RGLD
Royal Gold, Inc.218.09
+2.09+0.97%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
18.41BP/E (TTM)
29.96Basic EPS (TTM)
7.28Dividend Yield
0%Recent Filings
8-K
Record revenue, major acquisitions
Royal Gold crushed Q3 2025 with record revenue of $252.1 million and operating cash flow of $174.0 million, fueled by soaring gold prices at $3,457 per ounce and strong output from streams like Mount Milligan. The company snapped up the Kansanshi gold stream for $1 billion and closed acquisitions of Sandstorm Gold—issuing 18.6 million shares and paying $380.9 million cash—and Horizon Copper for C$127.1 million, bulking up its portfolio for more scale and diversification. Acquisitions boost growth potential. Integration risks loom large.
8-K
Royal Gold seals Sandstorm, Horizon deals
Royal Gold completed its all-stock acquisition of Sandstorm Gold on October 20, 2025, issuing 18.6 million shares at a 0.0625 exchange ratio, while former Sandstorm holders now own 22.5% of the combined entity. The firm also closed the all-cash buyout of Horizon Copper for C$127 million, funded partly by drawing $450 million from its $1.4 billion credit facility, leaving $175 million available. These moves boost Royal Gold's precious metals portfolio scale and diversification. Integration risks loom large.
8-K
Acquisitions approved by shareholders
Royal Gold's stockholders overwhelmingly approved the issuance of shares for acquiring Sandstorm Gold Ltd. and Horizon Copper Corp. on October 9, 2025, with 99.1% voting in favor amid an 80.3% turnout. Securityholders of both targets also backed the deals, paving the way for anticipated closures on October 20, 2025, pending British Columbia court approval and Nasdaq listing. This bolsters Royal Gold's precious metals portfolio. Yet risks loom if conditions falter.
8-K
Mount Milligan life extended to 2045
Royal Gold highlighted Centerra Gold's pre-feasibility study extending Mount Milligan's mine life by 10 years to 2045, boosting reserves 56% to 4.4 million ounces of gold and 52% to 1.7 billion pounds of copper. This fortifies Royal Gold's largest stream interest, with 35% gold and 18.75% copper purchase rights, plus cost support enhancing payments up to 66% of spot prices. Production averages 150,000 ounces gold and 69 million pounds copper annually through 2042. Yet permitting delays could disrupt timelines.
10-Q
Q2 FY2025 results
Royal Gold's Q2 FY2025 revenue climbed 20.3% y/y to $209.6M, fueled by higher gold prices and stronger royalty output from Peñasquito and Manh Choh, while stream deliveries dipped at Xavantina. Operating income surged 38.9% y/y to $141.8M, with gross margins expanding to 72.6% from 64.7% on lower depletion charges. Diluted EPS rose 63.4% y/y to $2.01, reconciling precisely with net income of $132.3M and 65.8M weighted shares. Cash swelled to $248.2M, with operating cash flow up 14.9% y/y to $289.2M YTD; free cash flow not disclosed in the 10-Q. Recent deals include the $200M Warintza stream and royalty closed May 2025 for $100M cash, recognizing $95.2M exploration-stage interests, and the $50M Xavantina extension in March 2025. Liquidity stands strong with $1.0B revolver availability at quarter-end, extended to June 2030. Yet commodity price swings remain a persistent drag.
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