Royal Gold Inc. / RGLD (NAS)

    RGLD seit November 2021 stärker als
    - ein Korb der Minen (XAU), und
    - stärker als jede andere der nicht-kleinen Royalty-Gesellschaften, mit Ausnahme von TFPM.TO, die fulminant abgestürzt war und sich deutlich erholt hat.
    :thumbup: [smilie_blume]



    Gruß, GL

    Das Publikum... wendet sich von dem Gebrauche des durch die Umlaufmittelvermehrung kompromittierten Geldes ab, flüchtet zum ... Barrenmetall, zu den Sachwerten, zum Tauschhandel, kurz, die Währung bricht zusammen. (Ludwig von Mises)

    Gefällt mir 2

    Royal Gold Provides 2022 Guidance and Q1 2022 Stream Segment Sales Update
    https://www.businesswire.com/news/home/20220412005489/en/
    “With the transition to a calendar year reporting schedule now complete, we are pleased to provide our inaugural annual guidance, which will further improve the transparency of our business to the market,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “While our expectation for 2022 sales volume is lower than 2021 actual performance, it is worth noting that 2021 was an exceptional year with the three highest quarterly GEO volumes in the company’s history due to strong performance from several key assets across the portfolio.”
    Royal Gold expects 2022 total gold equivalent ounce1 (“GEO”) sales volume, depreciation, depletion and amortization (“DD&A”) expense and effective tax rate to be as follows:


    The 2022 total GEO sales guidance is based on public forecasts and disclosure of confidential forecasts to Royal Gold from our operating counterparties, and these forecasts have been adjusted by Royal Gold where appropriate based on management’s experience. Additionally, this guidance assumes:

    • The following commodity prices for 2022 GEO projections: $1,800/oz gold, $22.50/oz silver, $4.25/lb copper, $8.50/lb nickel, $0.95/lb lead, $1.25/lb zinc;
    • With respect to our Principal Properties:

      • Continued ramp-up of the Khoemacau mine to full production levels by the fourth quarter of 2022, and a 100% silver stream rate effective March 14, 2022. As previously noted in Royal Gold’s February earnings release, Khoemacau Copper Mining (Pty.) Limited advised that it intended to draw the remaining $26.5 million stream advance payment from Royal Gold in February 2022. The remaining advance was drawn and paid as of mid-March 2022. As a result, Royal Gold’s interest in the payable silver from Khoemacau increased from 90% to 100%;
      • Lower expected gold grades at Andacollo due to production sequencing and at Pueblo Viejo due to an increase in the processing of stockpiled ore, and lower production at Peñasquito due to pit sequencing and the processing of harder ore;
      • No material delivery of deferred silver ounces from the Pueblo Viejo mine in 2022 until completion of the plant expansion project currently underway, which the operator has targeted for completion by the end of 2022;
      • Production from the Cortez mine subject to Royal Gold’s royalty interests of approximately 280,000 ounces of gold for 2022, a decrease of approximately 88,000 ounces from 2021; and,
    • Revenue for Red Chris from 2021 production is included, but no revenue from 2022 production is included. The Red Chris royalty (acquired in August 2021) is paid annually, within 90 days of the prior year end, based on the prior year’s production. Royalty revenue for the full year of 2021 was received in March 2022 and is included in this guidance. Royal Gold expects royalty revenue for 2022 to be recognized within the first 90 days of 2023.
    Zitat von Buche

    Die wichtigste Information hast Du oben durch Cut&Paste unterschlagen :rolleyes:


    Die 2022er Guidance beträgt 315,000 – 340,000 GEOs,


    ein Rückgang um ca. 6-13% nach 360,900 produzierten GEOs in 2021.

    Das war nicht meine Absicht, sorry. [smilie_blume]
    https://s28.q4cdn.com/58396597…il-12-2022-FINAL.1-LH.pdf

    [Blockierte Grafik: https://mms.businesswire.com/m…ed%2C_black_lettering.jpg]



    Royal Gold Reports Strong Revenue, Cash Flow and Earnings for the First Quarter of 2022

    https://www.businesswire.com/news/home/20220504006145/en/





    May 04, 2022 05:15 PM Eastern Daylight Time
    DENVER--(BUSINESS WIRE)--ROYAL GOLD, INC. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold,” the “Company,” “we,” “us,” or “our”) reports net income of $65.7 million, or $1.00 per share, for the quarter ended March 31, 2022, (“first quarter”), on revenue of $162.4 million and operating cash flow of $101.1 million. Adjusted net income1 was $65.2 million, or $0.99 per share.
    First Quarter 2022 Highlights:

