Gold Royalty Announces Record First Quarter 2026 Preliminary Results
Rhea-AI Summary
Gold Royalty (NYSE American: GROY) reported record preliminary first quarter 2026 results on April 27, 2026. The company posted Total Revenue, Land Agreement Proceeds and Interest of $9.4 million and record revenue of $7.2 million, equivalent to 1,920 GEOs (up 162% YoY).
Gold Royalty reaffirmed 2026 production guidance of 7,500–9,300 GEOs, noting production will be more heavily weighted to the second half of 2026.
Positive
- Total Revenue, Land Agreement Proceeds and Interest $9.4M
- Record revenue of $7.2M in Q1 2026
- Production equivalent of 1,920 GEOs (+162% YoY)
- 2026 guidance maintained at 7,500–9,300 GEOs
Negative
- 2026 production materially weighted to second half due to mine ramping
News Market Reaction – GROY
In the Apr 27 session, GROY gained 2.30%, reflecting a moderate positive market reaction. Argus tracked a peak move of +3.9% during that session. Our momentum scanner triggered 16 alerts that day, indicating notable trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 18 | Full-year 2025 results | Positive | -9.5% | Record 2025 revenue, cash flow and strong GEO growth outlook through 2030. |
| Feb 19 | Credit facility update | Positive | +3.7% | Amended and upsized revolving facility to US$150M with reduced interest margin. |
| Jan 26 | Exploration drilling | Positive | -4.2% | Drilling at São Jorge project reported multiple gold mineralization intercepts. |
| Jan 22 | Management appointment | Neutral | +0.0% | Appointment of new VP Corporate Development and Investor Relations at GoldMining. |
| Jan 21 | Record Q4 and acquisition | Positive | +0.0% | Record Q4 and 2025 revenue plus completion of Borborema royalty acquisition. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent positive fundamental updates have not consistently produced positive price reactions, with several instances of good news followed by weak or negative moves.
Over recent months, Gold Royalty reported record 2025 revenue of $15.6 million, Total Revenue, Land Agreement Proceeds and Interest of $17.7–17.8 million, and completed the $45 million Borborema royalty acquisition. It also upsized its revolving credit facility to US$150 million at lower cost and highlighted strong multi‑year GEO growth guidance of 7,500–9,300 in 2026. The latest Q1 2026 preliminary record revenue and GEOs build directly on this growth and royalty-expansion narrative.
Key Terms
gold equivalent ounces technical
non-IFRS financial measures financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Preliminary First Quarter 2026 Results
In the first quarter of 2026, the Company achieved record Total Revenue, Land Agreement Proceeds and Interest* of
Gold Royalty maintains its 2026 full-year production guidance of 7,500 - 9,300 GEOs as released on March 18, 2026, with production more heavily weighted to the second half as DPM Metals' Vareš mine production is expected to reach its full run rate of 850,000 tonnes per year in 2026 and as Fortitude Gold's County Line mine ramps up after commencing operations in January.
David Garofalo, Chairman and CEO of Gold Royalty, commented: "2026 has started strongly for Gold Royalty. These new operating records reflect the success of our acquisition strategy, as recently acquired royalties on the Pedra Branca and Borborema mines contributed significantly to the quarterly result. We look forward to continued GEO growth as the year progresses."
* Total Revenue, Land Agreement Proceeds and Interest and GEOs are non-IFRS financial measures. See "Non-IFRS Measures" below.
First Quarter 2026 Results and Webcast Details
Gold Royalty expects to release its financial and operating results for first quarter of 2026 after market close on Wednesday, May 6, 2026.
A conference call will be held at 11:00 a.m. ET (8:00 a.m. PT) on Thursday, May 7, 2026 to discuss these results. To participate, please use one of the following methods:
Webinar: Click Here
US and
International: 1-412-206-6408
The first quarter 2026 results presentation will be available on Gold Royalty's website at www.goldroyalty.com and a replay of the event will be available following the presentation.
2026 Capital Markets Day
Gold Royalty will host its 2026 capital markets day on June 18, 2026 at 9:30 a.m. ET (6:30 a.m. PT). The event will be held in-person in
2026 capital markets day registration: Click Here
A replay of the event will be available following the presentation.
About Gold Royalty Corp.
Gold Royalty Corp. is a gold-focused royalty and streaming company offering creative financing solutions to the metals and mining industry. Its mission is to invest in high-quality, sustainable, and responsible mining operations to build a diversified portfolio of precious metals royalty and streaming interests that generate superior long-term returns for our shareholders. Gold Royalty's diversified portfolio currently consists primarily of net smelter return royalties on gold properties located in the
Notice to Investors
For further information regarding the properties underlying the Company's royalties, stream and other interests, please refer to the disclosures of the operators thereof, including the news releases referenced herein and the other disclosures of such operators. Disclosure relating to properties in which Gold Royalty holds interests is based on information publicly disclosed by the owners or operators of such properties. The Company generally has limited or no access to the properties underlying its interests and is largely dependent on the disclosure of the operators of its interests and other publicly available information. The Company generally has limited or no ability to verify such information. Although the Company does not have any knowledge that such information may not be accurate, there can be no assurance that such third-party information is complete or accurate.
Forward-Looking Statements:
Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and
Non-IFRS Measures
We have included, in this document, certain performance measures, including: (i) Total Revenue, Land Agreement Proceeds and Interest; and (ii) GEOs, which are each non-IFRS measures. The presentation of such non-IFRS measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These non-IFRS measures do not have any standardized meaning prescribed by IFRS, and other companies may calculate these measures differently.
Total Revenue, Land Agreement Proceeds and Interest
Total Revenue, Land Agreement Proceeds and Interest are determined by adding land agreement proceeds credited against other mineral interests and interests earned on gold-linked loan to total revenue. We have included this information as management believes certain investors use this information to evaluate our performance in comparison to other gold royalty companies in the precious metal mining industry.
The following is a reconciliation of Total Revenue, Land Agreement Proceeds and Interest to total revenue for the three months ended March 31, 2025 and 2026:
For the three months ended | ||||
2026 | 2025 | |||
(in thousands of dollars) | ($) | ($) | ||
Royalty | 7,033 | 1,116 | ||
Streaming | 973 | 484 | ||
Advance minimum royalty and pre-production royalty | 346 | 1,078 | ||
Land agreement proceeds | 508 | 573 | ||
Interest income credited against gold-linked loan | 502 | 326 | ||
Total Revenue, Land Agreement Proceeds and Interest | 9,362 | 3,577 | ||
Land agreement proceeds credited against other mineral interests | (20) | (113) | ||
Interest income credited against gold-linked loan | (502) | (326) | ||
One-time working capital adjustment related to the purchase of Pedra Branca Royalty | (1,000) | — | ||
Equity accounted revenue from Borborema(1) | (662) | — | ||
Revenue | 7,178 | 3,138 | ||
Note: |
(1) Represents our share of revenue in Borborema Royalty Limited Partnership, an entity that holds a NSR on the Borborema mine and is jointly controlled by the Company and Taurus. |
GEOs
GEOs are determined by dividing Total Revenue, Land Agreement Proceeds and Interest by the average gold prices for the applicable period:
(in thousands of dollars, except Average Gold Price/oz | Average | Total | GEOs | |||
For the three months ended March 31, 2025 | 2,865 | 3,577 | 1,249 | |||
For the three months ended March 31, 2026 | 4,875 | 9,362 | 1,920 |
View original content:https://www.prnewswire.com/news-releases/gold-royalty-announces-record-first-quarter-2026-preliminary-results-302753589.html
SOURCE Gold Royalty Corp.