Royal Gold Provides Update on Q3 2024 Stream Segment Sales and Details for Release of Q3 2024 Results

Rhea-AI Summary

Royal Gold (NASDAQ: RGLD) reported its Q3 2024 stream segment sales, with approximately 53,800 gold equivalent ounces (GEOs) sold. This comprised 40,700 ounces of gold, 688,200 ounces of silver, and 1,400 tonnes of copper. The company's inventory as of September 30, 2024, included 17,000 ounces of gold, 219,100 ounces of silver, and 400 tonnes of copper.

Average realized prices for the quarter were $2,459 per ounce of gold, $29.10 per ounce of silver, and $9,141 per tonne of copper. The cost of sales was approximately $506 per GEO. Royal Gold will release its Q3 2024 results on November 6, 2024, followed by a conference call on November 7, 2024. As of September 30, 2024, the company held interests in 175 properties across five continents, including 40 producing mines and 19 development stage projects.

Positive

• Sold approximately 53,800 gold equivalent ounces (GEOs) in Q3 2024
• Average realized gold price of $2,459 per ounce, significantly higher than the market average
• Diverse portfolio with interests in 175 properties across five continents

Negative

• Cost of sales at $506 per GEO, which may impact profit margins

Insights

Financial Analyst

Royal Gold's Q3 2024 update reveals solid operational performance with approximately 53,800 GEOs sold, comprising 40,700 oz of gold, 688,200 oz of silver and 1,400 tonnes of copper. The company's realized prices were strong, with gold at $2,459/oz, silver at $29.10/oz and copper at $9,141/tonne. The cost of sales at $506 per GEO indicates efficient operations. With a diverse portfolio of 175 properties, including 40 producing mines, Royal Gold maintains a robust position in the precious metals streaming sector. The company's inventory levels and upcoming earnings release suggest a stable financial situation. However, investors should note that while these figures are positive, they represent only a snapshot and should be compared to previous quarters and industry benchmarks for a comprehensive evaluation.

Market Research Analyst

This update from Royal Gold offers valuable insights into the current state of precious metals markets. The realized prices for gold, silver and copper all indicate strong market conditions, which bodes well for the entire sector. The 24.3% premium on gold prices compared to the London PM fixing price suggests Royal Gold's streaming agreements are particularly favorable. The company's diverse portfolio across five continents provides significant risk mitigation. Investors should pay close attention to the upcoming Q3 results for a more comprehensive picture of Royal Gold's performance within the context of global economic conditions and precious metals demand. The steady stream of production and sales data indicates consistency in operations, which is typically viewed positively by the market.

DENVER--(BUSINESS WIRE)-- Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) announced today that its wholly owned subsidiary, RGLD Gold AG, sold approximately 53,800 gold equivalent ounces (GEOs)¹ comprised of approximately 40,700 ounces of gold, 688,200 ounces of silver and 1,400 tonnes of copper related to its streaming agreements during the three-month period ended September 30, 2024 (the “third quarter”). The Company had approximately 17,000 ounces of gold, 219,100 ounces of silver, and 400 tonnes of copper in inventory at September 30, 2024.

RGLD Gold AG’s average realized gold, silver and copper prices for the third quarter were $2,459 per ounce, $29.10 per ounce and $9,141 per tonne ($4.15 per pound), respectively. Cost of sales was approximately $506 per GEO for the third quarter. Cost of sales is specific to the Company’s streaming agreements and is the result of the Company’s purchase of gold, silver or copper for cash payments at a set contractual price, or a percentage of the prevailing market price of gold, silver or copper when purchased.

Details for Q3 2024 Results Release

Royal Gold’s results for the quarter ended September 30, 2024, will be released after the market closes on Wednesday, November 6, 2024, followed by a conference call on Thursday, November 7, 2024, at 1:00 p.m. Eastern Time (11:00 a.m. Mountain Time). The call will be webcast and archived on the Company’s website for a limited time.   Third Quarter 2024 Call Information:
Dial-In	833-470-1428 (U.S.); toll free
Numbers:	833-950-0062 (Canada); toll free 929-526-1599 (International)
Access Code:	506691
Webcast URL:	www.royalgold.com under Investors, Events & Presentations

Corporate Profile

Royal Gold is a precious metals stream and royalty company engaged in the acquisition and management of precious metal streams, royalties and similar production-based interests. As of September 30, 2024, the Company owned interests on 175 properties on five continents, including interests on 40 producing mines and 19 development stage projects. Royal Gold is publicly traded on the Nasdaq Global Select Market under the symbol “RGLD.” The Company’s website is located at www.royalgold.com.

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¹ GEOs are calculated as Royal Gold’s revenue divided by the average London PM gold fixing price for the quarter ended September 30, 2024, of $2,474 per ounce.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241008513756/en/

For further information, please contact:

Alistair Baker

Senior Vice President, Investor Relations and Business Development

(303) 573-1660

Source: Royal Gold

FAQ

What were Royal Gold's (RGLD) Q3 2024 stream segment sales?

Royal Gold's Q3 2024 stream segment sales were approximately 53,800 gold equivalent ounces (GEOs), comprising 40,700 ounces of gold, 688,200 ounces of silver, and 1,400 tonnes of copper.

What was Royal Gold's (RGLD) average realized gold price in Q3 2024?

Royal Gold's average realized gold price in Q3 2024 was $2,459 per ounce.

When will Royal Gold (RGLD) release its Q3 2024 financial results?

Royal Gold will release its Q3 2024 financial results after the market closes on Wednesday, November 6, 2024.

How many properties does Royal Gold (RGLD) have interests in as of September 30, 2024?

As of September 30, 2024, Royal Gold had interests in 175 properties across five continents, including 40 producing mines and 19 development stage projects.