Press release
Royal Gold Reports Third Quarter 2020 Results
Third Quarter Key Metrics Compared to Prior Year Quarter: Revenue of $136.4 million, an increase of 24.3% Operating cash flow of $99.7 million, an increase
About this update from Royal Gold, Inc.
[{"type":"text","content":"\nThird Quarter Key Metrics Compared to Prior Year Quarter:\n\n\n\nRevenue of $136.4 million, an increase of 24.3%\n\n\nOperating cash flow of $99.7 million, an increase of 28.7%\n\n\nVolume of 86,200 GEOs1, an increase of 2.4%\n\n\nDividends paid of $18.4 million, an increase of 5.7%\n\n\nAverage price of $1,583 per gold ounce, an increase of 21.4% \n\n\n DENVER--(BUSINESS WIRE)--\nRoyal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) reports net income of $38.6 million, or $0.59 per share, on revenue of $136.4 million in its fiscal third quarter ended March 31, 2020 (“third quarter”). Adjusted net income2 was $44.3 million, or $0.68 per share, after excluding a loss on changes in the fair value of equity securities of $0.05 per share and a one-time non-cash employee stock compensation expense item of $0.04 per share.\n\n\n“Our business model, underpinned by a large, diverse and gold-based operating portfolio, has performed well and allowed us to deliver another solid quarter of operating and financial results as unprecedented challenges caused by COVID-19 began to develop,” commented Bill Heissenbuttel, President and CEO.\n\n\n“The health and safety of our employees is our top priority, and we are successfully managing our business remotely. Although our high margin provided operating cash flow of approximately $100 million during the quarter, we drew $200 million on our revolving credit facility after the end of the quarter as a precautionary liquidity measure in the event that production suspensions at assets within our portfolio arise, continue or are reinstated. While the impact of COVID-19 has had a limited impact on our producing properties to date, it is difficult to confirm the potential revenue impact of future or ongoing suspensions and we will look to manage our credit facility balance accordingly as the environment evolves.”\n\n\nThe uncertain economic outlook facing the mining industry more generally may present new business development opportunities, and our strong balance sheet and continued access to liquidity position us well to take advantage of new opportunities that may become available. While we are focused on these opportunities, we recognize the significant impact the COVID-19 pandemic is having on the communities where we live and work, and Royal ...