Why Royal Gold Shares Advanced 10% in July
Shares of Royal Gold, Inc. (NASDAQ: RGLD) rose 10% in July. The gain was spread across most of the month, but it began to notably outperform its precious-metals streaming peers Wheaton Precious Metals and Franco Nevada after it released an update on its fiscal fourth-quarter production and costs.
Image source: Getty Images.
Royal Gold's update was quite positive in many respects. For example, gold production was down about 1% year over year, but silver production increased almost 80%. And the company began receiving copper between the two periods following the rework of the Mount Milligan streaming deal, adding 1,165 tonnes of copper to the mix. So year-over-year production was, essentially, way up for the precious-metals streaming company.
Source: Fool.com
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