Royal Gold (RGLD)
Funds mine operators in exchange for precious-metal royalties and streams.
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Funds mining companies and acquires existing interests to build a portfolio of precious-metal streams and royalties. Operators run the underlying mines, while contractual terms provide exposure to gold, silver, and copper production and revenue across producing, development, and exploration-stage properties.
Provides capital to mining companies and acquires existing interests in exchange for precious-metal streams and royalties. Streams confer rights to buy specified mine output at contract prices, while royalties provide a share of production or related revenue after agreed deductions.
Manages two reportable businesses—stream interests and royalty interests—across producing, development, evaluation, and exploration-stage properties. Gold is the primary commodity exposure, alongside silver and copper, and the underlying assets span multiple continents.
Runs the model through contract management and disciplined capital allocation without controlling mine development or day-to-day operations. Results depend on operators' development and production, mine lives, commodity prices, permitting, host-country conditions, and the enforceability of agreement terms.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 14, 2026 | Scotiabank | Reiterate | Rating: —Target: $335 | Target: $310 |
| Jul 9, 2026 | RBC Capital | Reiterate | Rating: —Target: $170 | Target: $305 |
| Jul 6, 2026 | Jefferies | Reiterate | Rating: —Target: $270 | Target: $311 |
| Jun 30, 2026 | UBS | Reiterate | Rating: —Target: $325 | Target: $280 |
| Apr 15, 2026 | UBS | Target | Target: — | Target: $325 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $182.5M · Total debt $395.9M · Total assets $9.45B · Shareholders' equity $7.59B
- Revenue
- $450.5M
- Operating income
- $279.9M
- Net income
- $236.4M
HistoryDividendAnnual yieldUpcoming
| Institutions | 84.30% | 71.43M shares | |
|---|---|---|---|
| 799 holders · as of Jun 30, 2026 | |||
| Insiders | 4.05% | 3.43M shares | |
| 11 holders · as of Sep 15, 2026 | |||
| Other | 11.65% | 9.87M shares | |
| remainder | |||
84.73M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 12.88% | 10.91M | as of Jun 30, 2026 |
Capital World InvestorsInstitution | 11.00% | 9.32M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.87% | 4.13M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.61% | 3.90M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.48% | 3.80M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 3, 2026 | William Holmes Heissenbuttel | director, officer: President & CEO | −7,275 | $263.38 |
| Aug 28, 2026 | Randy Shefman | officer: SVP & General Counsel | −500 | $262.80 |
| Jun 16, 2026 | Randy Shefman | officer: SVP & General Counsel | −500 | $215.85 |
| May 11, 2026 | Randy Shefman | officer: SVP & General Counsel | −1,000 | $243.74 |
| Mar 12, 2026 | Mark Isto | director | −2,000 | $274.83 |
- Franco-Nevada
Large-scale rival in gold royalties, streams, and mine financing
- Wheaton Precious Metals
Streaming leader in gold and silver mine financing
- OR Royalties
Americas-focused rival in gold royalties and streams
- Triple Flag Precious Metals
Gold-and-silver royalty and streaming finance rival
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Royal Gold | $253.25 | −1.96% | $21.23B | 27.3 | 21.8 | 13.7 | +114.9% |
| Franco-Nevada | $267.20 | +0.03% | $50.47B | 34.2 | 30.1 | 21.8 | +57.3% |
| Wheaton Precious Metals | $154.10 | +0.16% | $67.06B | 32.7 | 29.9 | 21.1 | +84.7% |
| OR Royalties | $37.55 | +0.01% | $6.77B | 24.1 | 23.0 | 18.7 | +62.1% |
| Triple Flag Precious Metals | $33.73 | −0.03% | $6.77B | 16.4 | 26.6 | 13.9 | +37.3% |
| Median | 28.4 | 28.3 | 19.9 | +59.7% |