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 Q3
Read MoreHide Full Article
Royal Gold, Inc. (RGLD - Free Report) issued a stream sales update for third-quarter 2023. In the quarter, RGLD Gold AG — the fully-owned subsidiary of Royal Gold — sold 51,300 gold equivalent ounces (GEOs), comprising 37,500 gold ounces, 613,700 silver ounces and 1,500 tons of copper related to its streaming agreements.
The average realized price of gold was $1,933 per ounce in the third quarter compared with $1,983 per ounce in second-quarter 2023 . The average realized price of silver stood at $23.50 per ounce, down from the second quarter’s $24.01. Average realized copper prices were $8,241 per ton, down 5.5% sequentially. The company ended the quarter with 18,600 ounces of gold, and 269,600 ounces of silver in inventory.
In the three months ended Sep 30, 2023, the cost of sales was $416 per GEO compared with the prior quarter’s $436 per GEO.
Royal Gold reported adjusted earnings per share of 88 cents in second-quarter 2023, in line with the Zacks Consensus Estimate. The bottom line increased 9% year over year.
The company generated revenues of $144 million, down 1.4% year over year. The downside resulted primarily from declines in gold sales at Andacollo, copper sales at Mount Milligan, and gold and silver production at Peñasquito.
Price Performance
In the past year, shares of Royal Gold have gained 13.3% compared with the industry’s growth of 19.4%.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
Royal Gold currently carries a Zacks Rank #2 (Buy).
Yara International has an average trailing four-quarter earnings surprise of 56%. The Zacks Consensus Estimate for YARIY’s fiscal 2023 earnings is pegged at $1.27 per share. The consensus estimate for 2023 earnings has moved 9% north in the past 60 days. Its shares gained 5.2% in the last year.
Carpenter Technology has an average trailing four-quarter earnings surprise of 10%. The Zacks Consensus Estimate for CRS’s fiscal 2024 earnings is pegged at $3.48 per share. The consensus estimate for 2023 earnings has moved 8% north in the past 60 days. Its shares gained 109.6% in the last year.
L.B. Foster has an average trailing four-quarter earnings surprise of 134.5%. The Zacks Consensus Estimate for FSTR’s 2023 earnings is pegged at 53 cents per share. Earnings estimates have been unchanged in the past 60 days. FSTR’s shares gained 98.4% in the last year.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Royal Gold (RGLD) Issues Stream Segment Sales Update for Q3
Royal Gold, Inc. (RGLD - Free Report) issued a stream sales update for third-quarter 2023. In the quarter, RGLD Gold AG — the fully-owned subsidiary of Royal Gold — sold 51,300 gold equivalent ounces (GEOs), comprising 37,500 gold ounces, 613,700 silver ounces and 1,500 tons of copper related to its streaming agreements.
The average realized price of gold was $1,933 per ounce in the third quarter compared with $1,983 per ounce in second-quarter 2023 . The average realized price of silver stood at $23.50 per ounce, down from the second quarter’s $24.01. Average realized copper prices were $8,241 per ton, down 5.5% sequentially. The company ended the quarter with 18,600 ounces of gold, and 269,600 ounces of silver in inventory.
In the three months ended Sep 30, 2023, the cost of sales was $416 per GEO compared with the prior quarter’s $436 per GEO.
Royal Gold reported adjusted earnings per share of 88 cents in second-quarter 2023, in line with the Zacks Consensus Estimate. The bottom line increased 9% year over year.
The company generated revenues of $144 million, down 1.4% year over year. The downside resulted primarily from declines in gold sales at Andacollo, copper sales at Mount Milligan, and gold and silver production at Peñasquito.
Price Performance
In the past year, shares of Royal Gold have gained 13.3% compared with the industry’s growth of 19.4%.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
Royal Gold currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the basic materials space are Yara International ASA (YARIY - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and L.B. Foster Company (FSTR - Free Report) . YARIY sports a Zacks Rank #1 (Strong Buy) at present, and CRS and FSTR carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Yara International has an average trailing four-quarter earnings surprise of 56%. The Zacks Consensus Estimate for YARIY’s fiscal 2023 earnings is pegged at $1.27 per share. The consensus estimate for 2023 earnings has moved 9% north in the past 60 days. Its shares gained 5.2% in the last year.
Carpenter Technology has an average trailing four-quarter earnings surprise of 10%. The Zacks Consensus Estimate for CRS’s fiscal 2024 earnings is pegged at $3.48 per share. The consensus estimate for 2023 earnings has moved 8% north in the past 60 days. Its shares gained 109.6% in the last year.
L.B. Foster has an average trailing four-quarter earnings surprise of 134.5%. The Zacks Consensus Estimate for FSTR’s 2023 earnings is pegged at 53 cents per share. Earnings estimates have been unchanged in the past 60 days. FSTR’s shares gained 98.4% in the last year.