Royal Gold Q4 revenue misses estimates

Royal Gold

18/02/2026 21:20

Overview

Gold royalty company's Q4 revenue rose but missed analyst expectations

Company reported record operating cash flow for Q4 2025

Outlook

Royal Gold expects 2026 gold production at Pueblo Viejo to be 350,000-400,000 ounces

Company sees 2026 copper production at Kansanshi between 175,000 and 205,000 tonnes

Royal Gold forecasts 2026 silver production at Khoemacau to be 1.45-1.55 mln ounces

Result Drivers

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

ACQUISITIONS - Revenue growth in Q4 was supported by contributions from Sandstorm and Horizon acquisitions

KANSANSHI STREAM - Initial revenue from the Kansanshi gold stream contributed to Q4 results

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Miss
$375.30 mln
$392.11 mln (3 Analysts)
Q4 Adjusted Free Cash Flow
$241.70 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "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 $285.00, about 2.1% above its February 17 closing price of $279.07

The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release: ID:nBw1wk3YFa

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.)