Company Overview - Royal Gold (RGLD) currently holds a Momentum Style Score of B, indicating a favorable position in momentum investing [3] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [4] Performance Metrics - RGLD shares have increased by 34.33% over the past quarter and 56.47% over the last year, significantly outperforming the S&P 500, which has moved -14.46% and 5.35% respectively during the same periods [7] - Over the past week, RGLD shares rose by 2.96%, while the Zacks Mining - Gold industry saw a 2.54% increase [6] Trading Volume - The average 20-day trading volume for RGLD is 710,147 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the last two months, 3 earnings estimates for RGLD have been revised upwards, while 1 estimate was revised downwards, leading to an increase in the consensus estimate from $6.20 to $6.68 [10] - For the next fiscal year, there have been 2 upward revisions and 1 downward revision in earnings estimates [10]

Gold Market Overview - Gold price has surged by almost 30% this year, nearing the resistance point at $3,500, with analysts predicting it could reach $3,700 or even $4,000 [1][2] Company Analysis - **Wheaton Precious Metals Corp (WPM)**: - Best gold stock to buy, with a stock price increase of 51% this year and 145% over the last five years, outperforming gold [3] - Generated over $1.28 billion in annual revenue and a net profit of over $552 million last year, using profits to pay shareholders and acquire more rights to gold mines [4] - Trades at a forward P/E ratio of 41, higher than major growth companies like NVIDIA and Microsoft [4] - **Franco-Nevada (FNV)**: - Another quality gold stock, financing gold mining companies in exchange for royalties, ensuring low operating expenses [5] - Generated over $1.1 billion in annual revenue and a net income of $552 million last year, with a forward P/E ratio over 40 [6] - **Royal Gold (RGLD)**: - Offers exposure to gold without operating mines, generating $712 million in revenue and a net profit of nearly $350 million last year, resulting in a margin of nearly 50% [7] - Stock price has surged by over 56% in the last 12 months, with a P/E multiple of 28, making it cheaper than Wheaton and Franco-Nevada [8] Investment Vehicles - **Gold ETFs**: - SPDR Gold Shares (GLD) and iShares Gold Trust (IAU) are popular options, with IAU recommended due to its lower expense ratio of 0.25% compared to GLD's 0.40% [9] - Analysts also recommend gold mining ETFs like VanEck Vectors Gold Miners ETF (GDX), Sprott Gold Miners ETF (SGDM), and iShares MSCI Global Gold Miners ETF (RING) [10]

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Royal Gold, Inc. (RGLD) issued a stream segment sales update for first-quarter 2025. In the quarter, RGLD Gold AG — the fully-owned subsidiary of Royal Gold — sold 42,800 gold equivalent ounces (GEOs), comprising 33,300 ounces of gold, 597,400 ounces of silver and 1,000 tons of copper related to its streaming agreements.This marks a dip from 46,900 GEOs sold in the fourth quarter of 2024 and 49,500 GEOs sold in the first quarter of 2024.RGLD Sees Q/Q Rise in Gold Price, Silver & Copper DipThe average realiz ...

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Core Viewpoint - Royal Gold (RGLD) shares have remained relatively stable, adding about 0% over the past month, outperforming the S&P 500 [1] Earnings Report Summary - The most recent earnings report is crucial for understanding the key drivers affecting Royal Gold's performance [1] Estimates Movement - Fresh estimates for Royal Gold have flatlined over the past month, with the consensus estimate shifting down by 9.69% [2] VGM Scores - Royal Gold currently holds an average Growth Score of C, a Momentum Score of D, and a Value Score of D, placing it in the bottom 40% for the value investment strategy. The overall aggregate VGM Score is F, indicating a lack of focus on any single investment strategy [3] Outlook - Royal Gold has a Zacks Rank of 3 (Hold), suggesting an expectation of an in-line return from the stock in the upcoming months [4]

Core Insights - Royal Gold, Inc. (RGLD) reached a new 52-week high of $156.35, closing at $152.20, driven by rising gold prices and strong Q4 2024 results [1] Financial Performance - RGLD reported adjusted earnings per share of $1.63 for Q4 2024, exceeding the Zacks Consensus Estimate of $1.49, marking a 72% year-over-year increase [2] - The company generated revenues of $203 million in Q4 2024, up 32.7% year-over-year, attributed to higher average metal prices and increased gold sales from various mines [2] - For the full year 2024, RGLD achieved adjusted earnings per share of $5.26, surpassing the Zacks Consensus Estimate of $5.16, with a 49% increase from 2023 [3] - Total revenues for 2024 reached approximately $719 million, reflecting an 18.8% year-over-year growth [3] Financial Position - Royal Gold is now debt-free, with total liquidity of $1.2 billion as of December 31, 2024, which includes $190 million in working capital and $1 billion available under a revolving credit facility [4] - The company announced a 13% dividend increase effective January 17, 2025, raising the payout to 45 cents per share from 40 cents [5] - In 2024, RGLD repaid $250 million of debt, effectively eliminating its total debt, allowing for portfolio strengthening [5] Market Trends - Gold prices have been on an upward trend, breaking through the $2,900-per-ounce threshold, currently around $2,906, driven by geopolitical tensions and safe-haven demand [6] - Silver prices are approximately $32 per ounce, supported by steady demand in the electrification industry and manufacturing sector expansion [7] - The increase in gold and silver prices is expected to positively impact Royal Gold's results in upcoming quarters [7] Stock Performance - Over the past year, Royal Gold shares have gained 34.1%, compared to the industry's growth of 38.8% [8]

