Royal Gold Earnings: Here’s Why Investors Like These Results
Royal Gold, Inc. (NASDAQ:RGLD) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.8%.
Royal Gold, Inc. Earnings Cheat Sheet
Revenue: Decreased 4.67% to $57.3 million from the year-earlier quarter.
Quoting Management: Tony Jensen, President and CEO, commented, “Royal Gold is reporting record annual revenue today despite a lower gold price, due to production increases at several of our principal properties in fiscal 2013. We expect to build on this success and enter a new phase of growth as Mt. Milligan begins processing ore this month, and as we continue to look for opportunities to put our $1 billion in available liquidity to work for our shareholders on other quality properties. In addition, we have acquired a royalty at El Morro, which is among the world’s highest grade undeveloped gold and copper porphyries with reserves of 9.5 million ounces of gold and 7 billion pounds of copper.”
Key Stats (on next page)…
Revenue decreased 22.75% from $74.17 million in the previous quarter.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)