Yahoo Finance Royal Gold (RGLD) Earnings Miss Estimates in Q1, Dip Y/Y
Royal Gold, Inc. RGLD 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.
Including one-time items, the company reported EPS of 72 cents compared with the prior-year quarter’s 97 cents.
The company generated revenues of $149 million, reflecting year-over-year dip 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.
Royal Gold, Inc. Price, Consensus and EPS Surprise
Royal Gold, Inc. price-consensus-eps-surprise-chart | Royal Gold, Inc. Quote
Stream revenues were $103 million and royalty revenues were $46 million in the March-end quarter. On a year-over-year basis, stream revenues fell 10.9%, whereas royalty revenues decreased 16.2%.
The company’s cost of sales came in at $22 million in the first quarter compared with the prior-year quarter’s $25 million.
General and administrative expenses amounted to $11 million, up 3.6% year over year. The adjusted EBITDA was $117 million in the reported quarter, down 13.2% year over year. The adjusted EBITDA margin came in at 79%, flat year-over-year.
Financial Position
Net cash from operating activities was $138 million in the first quarter compared with the prior-year quarter’s $109 million. Royal Gold ended the quarter with cash and cash equivalents of around $138 million compared with $127 million at the end of Mar 31, 2023.
Price Performance
In the past year, shares of Royal Gold have lost 6.4% against the industry’s growth of 3.4%.
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Zacks Rank
Royal Gold currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Peer Stocks
Barrick Gold Corporation GOLD recorded net earnings (on a reported basis) of $295 million or 17 cents per share in first-quarter 2024. The figure improved from $120 million or 7 cents per share in the year-ago quarter.
Barrick recorded total sales of $2,747 million, up 4% year over year. The figure missed the Zacks Consensus Estimate of $2,932 million.
Agnico Eagle Mines Limited AEM reported adjusted earnings of 76 cents per share in first-quarter 2024, up from 57 cents in the year-ago quarter. The bottom line topped the Zacks Consensus Estimate of 60 cents.
AEM generated revenues of $1,829.8 million, up nearly 21% year over year. The top line surpassed the Zacks Consensus Estimate of $1,622 million.
Galiano Gold Inc. GAU reported an adjusted loss of 2 cents per share in first-quarter 2024, in line with the Zacks Consensus Estimate. It reported adjusted earnings of 4 cents in the year-ago quarter.
Galiano Gold generated revenues of $32 million in the quarter.
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