Business Wire·May 6, 2026, 4:05 PM ET

Royal Gold Reports a Strong Start to 2026 with Record Revenue, Operating Cash Flow and Earnings for the First Quarter, and Adds Capital Allocation Tools to Provide Future Flexibility

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Royal Gold reported record first quarter 2026 revenue of $469.1 million, a 142.5% increase from $193.4 million in the prior year period.
The company achieved record operating cash flow of $293.6 million, record net income of $281.1 million ($3.30 per share), and record adjusted net income of $232.9 million ($2.72 per share).
Revenue composition for the quarter was 71% gold, 16% silver, and 10% copper, driven by significantly higher realized metal prices.
Sales volume reached 96,300 gold equivalent ounces (GEOs), representing a 42.5% increase compared to 67,600 GEOs in the prior year.
The company repaid $300 million on its revolving credit facility during the quarter, increasing total available liquidity to approximately $1.1 billion.
A quarterly dividend of $0.475 per share was declared, reflecting a 6% increase over the prior year period.
Royal Gold completed a restructuring of its interests in Bear Creek Mining, resulting in increased royalty interests at Corani and Mercedes, plus the sale of Highlander Silver shares for a $9.9 million gain.
Subsequent to the quarter, the company paid a $50 million advance to Solaris Resources for the Warintza Project following environmental impact assessment approval.
The company added a $600 million uncommitted accordion feature to its $1.4 billion revolving credit facility, allowing total commitments to reach up to $2.0 billion.
The Board of Directors authorized a $500 million share repurchase program to be used opportunistically based on market conditions.
Total liquidity at the end of the quarter was approximately $1.1 billion, consisting of $295.2 million in working capital and $800 million available under the credit facility.
Out of the $600 million drawn on the credit facility as of March 31, 2026, an additional $75 million was repaid in April, leaving $525 million outstanding with $875 million available.
The company forecasts that 2026 performance against its guidance ranges for metal sales volumes, DD&A expense, and effective tax rate will remain within the provided limits.
Notable property developments include updated production guidance for Mount Milligan, Pueblo Viejo, Rainy River, Peñasquito, Greenstone, Red Chris, and Voisey's Bay.
In South and Central America, notable updates were provided for Andacollo, Antamina, Xavantina, Chapada, and Fruta del Norte.
In EMEA, activity updates were reported for Kansanshi, Khoemac a u, Wassa, Houndé, and the Platreef development project.
In the Australia Pacific region, Bellevue reported significant production increases and on-track performance against 2026 guidance.