Royal Gold Inc Stock Price, News & Analysis

Royal Gold (NASDAQ: RGLD) announced its 25th consecutive annual increase in the common stock dividend, raising the 2026 dividend by approximately 6% from $1.80 to $1.90 per share. The dividend will be paid quarterly at $0.475 per share.

The first quarterly payment at the new rate is payable on January 16, 2026 to shareholders of record at the close of business on January 2, 2026. Management said the increase reflects 2025 business growth and a balance between raising the dividend, pursuing new investments and allocating capital to debt repayment. Royal Gold noted it is the only precious metals company in the S&P High Yield Dividend Aristocrats Index.

Royal Gold (NASDAQ: RGLD) announced that its subsidiary International Royalty Corporation will sell 23,654,545 Versamet shares in two equal blocks—11,827,273 shares to Tether Investments and 11,827,272 shares to Nemesia—at C$8.75 per share for aggregate proceeds of C$206,977,268.75 on November 17, 2025. Royal Gold said the shares were received following the October 20, 2025 amalgamation with Sandstorm and were identified as non-core.

The company intends to apply the proceeds to debt repayment tied to its recent Sandstorm and Kansanshi acquisitions. Immediately prior to closing, IRC held about 25% of Versamet on an undiluted basis; after the sales Royal Gold will hold no Versamet shares.

Royal Gold (NASDAQ: RGLD) reported Q3 2025 net income $126.8M ($1.92/sh) on record revenue $252.1M and record operating cash flow $174.0M. Adjusted net income was a record $136.2M ($2.06/sh). Revenue mix was 78% gold, 12% silver, 7% copper with 72,900 GEOs sold. The company drew $825M on its revolving credit facility and repaid $50M, paid a quarterly dividend of $0.45 (up 12.5%), acquired a gold stream on Kansanshi and closed acquisitions of Sandstorm Gold and Horizon Copper. Post-quarter receipts include 11,111 oz of deferred gold from Mount Milligan.

Royal Gold (NASDAQ: RGLD) completed acquisitions of Sandstorm and Horizon on October 20, 2025, adding precious‑metal stream and royalty interests to its portfolio.

The company issued approximately 18.6 million shares, raising outstanding common shares to ~84.4 million. Royal Gold drew $450 million on its revolving credit facility to repay assumed Sandstorm debt and fund Horizon cash consideration, leaving $1.225 billion drawn and $175 million undrawn as of the closing. Management estimates repayment of borrowings could occur within two years assuming current metal prices and no further deal activity. Sandstorm and Horizon shares ceased trading and Royal Gold is applying to terminate their public reporting status.

Royal Gold (NASDAQ: RGLD) reported streaming segment volumes and pricing for Q3 2025: ~48,000 gold equivalent ounces (GEOs) sold, comprising ~38,600 oz gold, 594,500 oz silver and 1,200 tonnes copper for the three-month period ended September 30, 2025. Inventory at quarter end was ~19,000 oz gold and 379,200 oz silver. Average realized prices were $3,415/oz gold, $37.90/oz silver and $9,660/tonne copper ($4.38/lb). Cost of sales for streaming agreements was ~$653 per GEO. Q3 2025 results will be released after market close on November 5, 2025 with a conference call on November 6, 2025 at 12:00 PM ET.

Royal Gold (NASDAQ: RGLD) reported preliminary stockholder votes approving its planned acquisitions of Sandstorm Gold and Horizon Copper. At Royal Gold's special meeting, 52,872,808 shares (≈80.3% of outstanding) were represented and 99.1% of votes cast approved the Sandstorm share issuance. Sandstorm and Horizon securityholders voted 98.7% and 99.4% in favor, respectively. Closing remains subject to customary conditions, including Supreme Court of British Columbia approval to be sought on October 15, 2025, satisfaction or waiver of certain Horizon conditions, and Nasdaq listing of shares. If conditions are met, both transactions are anticipated to close on October 20, 2025.

Royal Gold (NASDAQ:RGLD) has received all required governmental regulatory approvals for its planned acquisitions of Sandstorm Gold Ltd. and Horizon Copper Corp. The approvals include clearances under the Investment Canada Act, Canadian Competition Act, and South African Competition Act.

Both transactions are scheduled for stockholder votes on October 9, 2025, with leading proxy advisory firms recommending approval. Subject to remaining conditions, including stockholder approvals and British Columbia Supreme Court approval, both acquisitions are expected to close in early Q4 2025.

Royal Gold (NASDAQ: RGLD) announced significant findings from Centerra Gold's pre-feasibility study (PFS) for the Mount Milligan mine in British Columbia. The study confirms a 10-year life of mine extension to 2045, with potential for further extensions.

Key highlights include a planned 10% increase in process plant throughput to 66,300 tonnes per day by 2029, and expected average annual production of 150,000 ounces of gold and 69 million pounds of copper from 2026 to 2042. The PFS revealed substantial reserve increases of 56% in gold (to 4.4 million ounces) and 52% in copper (to 1.7 billion pounds) compared to 2024 levels.

The project's permitting process is underway, with key permit amendment decisions expected in first half of 2026 and second tailings storage facility construction planned for 2032.

Royal Gold (NASDAQ: RGLD) has filed a definitive proxy statement with the SEC regarding its planned acquisition of Sandstorm Gold Ltd. The special stockholder meeting is scheduled for October 9, 2025, where shareholders of record as of August 29, 2025, will vote on the issuance of Royal Gold common stock for the transaction.

The transaction involves two key components: the Sandstorm Transaction, which will make Sandstorm a wholly-owned subsidiary of Royal Gold, and the Horizon Transaction, involving Royal Gold's proposed acquisition of Horizon Copper Corp. The closing is expected in Q4 2025, subject to stockholder approvals, regulatory clearances, and other customary conditions. Notably, competition law approvals from Canada and South Africa have been received, while the Investment Canada Act review is ongoing.