as of 11-11-2026 12:22pm EST
Royal Gold Inc enquires and manages precious metal royalties and streams with a focus on gold. The company purchases a percentage of the metal produced from a mineral property for an initial payment without assuming responsibility for mining operations. Similarly, precious metal streams are purchase agreements with mine operators providing the right to purchase all or a portion of one or more metals produced from a mine in exchange for an upfront deposit payment. Generally, Royal Gold does not work on the properties in which it holds royalty and streaming assets. The company owns a portfolio of producing, development, evaluation, and exploration royalties and streams, and the majority of group revenue is generated from Canada, Mexico, Chile, and the United States.
| Founded: | 1981 | Country: | United States |
| Employees: | N/A | City: | DENVER |
| Market Cap: | 21.9B | IPO Year: | 1995 |
| Target Price: | $313.75 | AVG Volume (30 days): | 671.7K |
| Analyst Decision: | Buy | Number of Analysts: | 12 |
| Dividend Yield: | Dividend Payout Frequency: | quarterly | |
| EPS: | 8.75 | EPS Growth: | 32.74 |
| 52 Week Low/High: | $181.01 - $306.25 | Next Earning Date: | 11-04-2026 |
| Revenue: | $1,030,471,000 | Revenue Growth: | 43.24% |
| Revenue Growth (this year): | 82.28% | Revenue Growth (next year): | 14.70% |
| P/E Ratio: | 31.36 | Index: | N/A |
| Free Cash Flow: | N/A | FCF Growth: | N/A |
President & CEO
Avg Cost/Share
$233.33
Shares
2,425
Total Value
$567,614.16
Owned After
59,166
President & CEO
Avg Cost/Share
$262.34
Shares
7,275
Total Value
$1,916,112.30
Owned After
59,166
SVP & General Counsel
Avg Cost/Share
$262.80
Shares
500
Total Value
$131,400.00
Owned After
8,082
SEC Form 4
| Insider | Ticker | Relationship | Date | Transaction | Avg Cost | Shares | Total Value | Owned After | SEC Forms |
|---|---|---|---|---|---|---|---|---|---|
| Heissenbuttel William Holmes | RGLD | President & CEO | Oct 5, 2026 | Sell | $233.33 | 2,425 | $567,614.16 | 59,166 | |
| Heissenbuttel William Holmes | RGLD | President & CEO | Sep 3, 2026 | Sell | $262.34 | 7,275 | $1,916,112.30 | 59,166 | |
| Shefman Randy | RGLD | SVP & General Counsel | Aug 28, 2026 | Sell | $262.80 | 500 | $131,400.00 | 8,082 |
SEC 8-K filings with transcript text
Nov 4, 2026 · 100% conf.
1D
+0.79%
$238.76
Act: +1.32%
5D
+6.41%
$252.07
20D
+6.41%
$252.06
2 rgld-20261104xexx991.htm
Document
Exhibit 99.1
Royal Gold Reports Strong Third Quarter Results, Including Record Operating Cash Flow and Gold Equivalent Ounce Sales, Additional Share Repurchases and Full Repayment of Debt after Quarter End
DENVER, COLORADO. NOVEMBER 4, 2026: ROYAL GOLD, INC. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold,” the “Company,” “we,” “us,” or “our”) released financial results for the quarter ended September 30, 2026 ("third quarter").
"Strong third quarter results extended the positive momentum from the first half of the year,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “Our large and diversified portfolio has generated significant cash flow since we closed the Sandstorm and Horizon transaction in October 2025, allowing us to rapidly pay down debt and rebuild our liquidity. We had $1.225 billion of debt outstanding immediately after closing and initially expected to repay it within two years. Just under one year later, we fully repaid that balance while also funding our regular quarterly dividend, repurchasing shares, and meeting our investment commitments at the Warintza Project. Looking ahead, our portfolio continues to perform well. We remain on track to meet our full-year guidance for gold sales, expect to be at or exceed the top end of our guidance ranges for silver and copper, and we have raised our sales guidance for other metals."