    • Strong financial performance with revenue of $162.4 million, operating cash flow of $101.1 million, and earnings of $65.7 million, higher by 14%, 10% and 22%, respectively, compared to the prior year period
    • Revenue split: 71% gold, 10% silver, 14% copper
    • Production volume of 86,500 GEOs1, a 9% increase compared to the prior year period
    • Strong balance sheet, ending the period debt free, with cash of $183.7 million and total liquidity of over $1.2 billion
    • Maintained adjusted EBITDA margin1 of 81%, consistent with 80% in the prior year period
    • Paid quarterly dividend of $0.35 per share, a 17% increase over the prior year
    • Included as a member of the S&P High Yield Dividend Aristocrats Index
    • Khoemacau stream rate increased to 100% of payable silver



    Danke, @Sorgenfrei. Ich ergänze noch den Vergleich zum Vorquartal und zu den Analystenschätzugen:


    Umsatz: $162,4 Mio (Q4/21: $168,5 Mio)
    EPS : $1,00 (Q4/21: $1,04)
    Adj. Gewinn: $0,99/Aktie bzw. $65,2 Mio (Q4/21: $1.05/Aktie bzw. $69,2 Mio)
    Nettogewinn: $65,7 Mio (Q4/21: $68,2 Mio)
    Op. cash flow: $101,1 Mio (Q4/21: $118,9 Mio)
    Op. income: $80,6 Mio (Q4/21: $84 Mio)
    Produktion: 86.500 GEOs (Q4/21: 93.900 GEOs)
    Net Cash/Debt: ( 183,7 Mio / 0 Mio) (Q4/21: 143 Mio / 0 Mio)


    Die Schätzungen auf SA wurden bei Umsatz und Gewinn leicht übertroffen.


    Im Vergleich zum Vorquartal ergab sich bei allen Kennzahlen ein leichter Rückgang. Die Cashposition vergrößerte sich und die Verschuldung blieb auf Null. Damit ergibt sich zumindest großer Spielraum für Zukäufe, um das momentan fehlende Wachstum wieder aufzunehmen.

    Royal Gold: Further Weakness Should Present A Buying Opportunity

    https://seekingalpha.com/artic…sent-a-buying-opportunity
    Summary

    • Royal Gold released its Q1 results last month, reporting a double-digit increase in revenue and earnings on the back of higher sales volumes and higher metals prices.
    • While its company's realized silver and copper prices will dip sequentially due to recent weakness, Royal Gold's medium-term and long-term outlook has improved considerably.
    • This is because its organic growth pipeline allows it to grow earnings even with flat metal prices, and developers may look to streams/royalties vs. diluting with equity at current levels.
    • Given this favorable outlook, the company's discipline to focus on the best projects, and its margin outperformance (inflation-resistance), I would view sharp pullbacks as buying opportunities.

    [Blockierte Grafik: https://static.seekingalpha.com/uploads/2022/6/12/45984866-16550431850694413_origin.png]


    Royal Gold Announces Agreement to Acquire Great Bear Royalties Corp. to Gain Royalty Exposure to the Emerging World-Class Great Bear Project
    July 11, 2022 07:00 AM Eastern Daylight Time
    DENVER--(BUSINESS WIRE)--Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) announced today that its wholly owned subsidiary, International Royalty Corporation (“IRC”), has entered into a definitive agreement (the “Arrangement Agreement”) with Great Bear Royalties Corp. (“GBR”) to acquire (the “Acquisition”) all of the issued and outstanding common shares of GBR for cash consideration of C$6.65 per common share (the “Acquisition Price”) pursuant to a plan of arrangement under the provisions of the Business Corporations Act (British Columbia) and subject to the conditions set out in the Arrangement Agreement. The Acquisition Price represents a 43% premium over GBR’s 20-day volume weighted average trading price on the TSXV up to and including July 8, and values GBR at approximately C$199.5 million on a fully diluted basis.
    The Acquisition has been unanimously approved by the boards of directors of both Royal Gold, Inc. and GBR, and the Board of Directors of GBR has resolved to recommend that the shareholders of GBR approve the Acquisition. All of the directors and officers of GBR have entered into support agreements (the “Support Agreements”) to vote their shares in support of the Acquisition representing, in aggregate, approximately 10.5% of GBR shareholders.
    GBR’s sole material asset is a 2.0% net smelter return royalty (the “Royalty”) that covers the entirety of the Great Bear Project in the Red Lake district of Ontario, Canada, indirectly owned and operated by Kinross Gold Corporation (“Kinross”). As part of IRC’s due diligence, IRC entered into a co-operation agreement with Kinross (the “Co-operation Agreement”) that provided IRC access to Kinross personnel and certain non-public information pertaining to the Great Bear Project. In exchange, IRC agreed to amend certain terms of the royalty agreement upon closing of the Acquisition, including providing an option to Kinross to purchase a 25% interest in the Royalty for an amount equal to 25% of IRC’s purchase price of GBR, adjusted for inflation, at any time from the transaction closing date until the earlier of a construction decision for the Great Bear Project and 10 years after the transaction closing date.


