RGLD · Royal Gold Inc
$233.64
-1.00 (-0.43%)
At close · Oct 5
Return incl. dividend (before tax)
Market Cap
$21.39B
Shares
84.73M
Volume · Oct 5
701.21K
Avg daily vol (3M)
693.69K
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$233.64
Open$235.00
Day$229.53–236.07
52W close$169.08–304.29
Avg vol 30d668K
Short int2.2M · 2.6% float · 4.0d
Short vol50%
Last earningsAug 6, 2026
DataJan 2020–Oct 2026
Filing10-Q · Aug 6
Up next
Next earnings call
Nov 5, 2026
Est · unconfirmed
· in 4 wks
filed Aug 6, 2026
call held Aug 6, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
$1.55B
Trailing 12 months
Net income (TTM)
$737.96M
Trailing 12 months
Revenue growth YoY
+114.9%
Year over year
Operating margin
61.4%
Trailing 12 months
P / E (TTM)
26.0
Trailing earnings · reciprocal yield 3.9%
FCF yield
—
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
—
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
+29.2%
Year over year · more shares
Price change (1Y)
+17.9%
Trailing year
Short interest
2.6%
Latest settlement · 4.0 days to cover
AI Brief
Q2 FY26 earnings call · Aug 6, 2026
Q2 FY26
TL;DR. Royal Gold reported Q2 revenue of $450.5 million (up 115% year-on-year) and record operating cash flow of $335.2 million (up 119%), while management said copper and other-metals sales are tracking to or above the top end of 2026 guidance, and gold/silver are tracking within the range.
Bullish
- + Q2 revenue rose 115% year-on-year to $450.5M, with operating cash flow up 119% to a record $335.2M.
- + Net income grew to $236.4M ($2.78/sh) from $132.3M a year earlier, with adjusted net income of $218.2M ($2.56/sh).
- + Copper and other-metals sales are trending to or above the top end of 2026 guidance ranges, with gold and silver tracking well to their ranges.
- + Liquidity strengthened to ~$1.2 billion after $200M of revolver repayment and a subsequent $75M post-quarter repayment, with intent to fully repay the revolver in Q4.
Bearish
- − Income tax expense jumped to $58.2M from $10.5M, lifting the effective tax rate to 19.7% from 7.4%.
- − Cost of sales (excl. DD&A) nearly tripled to $60.1M from $24.2M, driven by higher metal-price-linked stream payments and new Sandstorm/Horizon volumes.
- − DD&A expense roughly tripled to $96.2M from $31.2M, with $12M tied to the Relief Canyon gold delivery.
- − G&A expense rose to $13.4M from $10.3M, with management guiding to the high end of the $50M-$60M full-year range.
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Neutral
SellHoldBuy
Technical
Neutral
Momentum
Weak
Sentiment
Neutral
Fundamentals
Excellent
Quant / Vol
Moderate
Market backdrop
VIX 15.5 · calm
Equity put/call 0.59
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−3%
below
Price vs 50-day avg
−3%
below
RSI (14)
39
neutral
MACD trend
Negative
52-week position
48%
mid-range
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−11%
trailing
6-month return
−14%
trailing
YTD return
+5%
this year
Relative strength
−26%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $241 › 200d $241 — 200d above 50d
Institutional flow
Accumulating
10 of 768 funds reported for Sep 30 · net +1.4K sh shares
Insider flow
Distributing
Net -$131.4K over 90 days · 100% sells
Short interest
Falling
2.62% of float · ▼ -13.8% MoM · 4.0 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
768 holders — mid 3-yr range
Squeeze score
50
elevated · 0–100
Fundamentals
Revenue growth
+43%
Y/Y
Gross margin
69%
expanding
EPS growth
+33%
Y/Y
Buyback
$470.0M
remaining
Balance sheet
$141.8M
net debt
Quant / Vol
risk profile
Volatility
42%
annualized · 1-yr
Max drawdown
−38%
past year
ATR
3.0%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed Aug 5, 2026
Effective Tax Rate
· 2026
17% – 22%
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Neutral
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−3%
Neutral
Price vs 50-day avg
−3%
Neutral
RSI (14)
39
Neutral
MACD trend
Negative
Bearish
52-week position
