Royal Gold's Q2 Stream Segment Sales Volume Slips 5% Sequentially

Royal Gold, Inc. RGLD issued a stream segment sales update for second-quarter 2025. In the quarter, RGLD Gold AG — the fully-owned subsidiary of Royal Gold — sold 40,600 gold equivalent ounces (GEOs), comprising 32,200 ounces of gold, 578,700 ounces of silver and 1,100 tons of copper related to its streaming agreements.

This marks a dip from 42,800 GEOs sold in the first quarter of 2025 and 52,600 GEOs sold in the second quarter of 2024.

RGLD Sees Q/Q Rise in Gold & Silver Prices, Copper Dips

The average realized price of gold was $3,248 per ounce in the second quarter compared with $2,842 per ounce in first-quarter 2025. The average realized price of silver stood at $32.91 per ounce, up from the first quarter’s $31.30. Average realized copper prices were $9,210 per ton, down 1% sequentially. The company ended the quarter with 12,700 ounces of gold and 341,000 ounces of silver in inventory.

In the second quarter of 2024, the average realized price of gold was $2,339 per ounce. The average realized price of silver stood at $28.46 per ounce, and the average realized copper price was $9,475 per ton.

In the second quarter of 2025, the cost of sales came in at $596 per GEO compared with the prior quarter’s $573.

Royal Gold’s Q2 EPS to Rise Y/Y

Royal Gold’s second-quarter revenues will likely reflect the impacts of year-over-year increases in gold, silver and copper prices, somewhat offset by the lower sales.

Backed by this, the Zacks Consensus Estimate for the company’s second-quarter earnings is pegged at $1.70. Notably, RGLD reported earnings of $1.25 in the second quarter of 2024.

Royal Gold has a four-quarter trailing earnings surprise of 9.1%, on average.

In the first quarter of 2025, RGLD reported adjusted earnings per share of $1.51, beating the Zacks Consensus Estimate of $1.37. The bottom line improved 66% year over year.

The company generated revenues of $193 million, reflecting a year-over-year increase of 29.6%. The upside was driven by higher average metal prices, increased gold revenues from Pueblo Viejo, and higher gold and zinc production from Peñasquito. The gains were partially offset by lower production from Cortez and lower gold revenues from Xavantina.

RGLD Stock’s Price Performance

In the past year, the company’s shares have gained 23.4% compared with the industry’s growth of 49.4%.

Royal Gold’s Zacks Rank & Other Stocks to Consider

The company currently flaunts a Zacks Rank #1 (Strong Buy).

Some other top-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS, SSR Mining Inc. SSRM and ATI Inc. ATI. All these stocks carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Carpenter Technology has an average trailing four-quarter earnings surprise of 11.1%. The Zacks Consensus Estimate for CRS’ 2025 earnings is pegged at $7.27 per share, which indicates year-over-year growth of 53.4%. Carpenter Technology shares skyrocketed 111% last year.

SSR Mining has an average trailing four-quarter earnings surprise of 58.8%. The Zacks Consensus Estimate for SSRM’s 2025 earnings is pegged at $1.25 per share, implying a year-over-year upsurge of 346%. SSR Mining’s stock soared 88.6% last year.

ATI has an average trailing four-quarter earnings surprise of 12.54%. The Zacks Consensus Estimate for ATI’s 2025 earnings is pegged at $3.01 per share, indicating year-over-year growth of 22.4%. ATI shares jumped 54% last year.

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

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