,550. The stock has a market capitalization of $20.85 billion, a PE ratio of 26.86, a P/E/G ratio of 1.71 and a beta of 0.46. Royal Gold has a fifty-two week low of $169.54 and a fifty-two week high of $306.25. The company has a current ratio of 2.92, a quick ratio of 2.68 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $244.96 and a 200 day moving average of $241.30.

Royal Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 2nd were paid a dividend of $0.4750 per share. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. Royal Gold’s dividend payout ratio is currently 20.74%.

Wall Street Analyst Weigh In

A number of research firms recently commented on RGLD. Weiss Ratings upgraded Royal Gold from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Royal Bank Of Canada upped their target price on shares of Royal Gold from $305.00 to $325.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Zacks Research raised shares of Royal Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. Canadian Imperial Bank of Commerce set a $305.00 price target on shares of Royal Gold in a research note on Friday, October 16th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $336.00 price target on shares of Royal Gold in a report on Tuesday, October 20th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Royal Gold has a consensus rating of “Moderate Buy” and an average price target of $309.56.

Insider Activity

In related news, SVP Randy Shefman sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $262.80, for a total value of $131,400.00. Following the completion of the sale, the senior vice president directly owned 8,082 shares in the company, valued at approximately $2,123,949.60. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

About Royal Gold

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. The company provides financing to mining companies in exchange for the right to purchase a portion of the gold, silver, copper, or other metals produced from their mines, typically at predetermined prices. It also holds royalty interests that entitle it to a percentage of revenue or production from mining operations without directly operating the mines.

Royal Gold’s business is focused on acquiring and managing a diversified portfolio of streaming and royalty interests.