RGLD on Nasdaq

Royal Gold

Logo: Grmike, Public domain, via Wikimedia Commons4

American mining company

Royal Gold is a precious metal streaming management company. The company, headquartered in Denver, Colorado, was founded in 1981 by H. Stanley Dempsey.3 From Wikipedia, CC BY-SA 4.0

Price unavailable

Last updated Oct 18, 2026.

Overview

1991Founded1

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  • TickerRGLD on Nasdaq1
  • Industrymining1
  • HeadquartersDenver1
  • Websitewww.royalgold.com
  • Legal formDelaware corporation1
  • Listed onToronto Stock Exchange, Nasdaq (RGLD)1
  • Incorporated inDE5
  • Business address1144 15Th Street, Suite 2500, Denver, Co 802025
  • Filer categoryLarge accelerated filer5

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Royal Gold is a precious metal streaming management company. The company, headquartered in Denver, Colorado, was founded in 1981 by H. Stanley Dempsey.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

69.3%Gross margin7
61.9%Operating margin7
45.2%Net margin7
43.2%Revenue growth, 20257
6.5%Return on equity7
0.13×Debt to equity7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Stream Interest brought in 67% of the revenue Royal Gold broke down this way in fiscal 2025.

  1. Stream Interest$686.5M767%up 42% from 2024
  2. Royalty Interest$344.0M733%up 46% from 2024
Business segments by year
Business segments202320242025
Stream Interest$418.3M$483.3M$686.5M
Royalty Interest$187.4M$236.1M$344.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs45¢$461.9M
  • Income tax10¢$102.3M
  • Profit45¢$466.3M

Out of $1.0B in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid17¢$118.5M
  • Kept or used elsewhere83¢$586.3M

Out of $704.8M of cash from operations.7

Financial statements

Revenue89107$1.0B in 2025+144% since 2019
0$500.0M$1.0B$1.5B2019: $423.1M$423.1M20192020: $498.8M$498.8M2020+18%2021: $653.6M$653.6M2021+31%2022: $603.2M$603.2M2022−8%2023: $605.7M$605.7M2023+0%2024: $719.4M$719.4M2024+19%2025: $1.0B$1.0B2025+43%
Gross profit8911107$714.3M in 2025+300% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $178.6M$178.6M20192020: $236.1M$236.1M2020+32%2021: $333.0M$333.0M2021+41%2022: $323.1M$323.1M2022−3%2023: $343.4M$343.4M2023+6%2024: $471.2M$471.2M2024+37%2025: $714.3M$714.3M2025+52%
Operating income89107$638.2M in 2025+354% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $140.7M$140.7M20192020: $198.9M$198.9M2020+41%2021: $328.4M$328.4M2021+65%2022: $283.7M$283.7M2022−14%2023: $303.2M$303.2M2023+7%2024: $429.9M$429.9M2024+42%2025: $638.2M$638.2M2025+48%
Net income89107$466.3M in 2025+397% since 2019
0$200.0M$400.0M$600.0M2019: $93.8M$93.8M20192020: $199.3M$199.3M2020+112%2021: $274.0M$274.0M2021+37%2022: $239.0M$239.0M2022−13%2023: $239.4M$239.4M2023+0%2024: $332.0M$332.0M2024+39%2025: $466.3M$466.3M2025+40%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Revenue (Note 11)$1.0B$719.4M$605.7M
Cost of sales (excludes depreciation, depletion and amortization)$130.9M$97.5M$90.5M
General and administrative$49.2M$40.9M$39.8M
Production taxes$8.6M$6.6M$7.3M
Depreciation, depletion and amortization$177.1M$144.4M$164.9M
Acquisition related costs$26.5M$0$0
Total costs and expenses$392.3M$289.5M$302.5M
Operating income$638.2M$429.9M$303.2M
Fair value changes in equity securities$327.0K-$66.0K-$147.0K
Loss on sale of marketable securities-$50.0M$0$0
Interest and other income$14.4M$6.0M$10.0M
Interest and other expense-$29.0M-$9.7M-$30.9M
Income before income taxes$573.9M$426.1M$282.1M
Income tax expense (Note 14)-$102.3M-$93.6M-$42.0M
Net income$471.6M$332.5M$240.1M
Net income attributable to non-controlling interests-$5.3M-$456.0K-$692.0K
Net income attributable to Royal Gold common stockholders$466.3M$332.0M$239.4M
Unrealized change in market value of available-for-sale debt securities$993.0K$0$0
Comprehensive income$472.6M$332.5M$240.1M
Comprehensive income attributable to non-controlling interests-$5.3M-$456.0K-$692.0K
Comprehensive income attributable to Royal Gold stockholders$467.3M$332.0M$239.4M
Basic earnings per share (in dollars per share)$6.70$5.04$3.64
Basic weighted average shares outstanding (in shares)69.4M shares65.7M shares65.6M shares
Diluted earnings per share (in dollars per share)$6.69$5.04$3.63
Diluted weighted average shares outstanding (in shares)69.6M shares65.8M shares65.7M shares
Cash dividends declared per common share (in dollars per share)$1.82$1.65$1.52

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The story

In the 1980s, the company was named Royal Resources, Inc., and was an oil-exploration company. In 1986, H. Stanley Dempsey, a board member of the public company, transformed the company into a gold mining company and renamed the company Royal Gold, Inc. Dempsey served as Royal Gold's chief executive officer through 2006, as its executive chairman through 2008, and its non-executive chairman through 2014. Dempsey was inducted into the National Mining Hall of Fame in 2016.

