Royal Gold posted second-quarter 2026 results showing revenue of $451 million, record operating cash flow of $335 million, and net income of $236 million, gains of 115%, 119%, and 79% respectively over the same period last year. Management repurchased 147,000 shares for $30 million during the quarter, arguing the market has not caught up to the portfolio's worth, while also paying $40 million in dividends at an annualized rate of $1.90 per share, 6% higher than a year earlier. The company repaid $200 million on its revolver during the quarter, followed by another $75 million in July, with a further $100 million planned for mid-August and expects the balance fully repaid in the fourth quarter. Depreciation, depletion, and amortization expense jumped to $96 million from $31 million a year earlier, driven largely by higher carrying values from the Kansanshi stream and the Sandstorm and Horizon assets acquired in 2025, while general and administrative expense rose to $13.4 million and interest expense climbed to $10 million from $1.5 million. Royal Gold also recognized $22 million of incremental revenue from an advanced delivery of 5,000 ounces tied to the Relief Canyon settlement, pulling forward 1,175 ounces originally scheduled through 2027.
Royal Gold IncProfits doubled, record cash flow, buyback, and debt repayment signal strong financial performance.
