RGLD News & Events

Reports Q1 revenue $469.1M, consensus $476.35M. "The record first quarter results reflect the transformative activities we undertook in 2025," commented Bill Heissenbuttel, CEO of Royal Gold. "We added significant scale and growth potential to our portfolio and the contributions from the new interests combined with our legacy portfolio and strong metal prices drove substantial increases in revenue, cash flow and earnings. We have a long record of successful capital allocation and growing per share value, and we have added two new tools that provide flexibility to add further value in the future depending on market conditions."

On May 4, the board approved a $500M share repurchase program under which it may purchase shares from time to time through open market purchases or by other means. The manner, timing, pricing and amount of any repurchases will be subject to management's discretion and may be based upon market conditions and alternative opportunities for the use or investment of capital. Although the board has authorized the share repurchase program, the company is not obligated to repurchase any specific dollar amount or to acquire any specific number of shares under the program. This program is intended to be used in those circumstances when we believe there is a significant difference between the market value of Royal Gold shares and what management believes is the intrinsic value and outlook for the company.

The company said, "To provide transparency with respect to our longer-term revenue potential, we are issuing our inaugural 5 Year Outlook for total GEOs, which range from 430,000 to 480,000. This range is based on the mid-points of available operator guidance, production estimates provided by operators at steady-state, and Royal Gold estimates, and the range is not risk-adjusted for production levels or startup timing on an asset-by-asset basis. We will not update this range through 2026 and expect to provide a new 5 Year Outlook in early 2027. This outlook reflects our expectations for increased production due to expansions at Khoemacau and Platreef Phase 2; extension of Bald Mountain Redbird; new production from assets including Corani, Great Bear, Hod Maden, La India, Robertson and Warintza; and expected stream rate step downs at Wassa and the Rainy River silver stream. We have not assumed any contribution from the 30% joint venture interest in the Hod Maden project in this outlook given our stated objective of converting our direct joint venture ownership into a stream or royalty interest more typical of our business model. This outlook does not include contributions from assets that are expected to begin production beyond this 5 year period, including Cactus (mining on our royalty area), Fourmile, Gualcamayo, Horne 5, MARA and Oyu Tolgoi, and increased production from the Platreef Phase 3 expansion."