Royal Gold (RGLD) AI Stock Analysis

• Market Cap: $21.45B
• Dividend Yield: 0.77%
• Average Volume (3M): 916.17K
• Price to Earnings (P/E): 34.8
• Beta (1Y): 0.53
• Revenue Growth: 28.11%
• EPS Growth: 66.85%
• Country: US
• Employees: 30
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 2.06
• Shares Outstanding: 84,398,060
• 10 Day Avg. Volume: 860,337
• 30 Day Avg. Volume: 916,173
• PEG Ratio: 0.68
• Price to Book (P/B): 2.78
• Price to Sales (P/S): 12.15
• P/FCF Ratio: 20.28
• Enterprise Value/Market Cap: 0.64
• Enterprise Value/Revenue: 16.11
• Enterprise Value/Gross Profit: 21.31
• Enterprise Value/Ebitda: 19.62
• 1Y Price Target: $258.22
• Price Target Upside: -0.36% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 9
• EPS Forecast (FY): 11.47
• Revenue Forecast (FY): $1.81B

• Rating: 76 Outperform
• Price Target: $287.00 ▲(10.75% Upside)

The score is driven primarily by strong underlying profitability and upbeat operating performance, supported by a clear uptrend in the technical picture. It is moderated by weak TTM free cash flow and a higher debt load tied to acquisitions, along with a valuation that looks expensive versus earnings and a modest dividend yield.

Positive Factors

Revenue Growth

Strong revenue growth indicates effective business strategies and robust demand for Royal Gold's streaming and royalty agreements, supporting long-term financial stability.

Debt-Free Balance Sheet

A debt-free balance sheet enhances financial flexibility and reduces risk, allowing Royal Gold to capitalize on growth opportunities without financial strain.

Executive Stability

Stable leadership through new executive agreements aligns incentives with performance, fostering consistent strategic direction and operational continuity.

Negative Factors

Silver Sales Challenges

Lower silver sales highlight potential issues in production or market demand, which could impact revenue diversification and growth if not addressed.

Deferred Silver Deliveries

Deferred deliveries can delay revenue recognition and cash flow, affecting short-term financial performance and potentially straining operational resources.

Uncertainty in Key Asset Guidance

Uncertainty in production forecasts for key assets could lead to revenue volatility and impact long-term strategic planning and investor confidence.

Royal Gold Business Overview & Revenue Model

Company Description

Royal Gold, Inc., together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and cobalt. As of June 30, 2022, the Company owned interests in 185 properties on five continents, including interests on 41 producing mines and 19 development stage projects. Its stream and royalty interests on properties are located in the United States, Canada, Chile, the Dominican Republic, Australia, Africa, Mexico, and internationally. Royal Gold, Inc. was incorporated in 1981 and is headquartered in Denver, Colorado.

How the Company Makes Money

Royal Gold generates revenue through its streaming and royalty agreements with mining companies. Under these agreements, Royal Gold provides capital to mining companies for the development of mining projects in exchange for a percentage of the mine's future production at a fixed, below-market price, or a percentage of revenue. The company earns income primarily from the sale of the metals it receives through these agreements at market prices, which can be significantly higher than the fixed costs. Additionally, Royal Gold benefits from increases in metal prices and production levels at the mines in which it holds interests. Key revenue streams for the company include royalties, which are calculated as a percentage of revenue from the mine, and streams, which involve purchasing a portion of the mine's production at a discounted rate. The company also seeks to diversify its portfolio by entering into agreements with multiple mining operators across different geographic locations and maintaining a focus on high-quality, long-life assets. Significant partnerships with established mining companies and a disciplined approach to investment further contribute to Royal Gold's earnings and growth potential.

Royal Gold Financial Statement Overview

Summary

Royal Gold exhibits strong financial performance with robust revenue and profit growth. The company maintains a debt-free balance sheet, enhancing its financial stability. Strong cash flow generation supports ongoing operations and potential future investments, positioning the company well within the mining industry.

Income Statement

Royal Gold has demonstrated strong growth in its income statement metrics. The gross profit margin increased, indicating improved operational efficiency. Revenue grew significantly by 18.77% from 2023 to 2024, showcasing robust growth in a competitive mining sector. Net profit margin also improved, suggesting effective cost management and operational strategies. Both EBIT and EBITDA margins are strong, reflecting efficient earnings generation.

