Royal Gold Sees Revenue Surge Amid Portfolio Expansion
Royal Gold's revenue surged to $917 million in the first half of 2026, an increase of 128% year over year. This growth is attributed to higher metal prices and new contributions from Kansanshi and the acquired Sandstorm and Horizon assets. The company's acquisition of these assets has added significant diversity to its portfolio.
The deal that saw Royal Gold acquire Sandstorm Gold Ltd. and Horizon Copper Corp in October 2025 added 40 producing assets to the company's portfolio. This has doubled the number of revenue-producing assets for Royal Gold, with the acquired assets generating $235 million in revenues since closing. The company also inked a $1-billion gold stream deal in August 2025 for the Kansanshi mine in Zambia.
Royal Gold's net cash provided by operating activities was $629 million in the first six months of 2026, more than double the prior-year level. Adjusted EBITDA was $767 million in the same period, a 129% increase year over year.