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Royal Gold’s Gold Powerhouse — 100,000 Equivalent Ounces Drive A Bigger Portfolio!

Royal Gold, Inc. reported a strong second quarter for 2026, marking its second full quarter of results following significant business growth in 2025. The company posted revenue of $451 million, representing a 115% increase year-over-year, with operating cash flow rising 119% to a record $335 million. Net income stood at $236 million, up 79% from the prior year, while adjusted net income was $218 million, a 41% increase. Adjusted EBITDA margin remained robust at 83%, reflecting disciplined cost management with general and administrative expenses increasing moderately to $13.4 million. The company’s diversified portfolio, emphasizing gold which contributed 76% of revenues, saw revenue contributions from a broad range of properties, reducing asset concentration risk notably compared to prior years. In terms of capital allocation, Royal Gold paid $40 million in dividends at an increased rate of $1.