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Royal Gold Provides 2026 Guidance and Five Year Outlook and Announces Further Debt Repayment and Publication of Asset Handbook
DENVER--(BUSINESS WIRE)-- Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold,” the “Company,” “we,” “us,” or “our”) announced today
About this update from Royal Gold, Inc.
[{"type":"text","content":" DENVER--(BUSINESS WIRE)--\nRoyal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold,” the “Company,” “we,” “us,” or “our”) announced today its calendar year 2026 guidance for total stream and royalty sales volume, depletion, depreciation and amortization expense (“DD&A”), and effective tax rate, a 5 year outlook for total sales, a further debt repayment, and publication of its 2025/2026 Asset Handbook.\n\n\n2026 Guidance\n\n\nRoyal Gold expects 2026 sales volume, DD&A and effective tax rate to be as follows:\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2026 Guidance Ranges\n\n\n\n\n\n\n\n\nTotal Sales\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nGold\n\n\n\n\n\n\n(oz)\n\n\n\n\n\n\n290,000–320,000\n\n\n\n\n\n\n\n\nSilver\n\n\n\n\n\n\n(M oz)\n\n\n\n\n\n\n3.0–3.5\n\n\n\n\n\n\n\n\nCopper\n\n\n\n\n\n\n(M lb)\n\n\n\n\n\n\n21.0–25.0\n\n\n\n\n\n\n\n\nOther Metals3\n\n\n\n\n\n\n(M)\n\n\n\n\n\n\n$34–$38\n\n\n\n\n\n\n\n\nDD&A\n\n\n\n\n\n\n(M)\n\n\n\n\n\n\n$339-379\n\n\n\n\n\n\n\n\nEffective Tax Rate\n\n\n\n\n\n\n \n\n\n\n\n\n\n17-22%\n\n\n\n\n\n\n\nSales volume\n\n\nSales guidance for 2026 is provided on a sales volume basis to provide transparency and avoid the effect of volatile commodity prices in the conversion of revenue to gold equivalent ounces1 (“GEOs”). Sales volume for stream interests represents physical metal sold, and sales volume for royalty interests represents royalty revenue received divided by the average metal price for the relevant period.\n\n\nGold, silver and copper are expected to provide the majority of 2026 revenue. We expect the midpoints of our 2026 sales volumes to be 32%, 8% and 40% higher for gold, silver and copper, respectively, than actual sales volumes in 2025. Sales from Other Metals are expected to be relatively minor and the range provided assumes 2026 prices of $7.30/lb for nickel, $1.35/lb for zinc, and $0.91/lb for lead, which are the metals that are expected to provide most of this component of sales. Sales volumes are expected to be split approximately 48%/52% between the first half and second half of 2026.\n\n\nThe 2026 sales guidance is determined based on a review of confidential information and production forecasts provided to Royal Gold from certain operating counterparties, and publicly available production forecasts for those interests where Royal Gold does not have rights t...