Royal Gold, Inc. (RGLD - Free Report) provided an update on its first-quarter fiscal 2017 (ended Sep 30, 2016) on Oct 4. Per the update, the company’s stream segment sales along with inventory for gold and silver recorded a rise on a year over year basis.
During the quarter, Royal Gold’s wholly owned subsidiary, RGLD Gold AG sold approximately 60,000 ounces of gold and 323,000 ounces of silver under its streaming agreements. The company ended the quarter with 24,000 ounces of gold and 544,000 ounces of silver in its inventory.
Average realized gold and silver prices were a respective $1,329 and $19.52 per ounce sold. On a year over year basis, average realized gold increased 6% while average realized silver prices gained 19%.
In the quarter, cost of sales was roughly $352 per gold equivalent ounce based on the quarterly average silver-gold ratio of approximately 68 to 1, up from $344 per gold equivalent ounce in the prior quarter. Royal Gold will release its first-quarter results before the market opens on Nov 3, 2016.
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