We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Royal Gold (RGLD) Issues Stream Segment Sales Update for Q2
Read MoreHide Full Article
Royal Gold, Inc. (RGLD - Free Report) issued a stream sales update for second-quarter 2022. During the quarter, RGLD Gold AG — the fully-owned subsidiary of Royal Gold — sold 56,100 gold equivalent ounces (GEOs), comprising 40,200 gold ounces, 550,000 silver ounces and 1,800 tons of copper related to its streaming agreements.
The average realized price of gold was $1,876 per ounce in the second quarter compared with $1,863 per ounce in the first-quarter 2022. The average realized price of silver stood at $23.44 per ounce, up from the first quarter’s $23.38. Average realized copper prices were $9,124 per ton, down 9.3% quarter over quarter. The company ended the quarter with 28,800 gold-equivalent ounces in inventory, including 24,000 ounces of gold and 403,100 silver ounces.
During the three months ended Jun 30, 2022, the cost of sales came in at around $425 per gold equivalent ounce compared with the prior quarter’s tally of $401 per gold equivalent ounce. The cost of sales is based on the quarterly average silver-gold ratio of nearly 83 to 1 and the copper-gold ratio of around 0.20 tons per ounce.
Royal Gold expects a total GEO sales volume between 315,000 and 340,000 GEOs for the current year. Gold sales volume is expected in the band of 220,000-240,000 ounces, while sales for other metals are estimated in the range of 95,000-100,000 GEOs. The company’s GEO guidance assumes a current-year average gold price of $1,800 per ounce, silver price of $22.50 per ounce and copper, nickel, lead and zinc prices of $4.25, $8.50, $0.95 and $1.25 per pound, respectively.
The Zacks Consensus Estimate for Royal Gold’s earnings for the second quarter is pegged at 93 cents per share, indicating year over year decline of 10.6%. Revenue estimates for the quarter is pegged at $166 million, calling for a year-over-year fall of 1.2%.
Royal Gold is focused on allocating its strong cash flow to dividends, debt reduction and new business. The company remained debt-free with a total undrawn credit facility of $1 billion at the quarter’s end. It had total available liquidity of more than $1.2 billion as of Mar 31, 2022.
Royal Gold is a precious metals stream and royalty company engaged acquiring and managing precious metal streams, royalties and similar production-based interests. Its revenues are derived entirely from stream and royalty interests in properties owned and operated by third parties. As of Jun 30, 2022, the company owned interests in 185 properties on five continents, including interests in 41 producing mines and 19 development-stage projects.
Price Performance
Royal Gold’s shares have gained 5.7% in the past six months against the industry’s fall of 8.1%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Royal Gold currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space include American Vanguard Corporation (AVD - Free Report) , Cabot Corporation (CBT - Free Report) and Allegheny Technologies Inc. (ATI - Free Report) .
American Vanguard has a projected earnings growth rate of 72.1% for the current year. The Zacks Consensus Estimate for AVD’s current-year earnings has been revised 17% upward in the past 60 days. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
American Vanguard’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 33.9%. AVD has rallied roughly 36.7% in the past six months. The company flaunts a Zacks Rank #1.
Cabot, currently carrying a Zacks Rank #1, has an expected earnings growth rate of 22.5% for the current fiscal year. The Zacks Consensus Estimate for CBT's earnings for the current fiscal has been revised 6% upward in the past 60 days.
Cabot's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 16.2%. CBT has gained around 12.9% in the past six months.
Allegheny has a projected earnings growth rate of 1,076.9% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised upward by 40.4% in the past 60 days.
Allegheny's earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 128.9%. ATI has gained around 17.5% in the past six months. It currently sports a Zacks Rank #1.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Royal Gold (RGLD) Issues Stream Segment Sales Update for Q2
Royal Gold, Inc. (RGLD - Free Report) issued a stream sales update for second-quarter 2022. During the quarter, RGLD Gold AG — the fully-owned subsidiary of Royal Gold — sold 56,100 gold equivalent ounces (GEOs), comprising 40,200 gold ounces, 550,000 silver ounces and 1,800 tons of copper related to its streaming agreements.
The average realized price of gold was $1,876 per ounce in the second quarter compared with $1,863 per ounce in the first-quarter 2022. The average realized price of silver stood at $23.44 per ounce, up from the first quarter’s $23.38. Average realized copper prices were $9,124 per ton, down 9.3% quarter over quarter. The company ended the quarter with 28,800 gold-equivalent ounces in inventory, including 24,000 ounces of gold and 403,100 silver ounces.
During the three months ended Jun 30, 2022, the cost of sales came in at around $425 per gold equivalent ounce compared with the prior quarter’s tally of $401 per gold equivalent ounce. The cost of sales is based on the quarterly average silver-gold ratio of nearly 83 to 1 and the copper-gold ratio of around 0.20 tons per ounce.
Royal Gold expects a total GEO sales volume between 315,000 and 340,000 GEOs for the current year. Gold sales volume is expected in the band of 220,000-240,000 ounces, while sales for other metals are estimated in the range of 95,000-100,000 GEOs. The company’s GEO guidance assumes a current-year average gold price of $1,800 per ounce, silver price of $22.50 per ounce and copper, nickel, lead and zinc prices of $4.25, $8.50, $0.95 and $1.25 per pound, respectively.
The Zacks Consensus Estimate for Royal Gold’s earnings for the second quarter is pegged at 93 cents per share, indicating year over year decline of 10.6%. Revenue estimates for the quarter is pegged at $166 million, calling for a year-over-year fall of 1.2%.
Royal Gold is focused on allocating its strong cash flow to dividends, debt reduction and new business. The company remained debt-free with a total undrawn credit facility of $1 billion at the quarter’s end. It had total available liquidity of more than $1.2 billion as of Mar 31, 2022.
Royal Gold is a precious metals stream and royalty company engaged acquiring and managing precious metal streams, royalties and similar production-based interests. Its revenues are derived entirely from stream and royalty interests in properties owned and operated by third parties. As of Jun 30, 2022, the company owned interests in 185 properties on five continents, including interests in 41 producing mines and 19 development-stage projects.
Price Performance
Royal Gold’s shares have gained 5.7% in the past six months against the industry’s fall of 8.1%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Royal Gold currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space include American Vanguard Corporation (AVD - Free Report) , Cabot Corporation (CBT - Free Report) and Allegheny Technologies Inc. (ATI - Free Report) .
American Vanguard has a projected earnings growth rate of 72.1% for the current year. The Zacks Consensus Estimate for AVD’s current-year earnings has been revised 17% upward in the past 60 days. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
American Vanguard’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 33.9%. AVD has rallied roughly 36.7% in the past six months. The company flaunts a Zacks Rank #1.
Cabot, currently carrying a Zacks Rank #1, has an expected earnings growth rate of 22.5% for the current fiscal year. The Zacks Consensus Estimate for CBT's earnings for the current fiscal has been revised 6% upward in the past 60 days.
Cabot's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 16.2%. CBT has gained around 12.9% in the past six months.
Allegheny has a projected earnings growth rate of 1,076.9% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised upward by 40.4% in the past 60 days.
Allegheny's earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 128.9%. ATI has gained around 17.5% in the past six months. It currently sports a Zacks Rank #1.