Overview

* Royal Gold ( RGLD ) 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 ( RGLD ) maintains 2025 guidance for metal sales and tax rates

* Company expects to repay credit facility balance by mid-2027

* Royal Gold ( RGLD ) anticipates growth from Sandstorm and Horizon acquisitions

Result Drivers

* HIGH METAL PRICES - Royal Gold's ( RGLD ) 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/Mis Actual Consensu

s s

Estimate

Q3 Miss $252.10 $275.10

Revenue mln mln (1

Analyst)

Q3 Miss $136.20 $154.70

Adjusted mln mln (1

Net Analyst)

Income

Q3 Net $126.80

Income mln

Q3 $174 mln

Adjusted

Free

Cash

Flow

Q3 $0.45

Dividend

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 ( RGLD ) 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:

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(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.)