Royal Gold, Inc. (RGLD) Expected to Post Earnings of $0.38 Per Share
Wall Street brokerages expect Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) to announce $0.38 earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for Royal Gold’s earnings, with the lowest EPS estimate coming in at $0.37 and the highest estimate coming in at $0.38. Royal Gold reported earnings of $0.46 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 17.4%. The business is expected to announce its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that Royal Gold will report full-year earnings of $1.58 per share for the current year, with EPS estimates ranging from $1.22 to $1.78. For the next financial year, analysts forecast that the firm will report earnings of $1.69 per share, with EPS estimates ranging from $1.23 to $2.14. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Royal Gold.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.02. The firm had revenue of $108.90 million for the quarter, compared to analyst estimates of $108.72 million. Royal Gold had a return on equity of 4.19% and a net margin of 23.03%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 EPS.
Several brokerages have commented on RGLD. BMO Capital Markets reiterated a “buy” rating and issued a $95.00 target price on shares of Royal Gold in a report on Thursday, June 29th. National Bank Financial raised their target price on shares of Royal Gold from $82.50 to $92.50 and gave the stock a “sector perform” rating in a report on Thursday, August 10th. BidaskClub cut shares of Royal Gold from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Scotiabank raised their target price on shares of Royal Gold from $81.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, May 12th. Finally, FBR & Co raised their target price on shares of Royal Gold from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Royal Gold currently has an average rating of “Buy” and a consensus target price of $91.95.
In other Royal Gold news, CFO Stefan Wenger sold 2,000 shares of Royal Gold stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $80.06, for a total value of $160,120.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman William M. Hayes sold 10,850 shares of Royal Gold stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $936,897.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,393 shares of company stock valued at $6,447,964. 1.37% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI acquired a new stake in Royal Gold during the second quarter worth about $104,000. Mountain Capital Investment Advisors Inc acquired a new stake in Royal Gold during the second quarter worth about $109,000. Almanack Investment Partners LLC. acquired a new stake in Royal Gold during the second quarter worth about $109,000. MUFG Americas Holdings Corp acquired a new stake in Royal Gold during the second quarter worth about $117,000. Finally, Meadow Creek Investment Management LLC boosted its stake in Royal Gold by 6.2% in the first quarter. Meadow Creek Investment Management LLC now owns 1,648 shares of the basic materials company’s stock worth $115,000 after buying an additional 96 shares during the period. Hedge funds and other institutional investors own 70.89% of the company’s stock.
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Shares of Royal Gold (NASDAQ RGLD) opened at 88.74 on Friday. The firm has a market cap of $5.80 billion, a P/E ratio of 57.25 and a beta of 0.68. The stock’s 50 day moving average is $84.62 and its 200-day moving average is $75.56. Royal Gold has a one year low of $60.21 and a one year high of $89.29.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Thursday, October 5th. Royal Gold’s dividend payout ratio is currently 61.54%.
Royal Gold Company Profile
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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