Royal Gold (NASDAQ:RGLD) Announces Quarterly Earnings Results, Misses Expectations By $0.76 EPS

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

Royal Gold Stock Down 0.5%

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

Analyst Upgrades and Downgrades

Several brokerages have commented on RGLD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Gold in a research report on Thursday, January 22nd. TD Cowen boosted their price objective on Royal Gold from $261.00 to $263.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Scotiabank downgraded 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 note on Monday, January 26th. Raymond James Financial set a $264.00 price objective on shares of Royal Gold in a research report on Thursday, November 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $270.00 price objective on shares of Royal Gold in a research note on Sunday, December 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $251.50.

Institutional Trading of Royal Gold

Institutional investors and hedge funds have recently modified their holdings of the company. Gen Wealth Partners Inc acquired a new stake in shares of Royal Gold in the 4th quarter valued at $27,000. Sunbelt Securities Inc. increased its stake in Royal Gold by 8,400.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 170 shares of the basic materials company’s stock valued at $34,000 after buying an additional 168 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Royal Gold by 54.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 495 shares of the basic materials company’s stock valued at $112,000 after acquiring an additional 174 shares during the period. Larson Financial Group LLC lifted its stake in shares of Royal Gold by 27.9% during the 3rd quarter. Larson Financial Group LLC now owns 651 shares of the basic materials company’s stock worth $131,000 after buying an additional 142 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Royal Gold by 32.4% in the second quarter. Geneos Wealth Management Inc. now owns 711 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 174 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

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.