Royal Gold (NASDAQ:RGLD) Announces Earnings Results

Royal Gold (NASDAQ:RGLD) (TSE:RGL) issued its earnings results on Wednesday. The basic materials company reported $1.92 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.76), FiscalAI reports. Royal Gold had a return on equity of 14.14% and a net margin of 55.99%.The company had revenue of $360.85 million for the quarter, compared to analysts’ expectations of $425.47 million. During the same quarter in the previous year, the firm posted $1.63 earnings per share. Royal Gold’s revenue for the quarter was up 85.2% on a year-over-year basis.

Royal Gold Stock Down 0.5%

RGLD opened at $277.77 on Thursday. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.23. The firm has a market cap of $23.44 billion, a P/E ratio of 38.16, a PEG ratio of 0.83 and a beta of 0.49. Royal Gold has a 52 week low of $142.95 and a 52 week high of $306.25. The business’s fifty day simple moving average is $254.25 and its 200 day simple moving average is $210.03.

Analyst Ratings Changes

RGLD has been the topic of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Royal Gold in a research report on Thursday, January 22nd. Jefferies Financial Group restated a “buy” rating and issued a $270.00 price target on shares of Royal Gold in a report on Sunday, December 7th. TD Cowen raised their price objective on Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating and set a $330.00 target price on shares of Royal Gold in a research report on Wednesday, February 4th. Finally, Zacks Research raised Royal Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $251.50.

Institutional Investors Weigh In On Royal Gold

Several hedge funds have recently modified their holdings of the company. Nuveen LLC lifted its stake in shares of Royal Gold by 457.5% during 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 during the period. State Street Corp raised its holdings 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 during the last quarter. Deutsche Bank AG lifted its stake in shares of Royal Gold by 71.4% during the 4th quarter. Deutsche Bank AG now owns 464,503 shares of the basic materials company’s stock worth $103,254,000 after purchasing an additional 193,448 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Royal Gold by 18.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,176,869 shares of the basic materials company’s stock worth $261,624,000 after purchasing an additional 183,604 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Royal Gold by 17.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 981,548 shares of the basic materials company’s stock worth $196,879,000 after purchasing an additional 148,367 shares during the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Royal Gold Company Profile

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.