Royal Gold's (RGLD) Q2 Earnings And Sales Miss Estimates
Zacks Investment Research | Feb 05, 2020 10:06PM ET
Royal Gold, Inc. (NASDAQ:RGLD) reported earnings per share of 63 cents in second-quarter fiscal 2020 (ended Dec 30, 2019) missing the Zacks Consensus Estimate of 64 cents by a whisker. The company had reported earnings per share of 36 cents in the prior-year quarter.
The company generated revenues of $123.6 million, up 26.7% year over year. This can be attributed to increase in stream revenues and higher average gold and silver prices. However, the top line missed the Zacks Consensus Estimate of $134 million. Stream revenues came in at $89.6 million, up from the year-ago quarter’s $67.7 million, driven by improvement in gold sales at Andacollo, Pueblo Viejo and Rainy River mine, and higher copper sales at Mount Milligan. However, the gain was partly offset by lower gold sales at Mount Milligan primarily due to timing of deliveries.
The company is focused on a disciplined capital allocation approach, while strengthening balance sheet by paying down debt. Further, strong operating cash flow enabled the company to raise dividend to $1.12 per share for 19th consecutive year. During the reported quarter, Royal Gold witnessed positive developments in Khoemacau project, and solid operating results at Mount Milligan and Rainy River mines.
Royal Gold, Inc. Price, Consensus and EPS Surprise
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