RGLD Earnings Miss Estimates in Q3, Shares Rise 4% on Record Revenues

Shares of Royal Gold, Inc. RGLD have gained 4% since reporting third-quarter 2025 results on Nov. 5 on record revenues and improved earnings.

RGLD reported adjusted earnings per share (EPS) of $2.06 in third-quarter 2025. The company had reported an EPS of $1.47 in the year-ago quarter. However, it missed the Zacks Consensus Estimate of $2.30.

Royal Gold, Inc. Price, Consensus and EPS Surprise

 

Royal Gold, Inc. price-consensus-eps-surprise-chart | Royal Gold, Inc. Quote

Including one-time items, the company reported an EPS of $1.92 compared with the prior-year quarter’s $1.46.

RGLD generated record revenues of $252 million, up 30% year over year. The upside was driven by higher average metal prices; gold sales from Andacollo and Rainy River; and higher production from Peñasquito. However, these factors were offset by lower gold sales from Xavantina.

Stream revenues were $166 million and royalty revenues were $86 million in the September-end quarter. Stream revenues increased 24.8% year over year and royalty revenues rose 41.5%.

The company’s cost of sales was $31 million in the third quarter compared with the prior-year quarter’s $27 million.

General and administrative expenses amounted to $10 million, flat year over year. The adjusted EBITDA was $206 million in the reported quarter, up 30.5% year over year. The adjusted EBITDA margin was 82% compared with the prior-year quarter’s 81%.

RGLD’s Q3 Cash Position

Net cash from operating activities was $174 million in the third quarter compared with the prior-year quarter’s $137 million. Royal Gold ended the quarter with cash and cash equivalents of around $173 million compared with $195 million at the end of 2024.

Royal Gold’s Other Updates

On Oct. 20, 2025, RGLD completed the previously announced acquisition of Sandstorm Gold Ltd. and Horizon Copper Corp. Sandstorm and Horizon’s results were not included in the company’s third-quarter 2025 financials.

Sandstorm reported revenues of $57.5 million in the third quarter, while Horizon’s revenues for the quarter were $6 million.

RGLD Stock’s Price Performance

In the past year, shares of Royal Gold have gained 23.8% compared with the industry’s growth of 97.4%.

Royal Gold’s Zacks Rank

The company currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Peer Performances

Newmont Corporation NEM reported third-quarter 2025 adjusted earnings of $1.71 per share, up from 81 cents in the prior-year quarter. It topped the Zacks Consensus Estimate of $1.29.

NEM’s revenues for the third quarter were $5.52 billion, up roughly 20% from $4.61 billion in the prior-year quarter. The figure topped the Zacks Consensus Estimate of $4.97 billion. The increase in the top line was primarily due to higher year-over-year realized gold prices.

Agnico Eagle Mines Limited AEM posted adjusted earnings of $2.16 per share for the third quarter of 2025, up from $1.14 in the year-ago quarter. The bottom line topped the Zacks Consensus Estimate of $1.76.

Agnico Eagle Mines generated revenues of $3.06 billion, up 41.9% year over year. The top line surpassed the Zacks Consensus Estimate of $2.73 billion.

Kinross Gold Corporation KGC registered adjusted earnings of 44 cents per share compared with the prior-year quarter’s 24 cents. The bottom line beat the Zacks Consensus Estimate of 39 cents.

Kinross Gold’s revenues rose 25.8% year over year to $1.80 billion in the third quarter. It topped the Zacks Consensus Estimate of $1.53 billion.

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This article originally published on Zacks Investment Research (zacks.com).

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