William M. Hayes, a director at Royal Gold Inc. (NASDAQ:RGLD), recently sold 1,984 shares of common stock, according to a regulatory filing. The shares were sold at an average price of $147.05 each, amounting to a total transaction value of approximately $291,747. Following this sale, Hayes holds 9,268 shares directly. This transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission.
In other recent news, Royal Gold Inc. has reported a record revenue for Q3 2024, marking a significant increase from the previous year. The company's revenues hit a record $194 million, a 40% increase from the previous year. Additionally, operating cash flow and earnings per share saw substantial increases of 39% and 95%, respectively. The company is now in a robust financial position, having cleared its debt and boasting over $1.1 billion in liquidity.
However, while gold sales are expected to meet guidance, silver sales may fall short due to recovery issues. Despite these issues, the company remains optimistic about future deals, particularly in safe jurisdictions like the Americas and Australia. Royal Gold is also focusing on business development and maintaining disciplined due diligence standards.
The company has also made significant contributions from new producing assets, including Cote Gold and Mancha, which have bolstered revenues. The acquisition of Back River royalties aligns with the company's focus on quality projects in favorable jurisdictions. These are some of the recent developments in Royal Gold's operations.
InvestingPro Insights
While William M. Hayes's recent stock sale might raise eyebrows, a closer look at Royal Gold Inc. (NASDAQ:RGLD) reveals a company with solid financial footing and consistent performance. According to InvestingPro data, Royal Gold boasts a market capitalization of $9.22 billion and has demonstrated impressive revenue growth, with a 40.43% increase in quarterly revenue as of Q3 2024.
The company's financial health is further underscored by its robust gross profit margin of 85.83% over the last twelve months, reflecting efficient operations and strong pricing power in the precious metals streaming and royalty sector. This aligns with an InvestingPro Tip highlighting Royal Gold's "impressive gross profit margins."
Moreover, Royal Gold has shown commitment to shareholder returns, with an InvestingPro Tip noting that the company "has raised its dividend for 9 consecutive years." This dedication to dividend growth, coupled with a current dividend yield of 1.13%, may provide some reassurance to investors concerned about insider selling.
It's worth noting that despite the recent insider sale, Royal Gold's stock has performed well, with a one-year price total return of 35.14%. This positive momentum suggests that the market maintains confidence in the company's prospects, even as a director reduces his position.
For investors seeking a more comprehensive analysis, InvestingPro offers additional insights with 10 more tips available for Royal Gold, providing a deeper understanding of the company's financial position and market performance.
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