# Royal Gold, Inc. (RGLD)

> Source: Nexqual · https://nexqual.com/RGLD · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Royal Gold, Inc. (RGLD), nexqual.com/RGLD" · informational, not investment advice.

**Price:** USD 234.72 (-3.01% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 234.72 · day 231.81–237.48 · 52w 168.88–306.25 · market cap null · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.55B, net income $738M (47.7% margin) (SEC filings).
- 1 of 80 tracked superinvestors hold RGLD (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 2.17 on a 1–5 scale) (12 analysts), mean target USD 308.75 (range 222–380).
- Total return with dividends: 1Y +29.1% vs S&P 500 +14.9%; 5Y +150.7% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD 2.59, revenue estimate $455M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $654M | $603M | $606M | $719M | $1.03B | $1.55B |
| Gross profit | — | $323M | $343M | $471M | $714M | — |
| Operating income | $328M | $284M | $303M | $430M | $638M | $950M |
| Net income | $274M | $239M | $239M | $332M | $466M | $738M |
| EPS (diluted) | $4.17 | $3.63 | $3.63 | $5.04 | $6.69 | — |
| Gross margin | — | 53.6% | 56.7% | 65.5% | 69.3% | — |
| Operating margin | 50.2% | 47.0% | 50.1% | 59.8% | 61.9% | 61.4% |
| Net margin | 41.9% | 39.6% | 39.5% | 46.2% | 45.2% | 47.7% |
| Revenue growth | — | -7.7% | +0.4% | +18.8% | +43.2% | — |
| Cash + short-term investments | $144M | $119M | $104M | $195M | $234M | — |
| Total debt | — | $572M | $246M | $0K | $895M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)

P/E at fiscal year-ends: Dec 2025 33.2x, Dec 2024 26.1x, Dec 2023 33.2x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold RGLD. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.29% | $172M | Reduced -6.1% |

## Analysts
Consensus Buy (mean 2.17 on a 1–5 scale), 12 analysts; mean target USD 308.75 (low 222, high 380).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-16 | RBC Capital | Target raised | Outperform | $305 → $325 |
| 2026-08-07 | UBS | Target raised | Buy | $280 → $285 |
| 2026-07-09 | RBC Capital | Target lowered | Outperform | $310 → $305 |
| 2026-07-06 | Jefferies | Target lowered | Buy | $318 → $311 |
| 2026-06-30 | UBS | Target lowered | Buy | $325 → $280 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +29.1% | +150.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +29.2% | +20.1% |
| Volatility (annualized) | 41.0% | 33.2% |
| Max drawdown | -38.2% (Mar 2026→Jul 2026) | -39.5% (Mar 2022→Sep 2022) |

## Peers (Gold)
PAAS (Pan American Silver Corp.) USD 41.07 -5.91% · KGC (Kinross Gold Corporation) USD 22.68 -4.79% · CDE (Coeur Mining, Inc.) USD 13.88 -8.26% · AGI (Alamos Gold Inc.) USD 30.3 -4.48% · GFI (Gold Fields Limited) USD 35.14 -4.51% · EQX (Equinox Gold Corp.) USD 10.36 -6.16%

## More
Full page: https://nexqual.com/RGLD · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name RGLD in their own reports (relationship from RGLD's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| related | Versamet Royalties Corp (VMET) | 20-F 2026-04-30 | "On October 20, 2025, Sandstorm was acquired by Royal Gold and Royal Gold became a related party through its acquired share ownership in the Company." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.59 | $2.62 | -1.0% | $455.0M | 8 |
| Next quarter (ends 2026-12-31) | $2.68 | $2.79 | -4.1% | $452.5M | 7 |
| Current fiscal year (ends 2026-12-31) | $10.50 | $10.75 | -2.3% | $1.84B | 11 |
| Next fiscal year (ends 2027-12-31) | $12.68 | $13.09 | -3.2% | $2.14B | 11 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-04): ±8.8%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 37.8% | ±8.8% |
| 2026-12-18 | 56 | 36.8% | ±11.7% |
| 2027-01-15 | 84 | 36.4% | ±14.0% |
| 2027-04-16 | 175 | 38.0% | ±20.9% |
| 2027-06-17 | 237 | 38.3% | ±24.5% |
| 2027-09-17 | 329 | 38.5% | ±28.9% |