Royal Gold (NASDAQ:RGLD) Announces Earnings Results, Misses Expectations By $0.65 EPS

Royal Gold (NASDAQ:RGLD) (TSE:RGL) released its quarterly earnings data on Wednesday. The basic materials company reported $1.92 EPS for the quarter, missing the consensus estimate of $2.57 by ($0.65), FiscalAI reports. The business had revenue of $360.85 million for the quarter, compared to the consensus estimate of $425.47 million. Royal Gold had a net margin of 55.99% and a return on equity of 14.14%.

Royal Gold Trading Down 0.5%

Shares of NASDAQ RGLD traded down $1.30 during trading hours on Wednesday, reaching $277.77. The stock had a trading volume of 1,159,889 shares, compared to its average volume of 1,004,877. Royal Gold has a 52-week low of $142.95 and a 52-week high of $306.25. The firm has a market cap of $23.44 billion, a price-to-earnings ratio of 38.16, a P/E/G ratio of 0.85 and a beta of 0.49. The business’s fifty day moving average price is $252.88 and its two-hundred day moving average price is $209.56. The company has a current ratio of 2.89, a quick ratio of 2.68 and a debt-to-equity ratio of 0.23.

Institutional Trading of Royal Gold

Institutional investors and hedge funds have recently made changes to their positions in the company. Nuveen LLC grew its position in Royal Gold by 457.5% during the 4th quarter. Nuveen LLC now owns 925,906 shares of the basic materials company’s stock worth $205,820,000 after purchasing an additional 759,810 shares during the last quarter. State Street Corp lifted its stake in shares of Royal Gold by 11.9% during the fourth quarter. State Street Corp now owns 3,718,646 shares of the basic materials company’s stock worth $826,618,000 after buying an additional 396,778 shares during the period. Deutsche Bank AG lifted its stake in shares of Royal Gold by 71.4% during the fourth quarter. Deutsche Bank AG now owns 464,503 shares of the basic materials company’s stock worth $103,254,000 after buying an additional 193,448 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Royal Gold by 18.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,176,869 shares of the basic materials company’s stock valued at $261,624,000 after buying an additional 183,604 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Royal Gold by 17.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 981,548 shares of the basic materials company’s stock valued at $196,879,000 after acquiring an additional 148,367 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RGLD has been the topic of several analyst reports. Raymond James Financial set a $264.00 price objective on Royal Gold in a research note on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Gold in a research report on Thursday, January 22nd. TD Cowen increased their price target on Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Jefferies Financial Group reaffirmed a “buy” rating and set a $270.00 price objective on shares of Royal Gold in a research note on Sunday, December 7th. Finally, Zacks Research raised shares of Royal Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $251.50.

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.