Royal Gold's Q3 Stream Segment Sales Volume Up 18% Sequentially

Core Insights - Royal Gold, Inc. (RGLD) reported a sales update for Q3 2025, with 48,000 gold equivalent ounces (GEOs) sold, an increase from 40,600 GEOs in Q2 2025 but a decrease from 53,800 GEOs in Q3 2024 [1] - The average realized prices for gold, silver, and copper increased in Q3 2025 compared to Q2 2025, with gold at $3,415 per ounce, silver at $37.90 per ounce, and copper at $9,660 per ton [2][3] - The cost of sales for RGLD was $653 per GEO in Q3 2025, up from $596 in the previous quarter [3] Revenue Performance - In Q2 2025, Royal Gold achieved record revenues of $210 million, a 20.4% year-over-year increase, primarily driven by higher metal prices and production from Peñasquito and Manh Choh [4] - Stream revenues were $133 million and royalty revenues were $77 million in Q2 2025, with stream revenues increasing by 8.3% year-over-year and royalty revenues improving by 49.7% [5] - The consensus estimate for RGLD's Q3 earnings is $2.19, up from $1.47 in Q3 2024, indicating a positive outlook despite lower sales compared to the prior year [6][8] Stock Performance - Over the past year, RGLD's shares have increased by 36.9%, while the industry has seen a growth of 86.6% [7]