ROYAL GOLD INC SEC Filings

Royal Gold Inc. director William M. Hayes reported an open-market sale of common stock. On February 20, 2026, he sold 4,173 shares of Royal Gold common stock at an average price of $277.07 per share. After this transaction, he directly owned 6,129 common shares.

RGLD filed a Form 144 notice indicating an intended sale of common stock through J.P. Morgan Securities LLC. The submission lists multiple grant/acquisition dates for the securities, including 02/03/2024, 01/03/2024, and earlier dates back to 12/22/2010

The filing is a regulatory notice of proposed sales under Rule 144 and does not itself report completed transactions or proceeds.

Royal Gold, Inc. reports a strong year, with record revenue of $1.0 billion for the year ended December 31, 2025, up from $719.4 million, a 43% increase. Net operating cash flow reached a record $704.8 million, compared with $529.5 million, a 33% gain, showing higher cash generation from its streaming and royalty portfolio.

The company’s business is split between metal streams, which contributed 67% of 2025 revenue, and royalty interests, which contributed 33%. It remains highly leveraged to precious metals, deriving about 90% of revenue from gold and silver and 7% from copper. Management highlights that lower metal prices or operational issues at partner mines could reduce future revenue.

Royal Gold expanded its scale and funding capacity through several major transactions. It acquired all common shares of Sandstorm Gold Ltd. and Horizon Copper Corp. for total consideration of $4.148 billion, made a $1.0 billion advance payment for a gold stream on the Kansanshi mine in Zambia, and invested $200.0 million in a gold stream and royalty on the Warintza project in Ecuador. It also extended its revolving credit facility to June 30, 2030, expanded the accordion feature, and increased total capacity to $1.4 billion.

The company raised its calendar-year dividend to $1.90 per basic share, a 6% increase over 2025, reflecting confidence in cash flow from its enlarged portfolio. At the same time, management outlines extensive risk factors, including dependence on a small number of key assets, exposure to volatile metal prices, reliance on third-party mine operators, geopolitical and regulatory risks in multiple jurisdictions, cybersecurity threats, and the challenges of integrating large acquisitions such as Sandstorm and Horizon.

Royal Gold reported record fourth-quarter and full-year 2025 results driven by higher metal prices and major portfolio expansions. Full-year revenue rose to $1,030.5 million from $719.4 million, with net income attributable to stockholders up to $466.3 million, or $6.70 per basic share. Operating cash flow reached $704.8 million as gold, silver and copper prices and Pueblo Viejo, Andacollo and Peñasquito volumes all increased.

Fourth-quarter revenue grew to $375.3 million from $202.6 million, with record operating cash flow of $241.7 million and adjusted net income of $154.986 million, or $1.92 per diluted share. Adjusted EBITDA margin stayed high at 82% for both the quarter and year.

The company completed a transformational year of growth by acquiring Sandstorm Gold and Horizon Copper, adding the Kansanshi gold stream and other new interests, and lifting annual revenue above $1 billion. The revolving credit facility was expanded to $1.4 billion; year-end debt was $895.4 million, with net debt/TTM adjusted EBITDA at 0.79x. Royal Gold also paid a $1.80 per share dividend in 2025 and increased the 2026 dividend to $1.90 per share, marking 25 consecutive annual increases.

Capital World Investors filed an amended Schedule 13G reporting beneficial ownership of 9,788,500 shares of Royal Gold, Inc. common stock, representing 11.6% of the class. The firm has sole voting power over 9,749,333 shares and sole dispositive power over 9,788,500 shares, based on 84,398,063 shares believed outstanding.

The shares are reported as acquired and held in the ordinary course of business and not for the purpose of changing or influencing control of Royal Gold.

State Street Corporation filed a Schedule 13G reporting its beneficial ownership of Royal Gold Inc. common stock. State Street reports beneficial ownership of 3,718,646 shares, representing 4.4% of Royal Gold’s common stock as of the event date. It has shared voting power over 3,453,778 shares and shared dispositive power over 3,718,646 shares, with no sole voting or dispositive power. State Street certifies the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Royal Gold.

Royal Gold, Inc. director Mark Isto reported a change in his holdings of the company’s common stock. On 02/03/2026, he executed a code G transaction involving 580 shares at a reported price of $0 per share, classified as a disposition. Following this transaction, Isto directly beneficially owns 22,043 shares of Royal Gold common stock.

Royal Gold, Inc. furnished an update on its recent operating and financial position. The company issued a press release covering stream sales for the quarter ended December 31, 2025, along with information on its balance sheet and efforts to rationalize non-core assets.

The press release is provided as Exhibit 99.1 and is treated as furnished, not filed, under securities laws, meaning it is not automatically incorporated into other securities filings unless specifically referenced.

Royal Gold Inc. insider transaction: The company’s Senior Vice President and Chief Financial Officer reported a Form 4 transaction involving Royal Gold common stock. On 12/17/2025, the officer disposed of 463 shares in a transaction coded "G," which indicates a gift, at a reported price of $0 per share. Following this transaction, the officer directly beneficially owns 18,832 shares of Royal Gold common stock.