Core Insights - Royal Gold, Inc. (RGLD) shares reached a new 52-week high of $224.77, closing at $218.75, driven by near-record gold prices [1][11] - The company has a market capitalization of $18.5 billion and holds a Zacks Rank 1 (Strong Buy) [1] Financial Performance - In Q3 2025, RGLD reported adjusted earnings per share (EPS) of $2.06, up from $1.47 in the same quarter last year [2] - The company generated record revenues of $252 million, reflecting a 30% year-over-year increase, attributed to higher average metal prices and increased production [2] - Stream revenues were $166 million, a 24.8% increase year-over-year, while royalty revenues rose to $86 million, up 41.5% [3] Financial Position - Royal Gold's total liquidity exceeded $813 million as of September 30, 2025, comprising $188 million in working capital and $625 million available under a revolving credit facility [4] - The company has a total debt of $750 million [4] Strategic Moves - In November 2025, Royal Gold's subsidiary, International Royalty Corporation, sold shares of Versamet Royalties Corporation, aiding in debt repayment [5] - On October 20, 2025, Royal Gold acquired Sandstorm Gold Ltd. and Horizon Copper Corp., adding 40 producing assets to its portfolio [6][7] - The acquisitions are expected to increase gold equivalent ounces (GEO) production by 26% in 2025, with anticipated GEO production of 65,000-80,000 [7] Market Conditions - Gold prices have surged 63.9% year-to-date, currently trending near a record $4,345 per ounce, supported by geopolitical tensions and central bank purchases [8] - Silver prices have increased by 90.8% year-to-date, driven by strong demand and supply deficits, currently trading above $63 [9] - The rise in gold and silver prices is expected to positively impact Royal Gold's results in upcoming quarters [9]