- The Royal Canadian Mint (MNT) is reporting its second quarter financial results
- Consolidated revenue during the quarter decreased to $841.9 million in 2022, down from $953.5 million in the same quarter last year
- The Crown Corporation also saw a year-over-year decrease in revenue from its precious metals businesses during the quarter
- The mint says the financial results were expected given the “exceptional” performance it saw in 2021
- The Royal Canadian Mint is down 0.22 percent, trading at $22.73 at 10:37 am ET
The Royal Canadian Mint (MNT) is reporting its second quarter financial results.
Overall, consolidated revenue during the quarter decreased to $841.9 million in 2022, down from $953.5 million in the same quarter last year.
The Crown Corporation saw a year-over-year decrease in revenue from its precious metals businesses during the quarter. The mint recorded $793.6 million in revenue from that aspect of its business, compared to $905.4 million in 2021.
Its gold bullion volumes also decreased over the same period by 20 percent to a total of 357 thousand ounces, down from 448.7 thousand ounces in the same quarter last year.
The mint says the financial results were expected given the “exceptional” performance it saw in 2021.
“The Mint continues to demonstrate resilience and stability by generating strong results in the midst of challenging market conditions,” said Royal Canadian Mint President and CEO Marie Lemay.
“The outstanding response to our new Opulence Collection has introduced the Mint to a new category of customers. We will continue to meet customer needs across all our businesses as we strive to reach new audiences and seize new opportunities.”
The Royal Canadian Mint is down 0.22 percent, trading at $22.73 at 10:37 am ET.