2010 was the year the company experienced the most growth with over a billion of the $1.86 billion in assets it has (September 2010) added during the year.

February 2010 completed the acquisition of another royalty company, IRC which has claims in Chile (Pascua Lama) and Canada (Voisey's Bay). International Royalty Company was quick to accept the $702 million deal from Royal Gold after Franco-Nevada attempted a hostile $640 million takeover.

By the end of the 2020 fiscal year, the company owns interests on 41 producing mines (June 30, 2020).

Acquisitions

In 2007, the company purchased an interest in the Penasquito mine which did not begin producing until 2010.

In July 2022, Royal Gold acquired Great Bear Royalties for $153 million.

From Wikipedia’s article on Royal Gold, shared under CC BY-SA 4.0.6

Leadership

Who has led Royal Gold, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Stanley Dempsey2003–2006
  2. Tony A. Jensen2006–2019
  3. William Holmes Heissenbuttel2020–now

Chair

  1. Stanley Dempsey2003–2009

President

  1. Tony A. Jensen2003–2019
  2. William Holmes Heissenbuttel2020–now

Chief financial officer

  1. John Skadow2003
  2. Stefan Wenger2006–2018
  3. William Holmes Heissenbuttel2018–2019
  4. Paul Libner2020–now

Chief operating officer

  1. Tony A. Jensen2004–2006
  2. Mark Isto2020–2023
1995200020052010201520202025
Board members and other officers (38)

Products and brands

  • gold

Listed on Wikidata.1

Former names

  • ROYAL GOLD INC /DE/Nov 14, 1995 to Mar 5, 20035

Timeline

  1. Jan 6, 2020New chief executive William Holmes Heissenbuttel becomes CEO15
  2. Nov 9, 2006New chief executive Tony A. Jensen becomes CEO16
  3. Aug 15, 2003New chief executive Stanley Dempsey becomes CEO17
  4. 1991Founded Founded1
  5. Mar 26, 1990Went public Listed on NASDAQ1

Filings

369 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 74 major events, 168 insider forms, 25 large holders, 80 other. The latest 20:

  1. Oct 6, 20264 EDGAR
  2. Sep 15, 20264 EDGAR
  3. Sep 11, 20264 EDGAR
  4. Sep 8, 20264 EDGAR
  5. Sep 3, 2026144 EDGAR
  6. Aug 28, 2026144 EDGAR
  7. Aug 28, 20264 EDGAR
  8. Aug 6, 202610-Q EDGAR
  9. Aug 5, 20268-K EDGAR
  10. Jul 21, 20268-K EDGAR
  11. Jun 16, 2026144 EDGAR
  12. Jun 16, 20264 EDGAR
  13. May 26, 20268-K EDGAR
  14. May 11, 2026144 EDGAR
  15. May 11, 20264 EDGAR
  16. May 7, 202610-Q EDGAR
  17. May 6, 20268-K EDGAR
  18. Apr 30, 2026SCHEDULE 13G EDGAR
  19. Apr 3, 2026ARS EDGAR
  20. Apr 3, 2026DEFA14A EDGAR

The 369 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

42 open-market trades by officers, directors and large owners since October 2021: 0 buys and 42 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Oct 5, 2026Heissenbuttel William HolmesPresident & CEOSale2,425$234.07$567.6KForm 4
Sep 3, 2026Heissenbuttel William HolmesPresident & CEOSale7,275$263.38$1.9MForm 4
Aug 28, 2026Shefman RandySVP & General CounselSale500$262.80$131.4KForm 4
Jun 16, 2026Shefman RandySVP & General CounselSale500$215.85$107.9KForm 4
May 11, 2026Shefman RandySVP & General CounselSale1,000$243.74$243.7KForm 4
Mar 12, 2026Isto MarkDirectorSale2,000$274.83$549.7KForm 4
Mar 4, 2026Libner PaulSVP & CFOSale3,200$283.47$907.1KForm 4
Mar 2, 2026Breeze DanielSVP Corp Dev of RGLD Gold AGSale1,400$300.87$421.2KForm 4
Feb 20, 2026Hayes William M.DirectorSale4,173$277.07$1.2MForm 4
Dec 17, 2025Vance Ronald JDirectorSale300$218.53$65.6KForm 4
Dec 11, 2025Vance Ronald JDirectorSale500$218.29$109.1KForm 4
Dec 4, 2025Breeze DanielSVP Corp Dev of RGLD Gold AGSale970$202.23$196.2KForm 4
Jun 10, 2025Libner PaulSVP & CFOSale2,000$176.96$353.9KForm 4
Mar 17, 2025Shefman RandySVP & General CounselSale1,300$154.98$201.5KForm 4
Mar 11, 2025Breeze DanielSVP Corp Dev of RGLD Gold AGSale705$154.00$108.6KForm 4
Jan 15, 2025Heissenbuttel William HolmesPresident & CEOSale1,500$136.45$204.7KForm 4
Dec 16, 2024Heissenbuttel William HolmesPresident & CEOSale1,500$146.08$219.1KForm 4
Dec 11, 2024Libner PaulSVP & CFOSale1,756$153.00$268.7KForm 4
Dec 10, 2024Breeze DanielSVP Corp Dev of RGLD Gold AGSale201$150.06$30.2KForm 4
Dec 9, 2024Breeze DanielSVP Corp Dev of RGLD Gold AGSale549$150.00$82.3KForm 4

