This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Royal Gold Reports Net Income Of $0.23 Per Share For Its First Quarter Fiscal 2014 And Concentrate Production Commences At Mt. Milligan

Stocks in this article: RGLD

Royal Gold, Inc. (NASDAQ:RGLD) (TSX:RGL) (“Royal Gold” or the “Company”) generated net income attributable to Royal Gold stockholders of $15.2 million, or $0.23 per basic share, on revenue of $56.5 million for the first quarter of fiscal 2014. This compares to net income attributable to Royal Gold stockholders of $24.8 million, or $0.42 per basic share, on revenue of $77.9 million for the first quarter of fiscal 2013. The average gold price was $1,326 per ounce in the first quarter, down 20% from the prior year quarter.

Q1 Fiscal Year (“FY”) 2014 Highlights:

  • Adjusted EBITDA 1 of $0.77 per basic share or 88% of revenue;
  • Cash dividends of $13.0 million, representing a payout ratio of 37% of operating cash flow;
  • Completion of the previously announced acquisition of a royalty on the El Morro copper-gold project in Chile for $35 million; and
  • Final payment of $12.9 million made to Thompson Creek Metals Company (“Thompson Creek”) as part of the Mt. Milligan gold stream acquisition. Copper and gold concentrate production commenced at Mt. Milligan in September.

Tony Jensen, President and CEO, commented, “Our first quarter results met production expectations on a portfolio basis, with Andacollo reporting a particularly strong quarter. We are pleased with the plant commissioning process at Mt. Milligan to date and look forward to that contribution to our portfolio as concentrate sales commence in the near future. We expect Mt. Milligan’s production to build more significantly in the new calendar year.”

First quarter revenue was primarily impacted by lower average metal prices. First quarter production attributable to Royal Gold was higher at Andacollo, Canadian Malartic, Holt, Dolores and Wolverine than the prior year quarter, offset by lower production at Voisey’s Bay, Peñasquito, Las Cruces, Robinson (copper), Leeville and Cortez.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs