tag:blogger.com,1999:blog-1527840491496268397.post4753786821614905855..comments2024-03-08T11:20:30.095-07:00Comments on Credit Bubble Stocks: Earnings Roundup Q2 2022 ($TPL $RGLD $DMLP $MRO)Unknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1527840491496268397.post-66088504442209662132023-08-08T14:09:01.813-07:002023-08-08T14:09:01.813-07:00From the RGLD Q2 2023 call:
We continued our prac...From the RGLD Q2 2023 call:<br /><br /><i>We continued our practice of returning capital to shareholders and made a dividend payment of $1.50 per share for the quarter. We also maintained our focus on the balance sheet and repaid $100 million of the outstanding balance on the revolver, leaving us with liquidity at the end of the quarter of just over $700 million. With respect to the revolver, we completed an amendment to extend the maturity for another two years to June 2028. <b>The source of capital has been a key strategic financing tool that has allowed us to finance our growth over the past several years without issuing equity.</b></i>CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-85354251044765129822023-08-08T14:06:30.135-07:002023-08-08T14:06:30.135-07:00The current market capitalization of Royal Gold (@...The current market capitalization of Royal Gold (@ $112 per share) is $7.4 billion. They have $400 million of debt and $100 million of net current assets, so the enterprise value is $7.7 billion.<br /><br />For the second quarter of 2023, revenue was $144 million which was roughly flat with Q2 2022 but down from $170 million in Q1 of this year. Gold was $1,890 per ounce last quarter versus $1,976 this quarter, however production was lower at some of the mines.<br /><br />Revenue for the first half of the year was $314 million and reported operating income was $158 million but cash from operations was $217 million. They are converting about 70% of revenue to CFO. <br /><br />They have repaid $175 million of debt YTD and paid $49 million of dividends. <br /><br />RGLD is trading for an OCF/EV yield of 5.6% (based on 1H annualized).<br /><br />Q2 release:<br />https://www.sec.gov/Archives/edgar/data/85535/000155837023013085/rgld-20230802xex99d1.htm<br /><br />Q2 presentation:<br />https://www.sec.gov/Archives/edgar/data/85535/000155837023013085/rgld-20230802xex99d2.htm<br /><br />Q2 2023 10-Q:<br />https://www.sec.gov/Archives/edgar/data/85535/000155837023012996/rgld-20230630x10q.htm<br /><br />Q1 2023 10-Q:<br />https://www.sec.gov/Archives/edgar/data/85535/000155837023007915/rgld-20230331x10q.htmCPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.com