Third Quarter Highlights
Financial/Operating
•Revenue of $464.8 million (compared to $252.1 million in the prior year period)
•Revenue split by commodity: 73% gold, 14% silver, 10% copper
•Record operating cash flow of $344.4 million (compared to $174.0 million in the prior year period)
•Net income of $227.4 million ($2.68 per share), and adjusted net income1 of $238.3 million ($2.80 per share) (compared to $126.8 million and $136.2 million, respectively, in the prior year period)
•Record sales volume of 109,000 GEOs2 (compared to 72,900 in the prior year period)
•Adjusted EBITDA margin1 of 84% (compared to 82% in the prior year period)
Corporate
•Repaid $250 million on the revolving credit facility
•Increased total available liquidity to approximately $1.48 billion
•Paid quarterly dividend of $0.475 per share, a 6% increase over the prior year period
•Repurchased 190,045 shares at an average price of $259.83 per share, for total consideration of $49 million
1 Adjusted net income, adjusted net income per share and adjusted EBITDA margin are non-GAAP financial measures. See Schedule A of this press release for additional information, including reconciliations to the most directly comparable GAAP measures.
2 See Schedule A of this press release for additional information about gold equivalent ounces, or GEOs.
1
Post-Quarter Events
•Received the second delivery of 11,111 ounces of gold on October 2, 2026, from the Deferred Gold Consideration related to the Mount Milligan Cost Support Agreement, which were sold for proceeds of $46 million
•Repaid the remaining $150 million on the revolving credit facility on October 19, 2026, leaving the full $1.4 billion credit facility undrawn and available
•Documents finalized for the final $50 million advance payment to Solaris Resources Inc. ("Solaris") under the gold stream and royalty agreements for the Warintza Project
Revenue Summary
Three Months Ended September 30,Nine Months Ended September 30,
Revenue (millions)20262025% Change20262025% Change
Gold$340.3 $196.6 73 %$1,018.1 $506.6 101 %
Silver64.1 30.3 112 %192.7 78.0 147 %
Copper45.0 16.4 175 %129.6 48.0 170 %
Other Metals15.3 8.8 74 %44.1 22.6 95 %
Total revenue$464.8 $252.1 84 %$1,384.4 $655.1 111 %
GEOs2 109,00072,90050 %305,300204,40049 %
Revenue split stream / royalty68% / 32%66% / 34%68% / 32%64% / 36%
Outlook for 2026
Royal Gold provided guidance for 2026 metal sales, depreciation, depletion and amortization ("DD&A") expense and effective tax rate in March 2026. Based on strong year-to-date sales, we are raising our full-year sales guidance for other metals and expect to be at or exceed the top end of our guidance ranges for silver and copper. We continue to expect gold sales, DD&A expense and the effective tax rate to be within the original ranges. The table below shows the original and revised guidance ranges, along with actual results through September 30, 2026.
2026 Guidance Ranges (Original)Actual Through September 30, 20262026 Guidance Ranges (Revised)*
Total Sales
Gold(oz)290,000–320,000224,265290,000–320,000
Silver(M oz)3.0–3.52.63.0–3.5
Copper(M lb)21.0–25.021.321.0–25.0
Other Metals($M)$34–$38$44$53–$56
Effective Tax Rate17–22%20.1%**17–22%
* Revised range shown in bold.
** Year to date effective tax rate excluding discrete tax items.
2
Corporate Activity
Buyback and Cancellation of Shares
During the third quarter, and in accordance with the previously announced $500 million share repur
Oct 20, 2026 · 100% conf.
1D
+0.79%
$238.76
Act: +1.32%
5D
+6.41%
$252.07
20D
+6.41%
$252.06
2 ex991q32026prequarterrelea.htm
Document
Exhibit 99.1
Royal Gold Provides Preliminary Financial Information and Details for the Release of Financial Results for the Third Quarter 2026
DENVER, COLORADO. October 20, 2026: ROYAL GOLD, INC. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold,” the “Company,” “we,” “us,” or “our”) announced preliminary financial information and details for the release of results for the quarter ended September 30, 2026 ("third quarter").
