Earnings summaries and quarterly performance for ROYAL GOLD.
Executive leadership at ROYAL GOLD.
William Heissenbuttel
Detailed
Chief Executive Officer
CEO
Daniel Breeze
Detailed
Senior Vice President, Corporate Development, RGLD Gold AG
Martin Raffield
Detailed
Senior Vice President, Operations
Paul Libner
Detailed
Senior Vice President and Chief Financial Officer
Randy Shefman
Detailed
Senior Vice President and General Counsel
Board of directors at ROYAL GOLD.
Research analysts who have asked questions during ROYAL GOLD earnings calls.
Cosmos Chiu
CIBC World Markets
4 questions for RGLD
Also covers: AGI, EGO, FNV +5 more
Derick Ma
TD Cowen
3 questions for RGLD
Also covers: FNV, SAND, TFPM +2 more
Joshua Wolfson
RBC Capital Markets
3 questions for RGLD
Also covers: AEM, AU, FNV +7 more
Lawson Winder
Bank of America
3 questions for RGLD
Also covers: AA, AEM, CCJ +21 more
Tanya Jakusconek
Scotiabank
3 questions for RGLD
Also covers: AEM, AU, BVN +11 more
Brian MacArthur
Raymond James Financial, Inc.
2 questions for RGLD
Also covers: CCJ, CDE, CGAU +9 more
Carey MacRury
Canaccord Genuity Group Inc.
1 question for RGLD
Also covers: AAUCF, AGI, ARMN +3 more
Fahad Tariq
Jefferies Financial Group
1 question for RGLD
Also covers: AEM, ERO, FNV +6 more
Recent press releases and 8-K filings for RGLD.
Royal Gold Completes Transformative Acquisitions and Outlines Growth Strategy
RGLD
M&A
New Projects/Investments
Debt Issuance
- Royal Gold completed a transformative year, acquiring Sandstorm Gold and Horizon Copper, along with major transactions on the Warintza and Kansanshi projects, significantly expanding its portfolio.
- The company now boasts a highly diversified portfolio with over 80 producing assets, 40 development assets, and 200 early-stage assets, reducing single-asset dependency, with its largest asset, Mount Milligan, representing 10-13% of net asset value.
- Royal Gold reported just over 80 million shares outstanding following the Sandstorm transaction and ended Q3 with $1.2 billion of debt. The company plans to repay this debt within a couple of years, partly funded by the sale of non-core assets like its 25% position in Versamet for over CAD 200 million.
- The company maintains a high-margin business model with strong leverage to gold prices and anticipates significant organic growth from a robust pipeline of new projects expected to enter production over the next decade, with long-term guidance to be provided at an investor day in late March 2026.
6 days ago
Royal Gold Details Transformative Year and Growth Strategy
RGLD
M&A
New Projects/Investments
Dividends
- Royal Gold experienced a transformative year, completing the acquisitions of Sandstorm Gold and Horizon Copper in late October, alongside significant transactions for the Warintza and Kansanshi projects, which have added scale, diversity, and growth to its portfolio.
- The company's portfolio saw positive developments, including a 10-year mine life extension at its largest asset, Mount Milligan, and the "most interesting and important gold discovery of the century" at the Fourmile project in Nevada, with Platreef expected to generate its first revenue in 2026.
- Royal Gold maintains a high-margin business model with an average 80% EBITDA margin and low, fixed costs, and has announced its 25th consecutive dividend increase for 2026.
- Despite strong performance and growth potential, Royal Gold is currently trading at the low end of its peer group, attributed partly to the recent issuance of approximately 18 million shares for the Sandstorm acquisition and an increased debt level of $1.2 billion.
6 days ago
Royal Gold, Inc. Highlights Gold-Focused Royalty Model and Strong 2024 Financial Performance
RGLD
Earnings
M&A
New Projects/Investments
- Royal Gold, Inc. operates a gold-focused royalty model, with 81% of its 2024 revenue from gold and 88% from precious metals.
- The company demonstrated strong financial performance in 2024, reporting $719 million in revenue, $586 million in Adjusted EBITDA, and $530 million in Operating Cash Flow, resulting in a 76% Adjusted EBITDA margin.
- Royal Gold's business model is highly efficient and scalable, managed by just 30 people across four offices as of June 30, 2025.
- The portfolio is highly diversified, encompassing approximately 400 property interests across various operators and jurisdictions, with about 60% of 2024 revenue from Canada, USA, and Australia.
- The acquisitions of Sandstorm Gold and Horizon Copper, which closed on October 20, 2025, are anticipated to further enhance the company's scale, growth, and optionality.
Dec 1, 2025, 12:00 PM
Royal Gold Reports Record Q3 2025 Results and Details Recent Acquisitions and Portfolio Growth
RGLD
Earnings
M&A
Guidance Update
- Royal Gold (RGLD) achieved record revenue of $252 million and record adjusted earnings of $136 million, or $2.06 per share, for Q3 2025, alongside record operating cash flow of $174 million.
- The company completed significant strategic acquisitions, including the $1 billion Goldstream transaction on Constantian and the acquisition of Sandstorm Gold and Horizon Copper. These transactions resulted in $1.225 billion currently drawn on its revolving credit facility, with a $75 million repayment planned for November 10.
- Key portfolio updates include the Mt. Milligan Mine Life Extension to 2045 and the Four Mile project's potential to produce 600,000-750,000 ounces annually over 25 years.
