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Royal Gold, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing total revenue of $193.8 million, an increase from $138.6 million in the same quarter the previous year. This increase was driven by higher average metal prices and increased production from key properties.
Cost of sales for the quarter was $27.2 million, compared to $21.4 million in the same quarter of the previous year. The increase is attributed to higher metal prices and increased sales volumes.
The company reported a net income of $96.2 million for the quarter, compared to $49.3 million in the previous year, with the increase attributed to higher revenue and lower interest expenses.
Cash provided by operating activities was $388.5 million for the nine months ended September 30, 2024, compared to $314.7 million in the previous year.
Royal Gold had a working capital of $115.8 million as of September 30, 2024. The company maintains a revolving credit facility with $1 billion available as of the end of the quarter.
The filing also details the acquisition of new royalty interests at the Back River Gold Project, with a total consideration of $51 million.
Royal Gold continues to focus on acquiring and managing precious metal streams and royalties, with a portfolio that includes interests in seven producing properties and several development and exploration stage properties.
The company does not anticipate any significant changes to its financial condition or liquidity in the near future.
Royal Gold's management has concluded that its disclosure controls and procedures were effective as of September 30, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Royal Gold Inc. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.