Royal Gold, Inc. RGLD provided an update on its 2026 and five-year outlook.
The company expects gold sales volumes to be 290,000 to 320,000 ounces for 2026, indicating a 32% year-over-year increase at the mid-point. Silver sales are expected to be 3 million to 3.5 million ounces. This suggests an improvement of 8% at mid-point from 2025’s silver sales.
The company guided copper sales of 21-25 million pounds, indicating a 40% year-over-year mid-point increase. Royal Gold expects gold, silver and copper to be the major revenue drivers for 2026, with sales volumes split around 48% and 52% between the first and second halves of the year.
The company will gain from the first full year of gold deliveries from Kansanshi and the first full year of production from Back River and Platreef. First full-year contributions from Sandstorm and Horizon portfolios will also boost Royal Gold’s volumes in 2026.
RGLD’s Long-Term View
Royal Gold announced a five???year guidance expecting 430,000-480,000 gold-equivalent ounces. This marks a substantial increase from 300,300 gold-equivalent ounces produced in 2025.
Increased production from Khoemacau and Platreef Phase 2, as well as production from new assets, will contribute to growth.
Royal Gold Balance Sheet Updates
RGLD is focused on debt reduction. On March 12, 2026, the company made a further repayment of $125 million on its revolving credit facility, which reduced the outstanding amount to $600 million. The current available amount is $800 million.
RGLD Stock’s Price Performance
In the past year, Royal Gold shares have soared 56.4% compared with the industry’s surge of 85.3%. Meanwhile, the Basic Materials sector has jumped 37.2% and the S&P 500 has rallied 17.4%.
2026 Outlook of Royal Gold’s Peers
B2Gold Corp. BTG expects 2026 total gold production between 820,000 and 970,000 ounces, marking a decrease from the 979,604 ounces produced in 2025. The downside in B2Gold’s production is likely to be driven by a step down in production at the Otjikoto Mine and lower production at the Fekola Complex. This will be partially offset by the Goose mine ramp-up.
Franco-Nevada Corporation FNV expects total GEOs between 510,000 and 570,000 for 2026, indicating a 4% increase at the mid-point from the 2025 reported figure. The upside will be driven by the first full year of contribution from Cote Gold, Porcupine and Valentine Gold. The continued ramp-up of Salares Norte and Greenstone, along with recent acquisitions, will also aid Franco-Nevada’s growth.
RGLD’s Zacks Rank & Stock to Consider
Royal Gold currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
One better-ranked stock from the Basic Materials sector is Carpenter Technology Corporation CRS.
The Zacks Consensus Estimate for Carpenter Technology’s 2026 earnings is pegged at $10.28 per share, indicating a year-over-year increase of 37.4%. CRS’s shares have skyrocketed 116.4% in a year. It delivered an average trailing four-quarter earnings surprise of 9.2%.
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Carpenter Technology Corporation (CRS): Free Stock Analysis Report
Franco-Nevada Corporation (FNV): Free Stock Analysis Report
Royal Gold, Inc. (RGLD): Free Stock Analysis Report
B2Gold Corp (BTG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).