Royal Gold repays $250M debt, buys back $49M in shares
Royal Gold said third-quarter results will be released after market close on November 4, 2026, followed by a November 5 conference call.
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Form Type
8-K
Rhea-AI Filing Summary
Royal Gold, Inc. reported preliminary estimates for the quarter ended September 30, 2026: royalty segment sales of $143 million to $149 million and depreciation, depletion and amortization (DD&A) of $80 million to $84 million. The estimates are unaudited and may be revised; final royalty receipts were not yet available. Stream activity included 74,700 GEOs at a cost of sales of $834 per GEO. GEOs use the quarter’s average London PM gold fixing price of $4,262 per ounce.
Metal units sold included 57,600 ounces of gold and 772,300 ounces of silver, plus 3.8 million pounds of copper and 1.3 million pounds of zinc; ending-period inventories included 23,300 ounces of gold and 424,200 ounces of silver. Royal Gold repaid $250 million of debt, leaving $150 million outstanding on its revolving credit facility as of September 30, 2026, with $1.25 billion undrawn and available. It repurchased and cancelled 190,045 shares at an average price of $259.83 per share, for total consideration of $49 million.
Filing Explained
Royal Gold says it will release its full third-quarter results after market close on
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Royalty Segment Sales: $143 million to $149 million
DD&A: $80 million to $84 million
GEOs: 74,700 GEOs
+5 more
8 metrics
Royalty Segment Sales
$143 million to $149 million
Preliminary estimate for the quarter ended September 30, 2026
DD&A
$80 million to $84 million
Preliminary estimate for the quarter ended September 30, 2026
GEOs
74,700 GEOs
Third quarter 2026
Cost of Sales
$834 per GEO
Third quarter 2026
Debt Repaid
$250 million
Third quarter 2026
Revolving Credit Facility Balance
$150 million
Outstanding as of September 30, 2026
Undrawn and Available
$1.25 billion
Revolving credit facility as of September 30, 2026
Shares Repurchased
190,045 shares; $259.83 average price per share; $49 million total consideration
Third quarter 2026; shares were cancelled
Key Terms
Gold Equivalent Ounces, DD&A, London PM gold fixing price, revolving credit facility
4 terms
Gold Equivalent Ounces financial
"Gold Equivalent Ounces"
Gold equivalent ounces express the combined output or reserves of a mine by converting other metals (like silver, copper or zinc) into the amount of gold they would be worth at current market prices, so everything is shown as a single “gold” number. For investors this provides a common yardstick to compare production, value and growth across projects that produce multiple metals—like converting several currencies into one familiar money unit.
DD&A financial
"depreciation, depletion and amortization ("DD&A")"
DD&A stands for depreciation, depletion and amortization, a combined non-cash accounting charge that spreads the cost of long-lived assets, mined or pumped natural resources, and intangible items over their useful lives. Investors watch DD&A because it lowers reported profits without affecting cash flow, so comparing it to cash generation and replacement spending helps assess whether a business is reinvesting enough or steadily running down its asset base—like tracking how quickly a car’s value, fuel and warranty are being used up to predict future repair and replacement needs.
London PM gold fixing price financial
"average London PM gold fixing price"
revolving credit facility financial
"outstanding balance on the revolving credit facility"
A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.
Earnings Snapshot
Royalty Segment Sales: $143 million to $149 million
Quarter ended September 30, 2026
Royalty Segment Sales
$143 million to $149 million
DD&A
$80 million to $84 million
GEOs
74,700 GEOs
Cost of Sales
$834 per GEO
Debt Repaid
$250 million
Revolving Credit Facility Balance
$150 million outstanding
Undrawn and Available
$1.25 billion
Shares Repurchased
190,045 shares
Average Repurchase Price
$259.83 per share
Repurchase Consideration
$49 million
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were RGLD's preliminary third-quarter sales and DD&A estimates?
Royal Gold estimated third-quarter royalty segment sales at $143 million to $149 million and depreciation, depletion and amortization at $80 million to $84 million. The estimates are preliminary, unaudited and subject to revision; final royalty receipts were not yet available.
How much debt did RGLD repay, and what remained on its credit facility?
Royal Gold repaid $250 million of debt. Its revolving credit facility had a $150 million outstanding balance as of September 30, 2026, with $1.25 billion undrawn and available.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 20, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
Registrant’s telephone number, including area code: (303 ) 573-1660
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company | ||||||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition
On October 20, 2026, Royal Gold, Inc. issued a press release with certain preliminary financial information for the quarter ended September 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information furnished under this Item 2.02, including the exhibit, will not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, and will not be deemed incorporated by reference into any filing under the Securities Act of 1933, except as expressly set forth by reference to such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | Press Release dated October 20, 2026 | |||||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Royal Gold, Inc. | |||||||||||
| Date: October 20, 2026 | By: | /s/ David R. Crandall | |||||||||
| Name: | David R. Crandall | ||||||||||
| Title: | Vice President, Corporate Secretary and Chief Compliance Officer | ||||||||||
Exhibit 99.1
NEWS RELEASE | |||||
Royal Gold Provides Preliminary Financial Information and Details for the Release of Financial Results for the Third Quarter 2026
DENVER, COLORADO. October 20, 2026: ROYAL GOLD, INC. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold,” the “Company,” “we,” “us,” or “our”) announced preliminary financial information and details for the release of results for the quarter ended September 30, 2026 ("third quarter").
