Royal Gold Inc

Royal Gold, Inc. (NASDAQ: RGLD) holds precious metal streams, royalties and similar production-based interests rather than operating mines itself. It earns revenue from metal it buys under stream agreements, typically at a fixed or spot-linked cost, and from royalties on mines run by third parties such as Centerra, Barrick, Newmont, Teck, First Quantum, Lundin Gold, MMG and IAMGOLD.

Acquisitions in 2025 substantially enlarged the portfolio:
- the Kansanshi gold stream from First Quantum;
- Sandstorm Gold and Horizon Copper, which closed in October 2025.

These deals added interests such as Antamina, Fruta del Norte, Chapada, Caserones, Greenstone, Bonikro, Houndé, Cerro Moro, South Arturo and Woodlawn, plus a 15% joint venture interest in Turkey's Hod Maden project.

In Q3 2026, revenue came 73% from gold, 14% from silver and 10% from copper, split about 68% streams and 32% royalties. By region, North America contributed 55%, South and Central America 24%, EMEA 17% and Australia Pacific 4%.

Principal properties include Mount Milligan, Pueblo Viejo, Cortez, Andacollo and Kansanshi. The company also holds development-stage interests such as Warintza, Great Bear, Red Chris, MARA, Troilus and Corani. Royal Gold returns capital through a quarterly dividend and a $500 million share repurchase program. Updated Nov 4, 2026