Preliminary Third Quarter Estimates
Royal Gold's stream sales and preliminary royalty sales and depreciation, depletion and amortization ("DD&A") estimates1 in the third quarter are as follows:
Stream Segment Sales$318.3M
GEOs274,700
Cost of Sales$834/GEO
Commodity breakdown:Metal Units SoldEnding Period Inventory
Gold57,600 oz23,300 oz
Silver772,300 oz424,200 oz
Copper3.8 Mlb—
Zinc1.3 Mlb—
Royalty Segment Sales3$143-149 M
Notable Third Quarter Financial Items
Notable financial items for the third quarter include:
•The repayment of $250 million of debt, resulting in an outstanding balance on the revolving credit facility of $150 million on September 30, 2026, leaving $1.25 billion undrawn and available.
•The repurchase of 190,045 shares at an average price of $259.83 per share, for total consideration of $49 million. The repurchased shares were cancelled.
1 Estimates are preliminary and are subject to change. See "Cautionary Note Regarding Preliminary Financial Information."
2 Gold Equivalent Ounces ("GEOs") are calculated as Royal Gold’s revenue (in total or by reportable segment) divided by the average London PM gold fixing price for the quarter ended September 30, 2026, of $4,262 per ounce.
3 Royalty Segment Sales and DD&A are presented as estimated ranges as final receipts are not yet available.
1
Details for Release of Third Quarter 2026 Financial Results
Royal Gold's results for the third quarter will be released after the market close on Wednesday, November 4, 2026, followed by a conference call on Thursday, November 5, 2026, at 12:00 p.m. Eastern Time (10:00 a.m. Mountain Time). The call will be webcast live and archived on the Company's website for a limited time.
Dial-In Numbers: +1 833-461-5787 (North America); toll free
+1 585-542-9983 (International)
Access Code: 999159628
Webcast URL: https://events.q4inc.com/attendee/999159628
Corporate Profile
Royal Gold is a high-margin, large-capitalization company that generates strong cash flows from a large and well-diversified portfolio of precious metal streams, royalties and similar production-based interests located in mining-friendly jurisdictions. Royal Gold shares trade under the symbol “RGLD” and provide growth, value, and income investors exposure to the metals & mining industry. The Company’s website is located at www.royalgold.com.
Additional Investor Information
Royal Gold routinely posts important information, including information about upcoming investor presentations and press releases, on its website under the Investor Resources tab. Investors and other interested parties are encouraged to enroll at www.royalgold.com to receive automatic email alerts for new postings.
For further information, please contact:
Alistair Baker Senior Vice President, Investor Relations and Business Development (303) 573-1660
This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from these statements. Forward-looking statements are often identified by words such as “will,” “may,” “could,” “should,” “would,” “believe,” “estimate,” “expect,” “anticipate,” “plan,” “forecast,” “potential,” “intend,” “continue,” “project,” or negatives of these words or similar expressions. Forward-looking statements include, among others, estimates for royalty segment sales and DD&A. Factors that could cause actual results to differ materially from these forward-looking statements include, among others, the completion of Royal Gold's normal quarter-end accounting procedures and adjustments (including normal year-to-date and quarter-end adjustments); the finalization of fair value and other estimates; further review by management; other developments that may arise between the date of this press release and the date on which final results are reported; and other factors described in our reports filed with the Securities and Exchange Commission, including Item 1A, Risk Factors of our most recent Annual Report. Most of these factors are beyond our ability to predict or control. Other unpredictable or unknown factors not discussed in this release or our reports filed with the Securities and Exchange Commission could also have material adverse
Aug 5, 2026 · 100% conf.
1D
+0.51%
$194.95
Act: +3.74%
5D
+6.70%
$206.95
20D
+4.23%
$202.17
2 rgld-20260805xexx991.htm
Document
Exhibit 99.1
Royal Gold Reports Strong Second Quarter Financial Results Including Record Operating Cash Flow, Repurchase of Shares and Further Repayment of Debt
DENVER, COLORADO. AUGUST 5, 2026: ROYAL GOLD, INC. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold,” the “Company,” “we,” “us,” or “our”) released financial results for the quarter ended June 30, 2026 ("second quarter").
