Royal Gold Previews Q3: $318M Stream Sales, $250M Debt Repaid, $49M Buyback
RGLD sits 38% above its 52-week low of $168.88.
Summary
Royal Gold pre-released Q3 numbers ahead of its November 4 report: stream sales of $318.3M (74,700 GEOs at $834/GEO cost of sales) plus royalty sales of $143-149M, with DD&A of $80-84M. The company repaid $250M of debt, leaving only $150M drawn on its revolver with $1.25B undrawn, and bought back 190,045 shares for $49M at an average $259.83 — above today's $233 price. Stream sales came in below Q2's $450.5M total revenue base, though the two aren't directly comparable given Q2's outsized stream contribution; the debt paydown and buyback continue the aggressive capital return and deleveraging pattern from the May and August filings. Gold averaged $4,262/oz in the quarter, supporting the revenue base. Final Q3 results and the conference call land November 4-5, which will show whether royalty receipts hit the top of the range.
At the time of this announcement, RGLD was trading at $233.21 on NASDAQ in the Finance sector, with a market capitalization of approximately $20B. The 52-week trading range was $168.88 to $306.25. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.