Royal Gold, Inc. RGLD issued a preliminary sales update for second-quarter 2026. In the quarter, Royal Gold sold 69,000 gold equivalent ounces (GEOs), comprising 54,500 ounces of gold, 595,500 ounces of silver, 2.5 million pounds of copper and 1.3 million pounds of lead.
This marks a decrease from 96,300 GEOs sold in the first quarter of 2026 but an increase from 63,900 GEOs sold in the second quarter of 2025.
In the second quarter of 2026, the cost of sales totaled $871 per GEO compared with $596 in the prior year quarter.
The company reported stream segment sales of $311 million compared with $123 million in the second quarter of 2025. Royalty segment sales for the second quarter of 2026 are estimated between $137 million and 142 million. The company posted Royalty segment sales of $51.1 million in the prior year quarter.
During the second quarter, RGLD repaid $200 million of debt. As of June 30, 2026, it had an outstanding balance of $400 million on its revolving credit facility, with $1.0 billion undrawn and available.
Royal Gold’s Other Updates
Royal Gold and Americas Gold and Silver Corporation USAS announced that they reached an agreement during the second quarter of 2026 to settle their outstanding gold delivery. USAS originally entered into a Precious Metals Delivery Agreement with Sandstorm Gold Ltd. in 2019 before Sandstorm Gold was acquired by Royal Gold in 2025. The new deal resolves America's Gold and Silver's outstanding commitment to deliver 8,861 ounces of gold to RGLD between June 2026 and December 2027.
Americas Gold and Silver will clear the outstanding obligation immediately in exchange for 5,000 ounces of gold and 2,652,532 common shares issued at a deemed price of $5.86 per share. RGLD recognized the proceeds from the settlement of the gold delivery as stream sales in the second quarter of 2026, which added $12 million of additional DD&A expense.
RGLD Stock’s Price Performance & Zacks Rank
In the past year, Royal Gold shares have gained 24.4% compared with the industry’s growth of 32.3%.
Royal Gold currently has a Zacks Rank #5 (Strong Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q2 Preliminary Results of Other Mining Stocks
Endeavour Silver Corp. EXK produced 1.94 million ounces of silver in the second quarter of 2026. This reflected a 31% increase from the year-ago quarter, driven by the addition of the Kolpa operation in May 2025. Endeavour Silver’s total gold production grew 35% year over year to 10,474 ounces. The company’s silver-equivalent ounces production increased 36% year over year.
Fortuna Mining Corp. FSM produced 72,217 GEO from ongoing operations in the second quarter of 2026, bringing the total first-half production to 145,089 GEOs. With first-half production already exceeding half of Fortuna Mining’s lower-end guidance, the company seems on track to achieve its 2026 production target of 281,000-305,000 GEO. The second-quarter 2026 reported figure marked a 1.4% increase from the year-ago quarter. The reported figure was broadly in line with 72,872 ounces produced in the first quarter of 2026.
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Royal Gold, Inc. (RGLD): Free Stock Analysis Report
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