“Financial results for the second quarter were strong and we made meaningful progress on executing our priorities,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “We continued our disciplined approach to capital allocation. We repaid debt, repurchased and cancelled shares, and invested capital toward our Warintza and Hod Maden portfolio interests. We also continued progress on simplifying the Sandstorm portfolio with the restructuring of the Hod Maden joint venture interest and the settlement of the fixed delivery obligations at the Relief Canyon mine. After a solid first half of the year driven by our large and diversified portfolio, our outlook for the second half remains positive, and we will maintain our discipline and long term focus as we consider alternatives to accretively deploy capital in an active environment for new business development opportunities."
Second Quarter Highlights
Financial/Operating
•Revenue of $450.5 million (compared to $209.6 million in the prior year period)
•Revenue split by commodity: 76% gold, 12% silver, 8% copper
•Record operating cash flow of $335.2 million (compared to $152.8 million in the prior year period)
•Net income of $236.4 million ($2.78 per share), and adjusted net income1 of $218.2 million ($2.56 per share) (compared to $132.3 million and $118.8 million, respectively, in the prior year period)
•Sales volume of 100,000 GEOs2 (compared to 63,900 in the prior year period)
•Adjusted EBITDA margin1 of 83% (compared to 84% in the prior year period)
Corporate
•Repaid $200 million on the revolving credit facility
•Increased total available liquidity to approximately $1.2 billion
•Paid quarterly dividend of $0.475 per share, a 6% increase over the prior year period
•Repurchased 147,205 shares at an average price of $203.80 per share, for total consideration of $30 million
•Sold 5,000 ounces of gold received from the settlement of remaining fixed delivery obligations with Americas Gold and Silver Corporation ("Americas") related to the Relief Canyon mine
1 Adjusted net income, adjusted net income per share and adjusted EBITDA margin are non-GAAP financial measures. See Schedule A of this press release for additional information, including reconciliations to the most directly comparable GAAP measures.
2 See Schedule A of this press release for additional information about gold equivalent ounces, or GEOs.
1
•Advanced a further $50 million under the stream agreement to Solaris Resources Inc. ("Solaris") following technical approval of the environmental impact assessment ("EIA") and publication of a pre-feasibility study ("PFS") for the Warintza Project
•Restructured ownership of the Hod Maden Project interests and funded $70 million in project costs
•Added a new $600 million uncommitted accordion facility to the $1.4 billion revolving credit facility
Post Quarter Events
•Repaid $75 million on the revolving credit facility on July 15, 2026, reducing the amount currently drawn to $325 million and increasing the amount available and undrawn to $1.075 billion
•Closed the Hod Maden ownership restructuring and received a new 2.5% net smelter return ("NSR") royalty on the Hod Maden Project
Revenue Summary
Three Months Ended June 30,Six Months Ended June 30,
Revenue (millions)20262025% Change20262025% Change
Gold$343.9 $164.3 109.3 %$677.8 $310.0 118.6 %
Silver55.6 24.1 131.0 %128.6 47.7 169.8 %
Copper37.9 14.8 156.4 %84.5 31.6 167.7 %
Other Metals13.2 6.5 103.7 %28.8 13.8 108.5 %
Total revenue$450.5 $209.6 114.9 %$919.7 $403.1 128.2 %
GEOs2 100,00063,90056.5 %196,000131,50049.0 %
Revenue split stream / royalty69% / 31%64% / 36%68% / 32%63% / 37%
Outlook for 2026
Royal Gold provided guidance for 2026 metal sales volumes, depreciation, depletion and amortization ("DD&A") expense and effective tax rate in March, 2026. We are currently forecasting that performance against these metrics will be within the ranges provided with the exceptions of sales of copper and other metals, which are trending to be around or above the top end of the respective guidance ranges.
2026 Guidance RangesActual Performance Through June 30, 2026
Total Sales
Gold(oz)290,000–320,000143,968
Silver(M oz)3.0–3.51.6
Copper(M lb)21.0–25.014.2
Other Metals(M)$34–$38$29
Effective Tax Rate17–22%19.9%*
* Year to date effective tax rate excluding discrete tax items.
2
Corporate Activity
Buyback and Cancellation of Shares
During the second quarter, and in accordance with the
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