AI-extracted from the 10-Q filed 2026-08-06 — Q2 FY2026 (six months ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Royal Gold revenue nearly doubled to $919.7M in H1 2026, driven by higher gold prices ($4,693/oz avg), new Kansanshi stream, and Sandstorm/Horizon acquisition assets.
Biggest Revenue Drivers
Royalty interests$295.9M+101% YoY
Higher gold and copper prices, increased Cortez Legacy Zone production, new Sandstorm/Horizon assets.
Biggest Revenue Drivers
Royalty interests$295.9M+101% YoY
Higher gold and copper prices, increased Cortez Legacy Zone production, new Sandstorm/Horizon assets.
Largest Expense Items
Depreciation, depletion and amortization$187.1M+192% YoY
Additional depletion from Kansanshi stream and Sandstorm/Horizon assets, Relief Canyon settlement expense.
Cost of sales$120.4M+147% YoY
Higher stream delivery payments due to elevated metal prices and new asset contributions.
General and administrative$31.0M+45% YoY
Higher employee and corporate costs from Sandstorm/Horizon acquisition, increased stock compensation.
Margins: Operating margin expanded significantly: operating income of $577.0M represents 63% of revenue vs. 66% prior year, with absolute dollar increase driven by metal price strength offsetting higher depletion from acquired portfolios. Gross segment profit margins benefited from elevated gold/silver/copper prices.
Watch Items from the Filing
Material debt paydown completed: $500M repaid in H1 2026, leaving $400M outstanding; revolving facility increased to $2.0B potential with accordion feature.
Gold price exposure dominance: 74% of revenue from gold; 10% price move = $72.9M revenue swing, creating high earnings volatility.
Hod Maden restructuring completed post-period (July 17, 2026): equity interest reduced from 30% to 15%, new 2.5% NSR royalty received; $70M equity funding advanced.
Mount Milligan stream decline: gold deliveries down 33% YTD (19k vs 28.4k oz), copper deliveries down 9% YTD (4.1M vs 4.5M lbs), partially offset by new Kansanshi contribution.
Effective tax rate 13.9% H1 2026 benefited from $33.7M discrete gain on foreign tax rate change; normalized rate trajectory unclear.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Chubbs FabianaDirectorGrant or award · Feb 26, 2026
Veenman Sybil EDirectorGrant or award · Feb 26, 2026
Congress trading in RGLD
8 transactions in RGLD reported by 3 members of Congress under the STOCK Act, most recent trade Aug 4, 2025. Reported transactions, not recommendations.
About ROYAL GOLD INC (RGLD): stock profile, AI score and financials
ROYAL GOLD INC (RGLD) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores RGLD at 81.5/100 on a composite quality score built from its SEC filings, placing it at rank #21 of 2,925 stocks — the top 1% of the AI-ranked universe. RGLD scores in the top quartile across free cash flow (97.7), profitability (96.0), revenue growth (95.2). Based on the latest XBRL financial filings (Q4 2026), ROYAL GOLD INC reports quarterly revenue of $450.5M, net income of $236.4M, an operating margin of 62.1%. Top institutional holders of RGLD by reported 13-F value include BlackRock, Capital World Investors, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. RGLD trades on the Nasdaq exchange and files with the SEC under CIK 85535. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate RGLD daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for ROYAL GOLD INC directly from SEC EDGAR.