    https://www.businesswire.com/news/home/20220711005261/en/

    RGLD langt in letzter Zeit gut zu. Nun kaufen sie für $500Mio eine Royalty auf den Cortez-trend, wo das Joint-Venture von NEM und ABX liegt.


    Sie haben eine effektive 1.2%ige Royalty auf ein Projekt mit 14.0Mio Oz Reserven und 24.8Mio Oz Resourcen.
    Nehmen wir einen Goldpreis von $1.800 an:


    14 Mio Oz x 1.2% x 1.800 = $302.4Mio
    24.8 Mio Oz x 1.2% x 1.800 = $535,7Mio


    vor Royalty-Gebühren und Zinsen. Kein günstiger Deal meines Erachtens.

    RGLD lieferte Quartalszahlen, nachfolgend vergleichen mit dem Vorquartal;


    Umsatz: $146,4 Mio (Q1/22: $162,4 Mio)
    EPS : $1,08 (Q1/22: $1,00)
    Adj. Gewinn: $0,81/Aktie bzw. $54 Mio (Q1/22: $0,99/Aktie bzw. $65,2 Mio)
    Nettogewinn: $ 71.1 Mio (Q1/22: $65,7 Mio)
    Op. cash flow: $120,2 Mio (Q1/22: $101,1 Mio)
    Op. income: $68 Mio (Q1/22: $80,6 Mio)
    Produktion: 78.300 GEOs (Q1/22: 86.500 GEOs)
    Net Cash/Debt: (280 Mio / 0 Mio) (Q1/22: 183,7 Mio / 0 Mio)


    RGLD lieferte ein solides Quartal ab. Die Produktion ging um ca. 10% zurück, während noch Preise von $1.871 für Au und $22,60 für Ag erzielt wurden. Beim Umsatz und operativen Gewinn ist dies bereits reflektiert; die anderen Zahlen sind noch von Sondereinflüssen erhöht.


    Zugekauft wurde die 2.0% NSR von GBRR sowie eine effektive 1.2% Royalty auf verschiedene Cortez-Liegenschaften. Da bei letzteren noch nicht klar ist, wann die ersten Zahlungen in diesem Jahr erfolgen, wurde die Guidance noch nicht erhöht.


    Die Zukäufe sind strategisch gut, da sie die sich erschöpfenden Unzen aus älteren Verträgen ersetzen. RGLD hat hier stärkeren Handlungsbedarf als WPM und FNV, da sie über kürzere Reserven verfügen. Allerdings mißfällt mir, daß sie in Cortez neue Unzen praktisch zum Marktpreis gekauft haben (s. Vorbeitrag). Es ist ihnen zu Gute zu halten, daß sie sich in Cortez gut auskennen und voraussichtlich zukünftige Explorationserfolge gut abschätzen können. Ohne die Spekulation auf Exploration hätte man allerdings für die $500Mio auch einfach physisches Gold kaufen können und damit die gleichen Chancen auf Wertzuwachs bekommen.


    Zudem wurde die Royalty nicht neu geschaffen, sondern von Rio Tinto gekauft. Es zeichnet sich ein Trend ab, daß die Produzenten momentan genug Mittel zur Verfügung und damit keinen Bedarf an Royalty-Finanzierungen haben. Die Profitabilität des Royalty-Modells dürfte dadurch bis zu einer Umkehr dieses Trends sinken. Meines Erachtens zeichnet sich dies auch schon an der schlechteren Performanz der letzten Wochen ab, weswegen ich diesen Sektor bis auf weiteres untergewichten werde.

