Royal Gold Q1 revenue jumps on higher metal prices

Royal Gold

06/05/2026 22:03

Overview

Precious metals streaming firm's Q1 revenue rose sharply yr/yr but missed analyst expectations

Company attributed gains to strong metal prices and new portfolio interests

On May 4, board authorized $500 mln share repurchase program; On May 5, added $600 mln accordion to credit facility

Outlook

Royal Gold expects 2026 gold sales of 290,000–320,000 oz, silver sales of 3.0–3.5 mln oz

Company forecasts 2026 copper sales of 21.0–25.0 mln lb and other metals revenue of $34–38 mln

Royal Gold maintains 2026 DD&A guidance of $339–379 mln and effective tax rate of 17–22%

Result Drivers

HIGHER METAL PRICES - Co said increased average prices for gold, silver and copper contributed to higher revenue

PORTFOLIO EXPANSION - New revenue from recently acquired Kansanshi stream and Sandstorm Gold and Horizon Copper Corp assets boosted results

ASSET SALES - Gain from sale of Highlander Silver shares contributed to net income

Company press release: ID:nBw6SYwyWa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$469.10 mln
$481.77 mln (4 Analysts)
Q1 Adjusted Free Cash Flow
$293.60 mln
Q1 Dividend
$0.48


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the gold peer group is "buy"

Wall Street's median 12-month price target for Royal Gold Inc is $335.50, about 48.5% above its May 5 closing price of $225.90

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 23 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)