Financial Data and Key Metrics Changes - For the full year 2024, revenue reached $719 million, operating cash flow was $530 million, and net income was $332 million, representing increases of 19%, 27%, and 39% respectively compared to 2023 [8] - Adjusted earnings for the year were $346 million or $5.26 per share, with an adjusted EBITDA margin of just over 81% for the year and nearly 84% for the fourth quarter [9][10] - The company ended the year with no debt and approximately $1.2 billion in available liquidity [11][49] Business Line Data and Key Metrics Changes - Gold contributed approximately 76% of total revenue, with almost 60% generated from the US, Canada, and Australia [9] - Royalty revenue increased by about 43% year-over-year to $78 million, contributing about 38% of total revenue, while stream segment revenue was $125 million, up by about 27% [24][41] - Silver sales were slightly lower than guidance due to lower deliveries from Pointe Lo Viejo, while gold sales exceeded expectations due to strong performance from Penasquito and Cortez royalties [13][14] Market Data and Key Metrics Changes - The company noted that gold prices remained a significant driver of revenue, with gold and silver prices up 35% and copper up 13% year-over-year [41] - The company has a strong position in the royalty and streaming sector, with the highest gold revenue percentage compared to peers [41] Company Strategy and Development Direction - The company plans to continue focusing on high-quality assets with upside potential, while remaining open to opportunistic investments in non-precious metals [16][52] - The acquisition of the Cactus Royalty is seen as an opportunistic purchase rather than a strategic shift away from precious metals [16] - The company aims to leverage its strong balance sheet and cash flow to compete for growth opportunities [52] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the uncertain global geopolitical and macroeconomic outlook, which may bias risk in gold prices to the upside [51] - The company anticipates providing full-year 2025 guidance in mid to late March, with expectations that guidance ranges will be similar to 2024 [51][47] Other Important Information - The company paid over $105 million back to shareholders in dividends and raised its annual dividend to $1.80 per share for 2025, marking the 24th consecutive annual dividend increase [10] - New revenue sources were noted from MarRosa, Manchow, and Cote gold mines, which each poured first gold during 2024 [11] Q&A Session Summary Question: Insights on Cortez and its growth potential - Management acknowledged the complexity of the Cortez royalty structure and indicated that they would provide more clarity in the upcoming guidance [55][56] Question: Impact of the Pueblo Viejo shutdown on deliveries - Management explained that the timing of the shutdown would affect deliveries and sales, with a lag of three to five months between production and sales [62][64] Question: Comments on the Cactus acquisition and revenue mix - Management expressed satisfaction with the current revenue mix, emphasizing a focus on precious metals while remaining open to other opportunities [73][75] Question: Capital allocation and deal pipeline - Management indicated that while there may be more capital than immediate opportunities, they remain open to transactions in the $100 to $300 million range and are cautious about future deal forecasts [134][135]

Factors that could cause actual results to differ materially from these forward-looking statements include, among others, the following: changes in the price of gold, silver, copper, or other metals; operating activities or financial performance of properties on which we hold stream or royalty interests, including variations between actual and forecasted performance, operators' ability to complete projects on schedule and as planned, operators' changes to mine plans and mineral reserves and mineral resource ...

Core Insights - Royal Gold, Inc. (RGLD) reported strong financial performance in Q4 2024, with adjusted EPS of $1.63, surpassing the Zacks Consensus Estimate of $1.49, marking a 72% year-over-year increase [1] - The company generated revenues of $203 million in Q4 2024, reflecting a 32.7% year-over-year growth, driven by higher metal prices and increased gold sales from various mines [2] - RGLD's adjusted EBITDA reached $169.6 million in Q4 2024, up 39.1% year over year, with an EBITDA margin of 83.8% compared to 79.9% in the prior year [4] Financial Performance - The company reported stream revenues of $125 million in Q4 2024, an increase from $98 million year over year, while royalty revenues rose to $78 million, up 43.3% year over year [3] - For the full year 2024, RGLD achieved record revenues of approximately $719 million, an 18.8% increase from 2023, although it fell short of the Zacks Consensus Estimate of $731.3 million [6] - Net cash from operating activities was $141 million in Q4 2024, up from $101 million in the same quarter last year, with cash and cash equivalents at $195.5 million compared to $104.2 million at the end of Q4 2023 [5] Future Outlook - The company anticipates stream segment sales of 40,000-45,000 GEOs for the March-end quarter of 2025 [7] Stock Performance - Over the past year, Royal Gold's shares have increased by 38.6%, while the industry has seen a growth of 60.6% [8]