48%
Neutral
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Bullish · 2 of 6
Trend (MA cross)
No cross
50d $241 › 200d $241 — 200d above 50d
Institutional flow
Accumulating
10 of 768 funds reported for Sep 30 · net +1.4K sh shares
Insider flow
Distributing
Net -$131.4K over 90 days · 100% sells
Short interest
Falling
2.62% of float · ▼ -13.8% MoM · 4.0 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
768 holders — mid 3-yr range
Price context
position in its 52-week range
Range low $169
Now $234 · 48%
Range high $304
vs 200-day avg -3%
vs 50-day avg -3%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Average all-in borrowing rate on revolving credit facility | 4.9% | the three months ended June 30, 2026 filing | — |
| Gold stream deliveries from Andacollo | 11,300 | the three months ended June 30, 2026 filing | — |
| Gold stream deliveries from Kansanshi | 7,500 | the three months ended June 30, 2026 filing | — |
| Gold stream deliveries from Mount Milligan | 10,200 | the three months ended June 30, 2026 filing | — |
| Gold stream deliveries from Pueblo Viejo | 6,900 | the three months ended June 30, 2026 filing | — |
| Production attributable to royalty interests at the Cortez Legacy Zone | 38,400 | the three months ended June 30, 2026 filing | — |
| Silver stream deliveries from Pueblo Viejo | 254,000 | the three months ended June 30, 2026 filing | — |
| Adjusted EBITDA margin non-GAAP | 83% | Q2 2026 | — |
| Adjusted net income non-GAAP | $218.2M | Q2 2026 | — |
| Adjusted net income attributable to Royal Gold common stockholders per diluted share non-GAAP | $2.56 | Three Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net income attributable to Royal Gold common stockholders per diluted share $2.78
-$0.26 Fair value changes in equity securities
-$0.03 Gain on settlement of Relief Canyon fixed obligation
-$0.01 Gain on sale of marketable securities
+$0.08 Tax effect of adjustments
= Adjusted net income attributable to Royal Gold common stockholders per diluted share $2.56
|
|||
| Average all-in borrowing rate | 4.8% | the three months ended June 30, 2026 | — |
| Average amount outstanding under revolving credit facility | $476.6M | the three months ended June 30, 2026 | — |
| Average copper price | $6.05 | Q2 2026 | — |
| Average gold price | $4,506 | Q2 2026 | — |
| Average price of shares repurchased | $203.8 | Q2 2026 | — |
| Average silver price | $73.15 | Q2 2026 | — |
| Production attributable to royalty interests at the Cortez CC Zone | 130,800 | Q2 2026 | — |
| Production attributable to royalty interests at the Cortez Complex | 169,200 | Q2 2026 | — |
| Quarterly dividend per share | $0.48 | Q2 2026 | — |
| Record operating cash flow | $335.2M | Q2 2026 | — |
| Sales volume of GEOs | 100,000 | Q2 2026 | — |
| Shares outstanding | 84,673,027 | Q2 2026 | — |
| Shares repurchased | 147,205 | Q2 2026 | — |
| Total available liquidity | $1.2B | Q2 2026 | — |
| Total consideration for share repurchases | $30M | Q2 2026 | — |
| Undrawn and available under the revolving credit facility | $1B | the second quarter | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Gold — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
RGLD
this stock
Royal Gold Inc
|
$21.39B | +5.1% | +43.2% | — | 2.6% |
|
NEM
NEWMONT Corp /DE/
|
$127.95B | +16.0% | +10.3% | 15.3 | 1.6% |
|
AEM
Agnico Eagle Mines Ltd
|
$93.55B | +8.1% | +57.5% | — | 1.3% |
|
B
Barrick Mining Corp
|
$67.88B | -8.2% | — | — | 1.0% |
|
WPM
Wheaton Precious Metals Corp.
|
$64.91B | +16.0% | — | — | 1.4% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| RGLD | -2.8% | -10.9% | -14.0% | -1.0% | +5.1% |
| SPY | +1.2% | +0.6% | +11.6% | +1.6% | +13.6% |
| vs SPY | -4.0% | -11.5% | -25.5% | -2.6% | -8.5% |
Capital returns
Buyback program
· as of Jun 30, 2026
Authorized
$500.00M
Spent (derived)
$30.00M
Remaining
$470.00M
Spent
Remaining
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.