Preliminary Third Quarter Estimates
Royal Gold's stream sales and preliminary royalty sales and depreciation, depletion and amortization ("DD&A") estimates1 in the third quarter are as follows:
| Stream Segment Sales | $318.3M | |||||||
| GEOs2 | 74,700 | |||||||
| Cost of Sales | $834/GEO | |||||||
| Commodity breakdown: | Metal Units Sold | Ending Period Inventory | ||||||
| Gold | 57,600 oz | 23,300 oz | ||||||
| Silver | 772,300 oz | 424,200 oz | ||||||
| Copper | 3.8 Mlb | — | ||||||
| Zinc | 1.3 Mlb | — | ||||||
| Royalty Segment Sales3 | $143-149 M | |||||||
DD&A3 | $80-84 M | |||||||
Notable Third Quarter Financial Items
Notable financial items for the third quarter include:
•The repayment of $250 million of debt, resulting in an outstanding balance on the revolving credit facility of $150 million on September 30, 2026, leaving $1.25 billion undrawn and available.
•The repurchase of 190,045 shares at an average price of $259.83 per share, for total consideration of $49 million. The repurchased shares were cancelled.
1 Estimates are preliminary and are subject to change. See "Cautionary Note Regarding Preliminary Financial Information."
2 Gold Equivalent Ounces ("GEOs") are calculated as Royal Gold’s revenue (in total or by reportable segment) divided by the average London PM gold fixing price for the quarter ended September 30, 2026, of $4,262 per ounce.
3 Royalty Segment Sales and DD&A are presented as estimated ranges as final receipts are not yet available.
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Details for Release of Third Quarter 2026 Financial Results
Royal Gold's results for the third quarter will be released after the market close on Wednesday, November 4, 2026, followed by a conference call on Thursday, November 5, 2026, at 12:00 p.m. Eastern Time (10:00 a.m. Mountain Time). The call will be webcast live and archived on the Company's website for a limited time.
Dial-In Numbers: +1 833-461-5787 (North America); toll free
+1 585-542-9983 (International)
+1 585-542-9983 (International)
Access Code: 999159628
Webcast URL: https://events.q4inc.com/attendee/999159628
Corporate Profile
Royal Gold is a high-margin, large-capitalization company that generates strong cash flows from a large and well-diversified portfolio of precious metal streams, royalties and similar production-based interests located in mining-friendly jurisdictions. Royal Gold shares trade under the symbol “RGLD” and provide growth, value, and income investors exposure to the metals & mining industry. The Company’s website is located at www.royalgold.com.
Additional Investor Information
Royal Gold routinely posts important information, including information about upcoming investor presentations and press releases, on its website under the Investor Resources tab. Investors and other interested parties are encouraged to enroll at www.royalgold.com to receive automatic email alerts for new postings.
For further information, please contact:
Alistair Baker
Senior Vice President, Investor Relations and Business Development
(303) 573-1660
Senior Vice President, Investor Relations and Business Development
(303) 573-1660
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from these statements. Forward-looking statements are often identified by words such as “will,” “may,” “could,” “should,” “would,” “believe,” “estimate,” “expect,” “anticipate,” “plan,” “forecast,” “potential,” “intend,” “continue,” “project,” or negatives of these words or similar expressions. Forward-looking statements include, among others, estimates for royalty segment sales and DD&A. Factors that could cause actual results to differ materially from these forward-looking statements include, among others, the completion of Royal Gold's normal quarter-end accounting procedures and adjustments (including normal year-to-date and quarter-end adjustments); the finalization of fair value and other estimates; further review by management; other developments that may arise between the date of this press release and the date on which final results are reported; and other factors described in our reports filed with the Securities and Exchange Commission, including Item 1A, Risk Factors of our most recent Annual Report. Most of these factors are beyond our ability to predict or control. Other unpredictable or unknown factors not discussed in this release or our reports filed with the Securities and Exchange Commission could also have material adverse effects on forward-looking statements. Forward-looking statements speak only as of the date on which they are made. We disclaim any obligation to update any forward-looking statements, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements.
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Cautionary Note Regarding Preliminary Financial Information
The preliminary financial information set forth in this press release, including preliminary estimates of royalty segment sales and DD&A, is preliminary and unaudited, reflects management’s current estimates based on information available to it as of the date of this press release, and is subject to revision. Actual results remain subject to the completion of management’s customary quarter-end review and closing procedures and may differ from the preliminary financial information. Any such differences could be material. The preliminary financial information has been prepared by, and is the responsibility of, Royal Gold's management. Royal Gold's independent registered public accounting firm has not audited, reviewed, compiled, or performed any procedures with respect to the preliminary financial information and, accordingly, does not express an opinion or any other form of assurance with respect thereto. The preliminary financial information does not present all information necessary for an understanding of Royal Gold's financial condition as of, or its results of operations for, the three and nine months ended September 30, 2026, and should not be viewed as a substitute for full financial statements prepared in accordance with U.S. GAAP. Royal Gold undertakes no obligation to update or revise the preliminary financial information, whether as a result of new information, future events, or otherwise, except as required by law. In addition, the financial items described in this press release under “Notable Third Quarter Financial Items” represent only select items that management considers notable and do not represent a complete summary or description of all material developments, transactions, or events that occurred during the third quarter. Management’s selection of the items described herein should not be construed to imply that other items not described are not material or notable.
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