Royal Gold posts record Q3 revenue, but misses estimates

Royal Gold

05/11/2025 22:10

Overview

Royal Gold missed analysts' expectations for Q3 revenue despite record figure

Adjusted net income for Q3 missed analyst expectations

Company completed acquisitions of Sandstorm Gold and Horizon Copper

Outlook

Royal Gold maintains 2025 guidance for metal sales and tax rates

Company expects to repay credit facility balance by mid-2027

Royal Gold anticipates growth from Sandstorm and Horizon acquisitions

Result Drivers

HIGH METAL PRICES - Royal Gold's Q3 revenue was driven by higher gold and silver prices, benefiting from record gold prices

ACQUISITIONS - Company completed acquisitions of Sandstorm Gold and Horizon Copper, enhancing portfolio scale and diversification

MOUNT MILLIGAN EXTENSION - Extension of Mount Milligan mine life to 2045 supports long-term growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$252.10 mln
$275.10 mln (1 Analyst)
Q3 Adjusted Net Income
Miss
$136.20 mln
$154.70 mln (1 Analyst)
Q3 Net Income
$126.80 mln
Q3 Adjusted Free Cash Flow
$174 mln
Q3 Dividend
$0.45


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the gold peer group is "buy"

Wall Street's median 12-month price target for Royal Gold Inc is $250.00, about 32.4% above its November 4 closing price of $169.08

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 19 three months ago

Press Release: ID:nBw1ZX6dPa

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)