Balance Sheet

The balance sheet reflects a strong financial position with zero debt as of 2024, which is a positive indicator of financial health and low leverage risk. The company's equity ratio is high, indicating a solid capital structure. Return on equity showed an impressive increase to 10.64%, highlighting effective use of equity to generate profits. The absence of debt reduces financial risk, enhancing stability.

Cash Flow

Royal Gold's cash flow statement reveals a positive trajectory in free cash flow, which grew by 3.35% from 2023 to 2024, indicating improved cash generation capability. The operating cash flow to net income ratio is strong, signifying efficient conversion of profits into cash. However, the free cash flow to net income ratio remains stable, suggesting consistent cash flow management despite fluctuations in capital expenditures.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	855.95M	712.77M	598.42M	596.18M	645.17M	615.86M
Gross Profit	646.99M	615.26M	507.90M	501.54M	546.70M	332.65M
EBITDA	702.60M	574.33M	468.14M	466.93M	517.40M	529.63M
Net Income	480.08M	332.02M	239.44M	238.98M	274.04M	302.53M
Balance Sheet
Total Assets	4.47B	3.39B	3.36B	3.53B	2.76B	2.65B
Cash, Cash Equivalents and Short-Term Investments	172.85M	195.50M	104.17M	118.59M	143.55M	225.92M
Total Debt	770.20M	0.00	245.97M	571.57M	0.00	0.00
Total Liabilities	1.05B	260.92M	460.42M	781.05M	155.82M	148.19M
Stockholders Equity	3.41B	3.12B	2.89B	2.74B	2.59B	2.49B
Cash Flow
Free Cash Flow	-607.17M	426.94M	413.11M	-504.81M	239.00M	239.00M
Operating Cash Flow	604.19M	529.50M	415.79M	417.35M	407.15M	407.15M
Investing Cash Flow	-1.20B	-77.68M	-2.83M	-922.88M	-116.74M	-116.74M
Financing Cash Flow	644.64M	-360.49M	-427.38M	480.57M	-383.63M	-383.63M

Royal Gold Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 259.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RGLD, the sentiment is Positive. The current price of 259.15 is above the 20-day moving average (MA) of 235.67, above the 50-day MA of 210.67, and above the 200-day MA of 185.13, indicating a bullish trend. The MACD of 12.13 indicates Negative momentum. The RSI at 80.75 is Negative, neither overbought nor oversold. The STOCH value of 95.87 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RGLD.

Royal Gold Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NEM	81 Outperform	$124.57B	17.74	22.84%	0.95%	26.25%	―
GFI	79 Outperform	$44.92B	23.65	35.09%	1.51%	49.62%	195.39%
HMY	77 Outperform	$14.04B	17.02	32.05%	0.87%	29.08%	72.12%
RGLD	76 Outperform	$21.45B	34.85	14.90%	0.77%	28.11%	66.85%
AU	73 Outperform	$50.24B	42.63	―	2.82%	26.43%	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
SBSW	58 Neutral	$12.52B	-63.11	-8.31%	―	6.27%	93.14%

Royal Gold Corporate Events

Royal Gold Completes Major Acquisitions Expanding Portfolio

On October 20, 2025, Royal Gold announced the completion of its acquisitions of Sandstorm Gold Ltd. and Horizon Copper Corp., significantly expanding its portfolio in the gold streaming and royalty sector. These transactions increase Royal Gold’s scale and diversification, positioning it as a leading North American precious metal streaming and royalty company with enhanced potential for organic growth. The acquisitions involved issuing approximately 18.6 million shares of Royal Gold common stock to Sandstorm shareholders and drawing $450 million on its revolving credit facility to fund the cash consideration for Horizon shareholders. The Supreme Court of British Columbia approved the Sandstorm Arrangement on October 15, 2025, affirming its fairness to all parties involved.

The most recent analyst rating on (RGLD) stock is a Buy with a $257.00 price target. To see the full list of analyst forecasts on Royal Gold stock, see the RGLD Stock Forecast page.