Royal Gold, Inc. reported significant financial growth for the three months and nine months ended September 30, 2024, compared to the same periods in 2023. The company achieved total revenue of $193.8 million for the third quarter, a substantial increase from $138.6 million in the prior year. For the nine-month period, revenue rose to $516.8 million from $453.1 million. This growth was primarily driven by higher average prices for gold, silver, and copper, alongside increased sales from key properties such as Mount Milligan and Pueblo Viejo.

Operating income for the third quarter was $118.8 million, up from $65.6 million in 2023, while net income surged to $96.3 million, compared to $49.5 million in the same quarter of the previous year. Basic and diluted earnings per share for the third quarter were both $1.46, significantly higher than $0.75 in the prior year. For the nine months ended September 30, 2024, net income reached $224.6 million, compared to $176.7 million in 2023, with basic and diluted earnings per share increasing to $3.41 from $2.69.

Royal Gold's total assets as of September 30, 2024, were reported at $3.3 billion, a slight decrease from $3.36 billion at the end of 2023. However, total stockholders’ equity increased to $3.04 billion from $2.89 billion, reflecting strong profitability. The company also reported a net cash increase of $23.7 million for the nine months ended September 30, 2024, compared to a decrease of $15.7 million in the same period of 2023.

Strategically, Royal Gold made a notable acquisition on June 26, 2024, purchasing a 0.7% net smelter return royalty and a 26.25% interest in a gross smelter return royalty for $51 million. This acquisition was funded with available cash and is expected to enhance the company's portfolio of precious metals interests.

The company maintained a strong liquidity position, with total liquidity of approximately $1.1 billion, including $1 billion available under its revolving credit facility, which was fully accessible after repaying $50 million during the quarter. Royal Gold's total debt stood at $3.4 million, and it complied with all financial covenants under its credit facility.

Overall, Royal Gold's performance in the latest fiscal period reflects robust revenue growth, improved profitability, and strategic acquisitions, positioning the company favorably in the precious metals market.