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Royal Gold Quarterly Profit Up From Year Ago

Kitco News

Royal Gold, Inc. (Nasdaq: RGLD) reports net income of $26.7 million, or 41 cents per share, for its fiscal fourth quarter that ended June 30. Excluding special items, adjusted net income was $27.6 million, or 43 cents per share, up 39% from the prior-year quarter. The company reports a 3% year-on-year increase in gold-equivalent ounces to 89,000. For the fiscal year that ended June 30, Royal Gold lists a net loss of $113.1 million, or $1.73 per share. However, this includes the negative impact of U.S. tax reform legislation totaling 47 cents per share and several non-cash items -- including an impairment of $239.1 million relating to the Pascua-Lama project -- totaling $3.03 per share, the company says. Excluding these items, adjusted net income was $115.1 million, or $1.76 per share, up 14% from the prior year. Royal Gold reports record yearly revenue of $459 million and record operating cash flow of $328.8 million. Record volume of 354,000 gold-equivalent ounces was up 1%.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Fortuna Reports Rise In Second-Quarter Profit

Thursday August 9, 2018 09:44

Fortuna Silver Mines Inc. (NYSE: FSM; TSX: FVI) reports a second-quarter profit helped by higher sales and lower mine operating costs. Net income was $11.2 million, or 7 cents per share, compared to $8.9 million, or 6 cents, for the comparable quarter in 2017. Adjusted net income increased to $10 million from $9.2 million. The company had pre-reported silver and gold production of 2.3 million and 14,557 ounces, respectively. The silver output was a year-on-year gain of 10%, while the gold production was in line with the year-ago period. All-in sustaining costs fell to $10 per silver-equivalent ounce from $12.10 a year ago.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Franco Nevada Second-Quarter Profit Rises

Thursday August 9, 2018 08:18

Royalty and streaming company Franco Nevada (TSX, NYSE: FNV) reports a second-quarter net profit of $53.6 million, or 29 cents per share, up from $45.6 million in the same quarter a year ago. The adjusted profit was nearly the same -- $53.6 million, or 29 cents a share, up from $46.1 million, or 25 cents. The company reports 107,333 gold-equivalent ounces were sold.  The company revised upward its 2018 guidance for revenue from energy assets to a range of $65 million to $75 million, compared to $50 million to $60 million previously. However, Franco Nevada revised down its guidance for gold-equivalent ounces to a range of 440,000 to 470,000, compared to 460,000 to 490,000 previously. The board of directors declared a quarterly dividend of 24 cents per share to be paid on Sept. 27 to shareholders of record on Sept. 13.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Torex Lists 2Q Adjusted Profit After Blockade Ends

Thursday August 9, 2018 08:18

Torex Gold Resources Inc.(TSX:TXG) lists an adjusted profit for the second quarter after a blockade ended and full access to the ELG Mine Complex was restored. The company lists adjusted net earnings of $10.6 million, or 13 cents per share. The net loss, after current and deferred income-tax expense, totaled $12.3 million or 14 cents. The company produced 78,796 ounces in gold dore and an additional 1,300 ounces in carbon fines. “Having successfully emerged from the blockade, we are pleased to announce solid second-quarter results, from near-record level gold production,” says Fred Stanford, president and chief executive officer.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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