- Royal Gold anticipates providing 2026 guidance at an investor day in late March and expects to repay its outstanding debt around mid-2027.
Nov 6, 2025, 5:00 PM
Royal Gold Announces Record Q3 2025 Results and Acquisition Closures
RGLD
Earnings
M&A
New Projects/Investments
- ROYALGOLD.INC reported record revenue of $252.1 million and record cash flow from operations of $174.0 million for Q3 2025.
- Net income for the quarter was $126.8 million, or $1.92 per share, with adjusted net income reaching $136.2 million, or $2.06 per share.
- The company closed the acquisitions of Sandstorm Gold and Horizon Copper, and received the first gold delivery from the Kansanshi Mine after quarter end.
- As of September 30, 2025, Royal Gold had $775 million in debt outstanding and $813 million in total available liquidity, including an undrawn revolving credit facility of $625 million.
Nov 6, 2025, 5:00 PM
Royal Gold Reports Record Q3 2025 Results and Details Recent Acquisitions
RGLD
Earnings
M&A
Guidance Update
- Royal Gold reported record revenue of $252 million and record operating cash flow of $174 million for Q3 2025, with earnings of $1.92 per share and adjusted earnings of $2.06 per share.
- The company completed the $1 billion Goldstream transaction on Constantian and the acquisition of Sandstorm Gold and Horizon Copper in October, significantly expanding its portfolio.
- Key asset updates include the Mt. Milligan Mine Life Extension to 2045 and the Four Mile project's potential to produce 600,000-750,000 ounces annually over 25 years.
- Following recent acquisitions, Royal Gold's revolving credit facility has $1.225 billion drawn, with a planned $75 million repayment on November 10, and the company expects to repay the outstanding balance by mid-2027.
- Royal Gold is maintaining its 2025 guidance for metal sales, DD&A, and effective tax rate (excluding recent acquisitions) and plans an investor day in late March to provide 2026 guidance.
Nov 6, 2025, 5:00 PM
Royal Gold Reports Record Q3 2025 Results and Completes Major Acquisitions
RGLD
Earnings
M&A
Guidance Update
- Royal Gold reported record Q3 2025 revenue of $252 million and record operating cash flow of $174 million, with adjusted earnings reaching $2.06 per share.
- The company completed significant acquisitions, including the $1 billion Goldstream transaction on Kansanshi and the acquisition of Sandstorm Gold and Horizon Copper, which are expected to enhance portfolio diversification, growth potential, and duration.
- As of September 30, 2025, Royal Gold had $775 million drawn on its revolving credit facility, increasing to $1.225 billion post-quarter end for the Sandstorm and Horizon transactions, with a planned $75 million repayment in November.
- The company is maintaining its 2025 guidance and plans to provide 2026 guidance at an investor day in late March.
Nov 6, 2025, 5:00 PM
Royal Gold Reports Record Q3 2025 Financial Results and Strategic Acquisitions
RGLD
Earnings
M&A
Dividends
- Royal Gold reported record revenue of $252.1 million and operating cash flow of $174.0 million for the third quarter ended September 30, 2025, with net income of $126.8 million or $1.92 per share.
- Subsequent to the quarter, the company completed the acquisitions of Sandstorm Gold and Horizon Copper on October 20, 2025.
- A pre-feasibility study for the Mount Milligan mine indicates a mine life extension of approximately 10 years to 2045.
- A quarterly dividend of $0.45 per share was paid, representing a 12.5% increase over the prior year period.
Nov 5, 2025, 9:12 PM
Royal Gold Completes Sandstorm Gold and Horizon Copper Acquisitions
RGLD
M&A
New Projects/Investments
- Royal Gold, Inc. completed the acquisitions of Sandstorm Gold Ltd. and Horizon Copper Corp. on October 20, 2025, aiming to increase its scale, diversification, and potential for organic growth.
- The Sandstorm acquisition was an all-stock transaction, resulting in Royal Gold issuing approximately 18.6 million shares of common stock and increasing its outstanding share count to approximately 84.4 million shares.
- The Horizon acquisition was an all-cash transaction, funded by drawing $450 million from Royal Gold's $1.4 billion revolving credit facility, leaving $175 million undrawn and available as of October 20, 2025.
- Following the Sandstorm acquisition, persons who were Sandstorm shareholders now own approximately 22.5% of the combined company on a fully diluted basis, while Royal Gold shareholders own approximately 77.5%.
Oct 21, 2025, 9:14 PM
Royal Gold Completes Acquisition of Sandstorm Gold Royalties
RGLD
M&A
Delisting/Listing Issues
New Projects/Investments
- Royal Gold has completed the acquisition of Sandstorm Gold Royalties, gaining control over all outstanding Sandstorm shares.
- Following the acquisition, Sandstorm's shares will be delisted from both the Toronto Stock Exchange and the New York Stock Exchange.
- Sandstorm shareholders received 0.0625 of a share of common stock of Royal Gold for each Sandstorm share held as consideration.
- This acquisition aligns with Royal Gold's strategy to expand its portfolio of precious metal royalties and streams without assuming mining operational risks.
Oct 20, 2025, 11:33 AM
Quarterly earnings call transcripts for ROYAL GOLD.
Ask Fintool AI Agent
Get instant answers from SEC filings, earnings calls & more