Over Five Years, Royal Gold Delivered 23.2% Annual Returns with Dividends vs. 11.7% for the S&P 500

Over the same period, Royal Gold's annual volatility reached 32.9%, compared to 17.1% for the S&P 500. For every point of volatility, the stock delivered 0.705 points of annual return, while the index provided 0.684. The difference was small, but Royal Gold shareholders earned slightly more return for each unit of risk taken.

A year leading up to November 10, 2026, the stock amplified both gains and losses for investments tracking the broader market. During S&P 500 rallies, a position in Royal Gold gained an average of approximately $117 for every $10,000 invested, compared to roughly $66 for the index. On days when the market declined, losses amounted to about $85 and $63, respectively.

Over this period, Royal Gold's annual volatility reached 42.3%, compared to 13.7% for the S&P 500. For every 1% movement in the index, the stock typically moved by about 1.29%. The correlation of daily changes was 0.42, meaning a significant portion of Royal Gold's fluctuations was unrelated to market movements.

The company generates revenue from streaming agreements and royalties on mining projects. According to management, gold accounted for 73% of revenue in the third quarter of the 2026 fiscal year. Quarterly revenue increased by 84% year-over-year due to higher metal prices and new contributions from Kansanshi, as well as the Sandstorm and Horizon portfolios. The next earnings report is expected in February 2027.