    Royal Gold Reports Solid Operating and Financial Results for the Third Quarter of 2022


    https://www.businesswire.com/news/home/20221102005987/en/

    Third Quarter 2022 Highlights:

    • Revenue of $131.4 million, operating cash flow of $95.0 million, and earnings of $45.8 million
    • Revenue split: 76% gold, 11% silver, 8% copper
    • Production volume of 76,000 GEOs2
    • Maintained 77% adjusted EBITDA margin1
    • Repaid $50 million of debt, ending the period with liquidity of approximately $667 million
    • Paid quarterly dividend of $0.35 per share, a 17% increase over the prior year
    • Acquired royalty on the world-class Cortez Complex in Nevada
    • Acquired royalty on the emerging Great Bear Project in Ontario
    • Achieved full repayment of Mount Milligan advance stream deposit

    Post Quarter Events:

    • Updated Mount Milligan life of mine plan extends life to 2033


    Royal Gold Announces the 22nd Consecutive Annual Increase in the Common Stock Dividend to $1.50 Per Share for 2023, a 7% Increase over the 2022 Dividend

    https://www.businesswire.com/news/home/20221114005913/en/
    DENVER--(BUSINESS WIRE)--Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) announced today that its Board of Directors increased the Company’s annual calendar year common stock dividend by approximately 7% from $1.40 to $1.50 per share, payable on a quarterly basis of $0.375 per share. The first quarterly dividend at the increased rate is payable on January 20, 2023, to shareholders of record at the close of business on January 6, 2023.
    “Paying a growing and sustainable dividend has been a core strategic objective for Royal Gold since our inaugural dividend in 2000,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “Our long and consistent history of dividend increases is unique in the precious metals sector and Royal Gold is the only precious metals company in the S&P High Yield Dividend Aristocrats Index. We have a broad and diversified portfolio of high-quality, long-life and cash-flowing assets operated by some of the world’s leading mining companies, and today’s dividend announcement illustrates our confidence in the long-term outlook for our business.”


    Royal Gold Announces Acquisition of Additional Royalty Interests on the World-Class Cortez Gold Complex in Nevada and Outlines Simplified Approach to Describing Royal Gold’s Multiple Royalty Interests at Cortez


    https://www.businesswire.com/news/home/20230105005259/en/


    DENVER--(BUSINESS WIRE)--Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) announced today that its wholly owned subsidiary, RG Royalties, LLC, has acquired two portions of a gross smelter return royalty (the “Idaho Royalty”) that together cover a large area including the Cortez mine operational area and the entirety of the Fourmile development project in Nevada (the “Cortez Complex”) from certain holders who are successors in interest to Idaho Mining Corporation for cash consideration of $204.1 million. The area within the Cortez Complex is owned or controlled by Nevada Gold Mines LLC (“NGM”), a joint venture between Barrick Gold Corporation (“Barrick”) (61.5% owner and operator) and Newmont Corporation (“Newmont”) (38.5% owner), with the exception of the Fourmile development project which is 100% owned and operated by Barrick.


    “With this transaction we have further consolidated our royalty position at the world-class Cortez Complex,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “Cortez is a cornerstone asset for Royal Gold and this acquisition increases and expands our interest at one of the world’s most prolific gold mines, which is operated by two of the leading companies in the gold business. We have consistently worked to enhance and extend the average life of the Royal Gold portfolio and this transaction again demonstrates our successful execution of this long-term strategy.”

    Royal Gold Provides Update on its Q4 2022 Stream Segment Sales


    DENVER--(BUSINESS WIRE)-- Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) announced today that its wholly owned subsidiary, RGLD Gold AG, sold approximately 63,100 gold equivalent ounces (GEOs)1 comprised of approximately 46,000 gold ounces, 706,600 silver ounces and 2,000 tonnes of copper related to its streaming agreements during the three-month period ended December 31, 2022 (the “fourth quarter”). The Company had approximately 21,000 ounces of gold, 461,200 ounces of silver and 400 tonnes of copper in inventory at December 31, 2022.
    RGLD Gold AG’s average realized gold, silver and copper prices for the fourth quarter were $1,710 per ounce, $20.09 per ounce and $8,004 per tonne ($3.63 per pound), respectively. Cost of sales was approximately $396 per GEO for the fourth quarter. Cost of sales is specific to the Company’s streaming agreements and is the result of the Company’s purchase of gold, silver or copper for cash payments at a set contractual price, or a percentage of the prevailing market price of gold, silver or copper when purchased.

