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Royal Gold (RGLD) Issues Stream Segment Sales Update for Q2
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Royal Gold, Inc. (RGLD - Free Report) issued a stream segment sales update for second-quarter 2024. In the quarter, RGLD Gold AG — the fully-owned subsidiary of Royal Gold — sold 52,600 gold equivalent ounces (GEOs), comprising 39,200 ounces of gold, 593,200 ounces of silver and 1,500 tons of copper related to its streaming agreements.
The average realized price of gold was $2,339 per ounce in the second quarter compared with $2,054 per ounce in first-quarter 2024. The average realized price of silver stood at $28.46 per ounce, up from the fourth quarter’s $23.22. Average realized copper prices were $9,475 per ton, up 12.1% sequentially. The company ended the quarter with 12,000 ounces of gold, and 450,500 ounces of silver in inventory.
In the quarter, the cost of sales was $459 per GEO compared with the prior quarter’s $436 per GEO.
Royal Gold reported adjusted earnings per share (EPS) of 91 cents in first-quarter 2024, missing the Zacks Consensus Estimate of 95 cents. The bottom line declined 5% year over year.
The company generated revenues of $149 million, reflecting a year-over-year dip of 12.6%. The downside was driven by lower gold production at the Cortez Legacy Zone, lower gold and copper sales at Mount Milligan, and lower gold and silver sales at Pueblo Viejo. These were negated by increased average gold and silver prices, and higher year-over-year gold sales from Wassa and Xavantina.
The Zacks Consensus Estimate for the company’s second-quarter earnings is pegged at $1.16. Notably, it reported earnings of 88 cents in the second quarter of 2023.
Price Performance
In the past year, RGLD shares have gained 13.8% compared with the industry’s growth of 21.2%.
The Zacks Consensus Estimate for Ero Copper’s 2024 earnings is pegged at $1.66 per share. The consensus estimate for 2024 earnings has moved 20.3% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 53.9%. ERO shares have gained 9.5% in a year.
The Zacks Consensus Estimate for Ecolab’s 2024 earnings is pegged at $6.59 per share, indicating an increase of 26.5% from the prior year’s reported number. It has an average trailing four-quarter earnings surprise of 1.3%. ECL shares have gained 34.5% in a year.
The Zacks Consensus Estimate for ATI’s 2024 earnings is pegged at $2.41 per share. The Zacks Consensus Estimate for ATI’s current-year earnings has been revised 3% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 8.3%. The company’s shares have rallied 65.9% in the past year.
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Royal Gold (RGLD) Issues Stream Segment Sales Update for Q2
Royal Gold, Inc. (RGLD - Free Report) issued a stream segment sales update for second-quarter 2024. In the quarter, RGLD Gold AG — the fully-owned subsidiary of Royal Gold — sold 52,600 gold equivalent ounces (GEOs), comprising 39,200 ounces of gold, 593,200 ounces of silver and 1,500 tons of copper related to its streaming agreements.
The average realized price of gold was $2,339 per ounce in the second quarter compared with $2,054 per ounce in first-quarter 2024. The average realized price of silver stood at $28.46 per ounce, up from the fourth quarter’s $23.22. Average realized copper prices were $9,475 per ton, up 12.1% sequentially. The company ended the quarter with 12,000 ounces of gold, and 450,500 ounces of silver in inventory.
In the quarter, the cost of sales was $459 per GEO compared with the prior quarter’s $436 per GEO.
Royal Gold reported adjusted earnings per share (EPS) of 91 cents in first-quarter 2024, missing the Zacks Consensus Estimate of 95 cents. The bottom line declined 5% year over year.
The company generated revenues of $149 million, reflecting a year-over-year dip of 12.6%. The downside was driven by lower gold production at the Cortez Legacy Zone, lower gold and copper sales at Mount Milligan, and lower gold and silver sales at Pueblo Viejo. These were negated by increased average gold and silver prices, and higher year-over-year gold sales from Wassa and Xavantina.
The Zacks Consensus Estimate for the company’s second-quarter earnings is pegged at $1.16. Notably, it reported earnings of 88 cents in the second quarter of 2023.
Price Performance
In the past year, RGLD shares have gained 13.8% compared with the industry’s growth of 21.2%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Royal Gold currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are Ero Copper Corp. (ERO - Free Report) , Ecolab Inc. (ECL - Free Report) and ATI Inc. (ATI - Free Report) . ERO sports a Zacks Rank #1 (Strong Buy) at present, and ECL and ATI have a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Ero Copper’s 2024 earnings is pegged at $1.66 per share. The consensus estimate for 2024 earnings has moved 20.3% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 53.9%. ERO shares have gained 9.5% in a year.
The Zacks Consensus Estimate for Ecolab’s 2024 earnings is pegged at $6.59 per share, indicating an increase of 26.5% from the prior year’s reported number. It has an average trailing four-quarter earnings surprise of 1.3%. ECL shares have gained 34.5% in a year.
The Zacks Consensus Estimate for ATI’s 2024 earnings is pegged at $2.41 per share. The Zacks Consensus Estimate for ATI’s current-year earnings has been revised 3% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 8.3%. The company’s shares have rallied 65.9% in the past year.