RTTNews | Aug 11, 2021 06:17PM EDT

18:17 Wednesday, August 11, 2021 (RTTNews.com) - Colorado-based mining company, Royal Gold, Inc (RGLD) reported an improved profit for the fourth quarter on Wednesday, driven by increased price of minerals. Both earnings and revenue for the quarter beat the analyst estimates.

The company reported a net income of $81.67 million or $1.24 earnings per share, compared to $49.01 million or $0.75 earnings per share in the same quarter last year.

Excluding one-time items, the income was $68.73 million or $1.04 earning per share, up from $34.23 million or $0.53 per share in 2020. Eight analysts polled by Thomson Reuters expected the earnings to be $0.88 per share.

The revenue for the company also jumped to $168.02 million from $119.96 million last year. The primary driving force of the revenue was the higher price of materials. Three analysts projected revenue of $157.87 million for the quarter.

The CEO of the company Bill Heissenbuttel said, "Not only did we produce record financial results, but we also achieved several significant strategic goals in fiscal 2021."

The company is currently trading at $117 in the after-hours market, up $2.06 or 1.79% since bell. During the regular session, the shares closed at $114.94, up $2.13 or 1.89%.

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