    Royal Gold: Doubling Down On The Cortez Complex
    https://seekingalpha.com/artic…-complex#comment-94207359
    Summary

    • Royal Gold had a tough year in 2022, with lower-than-planned contributions from Khoemacau, deferred silver ounces from PV, and weaker metals prices impacting revenue and cash flow.
    • The result is that Royal Gold is on track to see cash flow dip ~12% year-over-year despite its inflation-resistant business model, with FY2022 cash flow per share estimated at ~$6.00.
    • However, with multiple royalty/streaming acquisitions over the past two years and considerable progress in its development pipeline, Royal Gold's portfolio looks better than ever, and its future is quite bright.
    • So, while we will see weaker results in FY2022, I see a strong year ahead for RGLD, and I see the stock as one of the best ways to get exposure to gold, provided the stock is bought during violent corrections.

    [Blockierte Grafik: https://static.seekingalpha.com/uploads/2023/1/9/45984866-16732938146057432_origin.png]


    [Blockierte Grafik: https://static.seekingalpha.com/uploads/2023/1/9/45984866-167329592163065_origin.png]

    [Blockierte Grafik: https://mms.businesswire.com/m…ed%2C_black_lettering.jpg]



    Royal Gold Reports a Strong Finish to Calendar 2022 with Solid Operating and Financial Results for the Fourth Quarter of 2022

    https://www.businesswire.com/news/home/20230215005838/en/
    DENVER--(BUSINESS WIRE)--Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold,” the “Company,” “we,” “us,” or “our”) reports net income of $239.0 million, or $3.63 per share, for the year ended December 31, 2022, on revenue of $603.2 million and operating cash flow of $417.3 million. Adjusted net income1 was $226.1 million, or $3.43 per share.
    “Royal Gold Announces Acquisition of Additional Royalty Interests on the World-Class Cortez Gold Complex in Nevada and Outlines Simplified Approach to Describing Royal Gold’s Multiple Royalty Interests at Cortez”
    [/quote]For the quarter ended December 31, 2022 (“fourth quarter”), net income of $56.4 million, or $0.86 per share, was reported on revenue of $163.0 million and operating cash flow of $101.0 million. Adjusted net income1 was $59.7 million, or $0.91 per share.
    Production volume of 335,100 GEOs2 for 2022 was within the guidance range of 315,000 to 340,000 GEOs. On a comparable basis, at previously-provided guidance prices3 and after excluding the contribution of royalty ounces for transactions completed during 20224, production volume for 2022 was within the top half of the guidance range at approximately 333,700 GEOs.
    2022 Highlights:

    • Revenue of $603.2 million, operating cash flow of $417.3 million, and earnings of $239.0 million
    • Revenue split: 73% gold, 11% silver, 12% copper
    • Production volume of 335,100 GEOs, within the guidance range of 315,000-340,000 GEOs4
    • Acquired two royalties on the world-class Cortez Complex in Nevada
    • Acquired royalty on the emerging Great Bear project in Ontario
    • Khoemacau stream rate increased to 100% of payable silver
    • Achieved full repayment of advance stream deposit at Mount Milligan in British Columbia
    • Added to S&P High Yield Dividend Aristocrats Index
    • Issued inaugural ESG Report

    Fourth Quarter 2022 Highlights:

    • Increased dividend for the 22nd consecutive year to $1.50 per share, a 7% increase over the prior year
    • Updated Mount Milligan life of mine plan extends life to 2033
    • Acquired Idaho Royalty on the Cortez Complex
    • Khoemacau achieved target production rate


    Royal Gold Announces Second Quarter Dividend

    https://www.businesswire.com/news/home/20230227005876/en/
    DENVER--(BUSINESS WIRE)--Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) announced today that its Board of Directors has declared its second quarter dividend of $0.375 per share of common stock. The dividend is payable on Friday, April 21, 2023, to shareholders of record at the close of business on Thursday, April 6, 2023.

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