All 42 trades can be filtered by person here when JavaScript is on.

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 25 such filings since October 2021, the latest 10:

  1. Apr 30, 2026SCHEDULE 13G
  2. Mar 27, 2026SCHEDULE 13G/A
  3. Feb 13, 2026SCHEDULE 13G/A
  4. Feb 9, 2026SCHEDULE 13G
  5. Nov 12, 2025SCHEDULE 13G/A
  6. Nov 12, 2025SCHEDULE 13G/A
  7. Nov 10, 2025SCHEDULE 13G
  8. Aug 13, 2025SCHEDULE 13G/A
  9. Aug 11, 2025SCHEDULE 13G
  10. Feb 13, 2024SC 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.10,910,603$2.2B0.0%+437,945
Capital World Investors9,322,778$1.9B0.2%−1,193,409
Vanguard Portfolio Management LLC4,125,608$823.5M0.0%+15,319
State Street Corp3,904,305$779.3M0.0%+304,107
Vanguard Capital Management LLC3,797,392$758.0M0.0%+34,074
Van Eck Associates Corp2,929,665$584.8M0.4%−274,201
Invesco Ltd.2,069,954$413.2M0.0%−176,785
Geode Capital Management, LLC1,740,552$347.5M0.0%+13,486
First Eagle Investment Management, LLC1,723,572$344.0M0.3%+805,956
Capital Research Global Investors1,452,223$289.9M0.0%+596,126
Norges Bank1,409,598$281.4M0.0%New
UBS Group AG1,218,178$243.2M0.0%+788,282
Aqr Capital Management LLC1,043,961$207.6M0.1%+236,546
Northern Trust Corp893,436$178.3M0.0%+16,205
Dimensional Fund Advisors LP836,651$167.0M0.0%−111,606
Morgan Stanley827,940$165.3M0.0%−102,541
Fmr LLC794,731$158.6M0.0%−63,933
Bank of New York Mellon Corp755,281$150.8M0.0%−53,230
Nuveen, LLC736,785$147.1M0.0%+258,573
Qube Research & Technologies Ltd705,269$140.8M0.2%+114,692
BNP PARIBAS ASSET MANAGEMENT Holding S.A.593,507$118.5M0.1%+74,027
Charles Schwab Investment Management Inc574,303$114.6M0.0%+96
Ninety One UK Ltd563,738$112.5M0.3%+82,118
Capital International Investors563,355$112.5M0.0%−416,728
Findlay Park Partners LLP558,050$111.4M1.5%−18,880

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

11 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Aug 4, 2025Lisa C. McClainRepublican, HouseSale$1,001 - $15,000−26.7%Report
Jul 22, 2025Lisa C. McClainRepublican, HouseBuy$1,001 - $15,000+24.7%Report
Jun 10, 2025Lisa C. McClainRepublican, HousePartial sale$1,001 - $15,000−6.2%Report
Jun 9, 2025Lisa C. McClainRepublican, HouseBuy$1,001 - $15,000+3.1%Report
May 12, 2025Jefferson ShreveRepublican, HouseSale$50,001 - $100,000−4.0%Report
Apr 7, 2025Jefferson ShreveRepublican, HouseBuy$15,001 - $50,000−4.6%Report
Feb 24, 2025Jefferson ShreveRepublican, HouseBuy$15,001 - $50,000+25.0%Report
Sep 8, 2023Lois FrankelDemocratic, HouseSale$1,001 - $15,000−40.7%Report
Jul 2, 2021Lois FrankelDemocratic, HouseBuy$1,001 - $15,000+21.3%Report
Jul 1, 2021Lois FrankelDemocratic, HouseBuy$1,001 - $15,000+24.1%Report
Jun 30, 2021Lois FrankelDemocratic, HouseBuy$1,001 - $15,000+23.9%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

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