Royal Gold, Inc.

LSE:0KXS Stock Report

Market Cap: US$11.7b

Royal Gold Valuation

Is 0KXS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0KXS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
US$218.27
Fair Value
18.7% undervalued intrinsic discount
11
Number of Analysts

Below Fair Value: 0KXS ($177.36) is trading below our estimate of fair value ($218.27)

Significantly Below Fair Value: 0KXS is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0KXS?

Key metric: As 0KXS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0KXS. This is calculated by dividing 0KXS's market cap by their current earnings.
What is 0KXS's PE Ratio?
PE Ratio29.3x
EarningsUS$398.36m
Market CapUS$11.69b

Price to Earnings Ratio vs Peers

How does 0KXS's PE Ratio compare to its peers?

The above table shows the PE ratio for 0KXS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average34.7x
HOC Hochschild Mining
19.4x24.68%UK£1.4b
PAF Pan African Resources
14.9x45.50%UK£922.3m
FRES Fresnillo
76.1x31.54%UK£7.7b
ANTO Antofagasta
28.4x18.77%UK£17.6b
0KXS Royal Gold
29.3x5.56%US$11.7b

Price-To-Earnings vs Peers: 0KXS is good value based on its Price-To-Earnings Ratio (29.3x) compared to the peer average (34.7x).

Price to Earnings Ratio vs Industry

How does 0KXS's PE Ratio compare vs other companies in the GB Metals and Mining Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NLMK Novolipetsk Steel
0.8xn/aUS$4.08b
EVR EVRAZ
0.4xn/aUS$1.42b
MTL Metals Exploration
1.9x-9.83%US$273.57m
ARCM Arc Minerals
1.8xn/aUS$20.88m
0KXS 29.3xIndustry Avg. 8.8xNo. of Companies6PE0816243240+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0KXS is expensive based on its Price-To-Earnings Ratio (29.3x) compared to the UK Metals and Mining industry average (8.8x).

Price to Earnings Ratio vs Fair Ratio

What is 0KXS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0KXS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio29.3x
Fair PE Ratio16.1x

Price-To-Earnings vs Fair Ratio: 0KXS is expensive based on its Price-To-Earnings Ratio (29.3x) compared to the estimated Fair Price-To-Earnings Ratio (16.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 0KXS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$177.92
US$202.27
+13.69%
7.64%US$227.00US$170.00n/a11
May ’26US$177.88
US$198.91
+11.82%
6.81%US$222.00US$170.00n/a11
Apr ’26US$162.35
US$173.10
+6.62%
7.97%US$190.00US$139.00n/a10
Mar ’26US$145.00
US$172.00
+18.62%
7.94%US$188.00US$138.00n/a10
Feb ’26US$139.34
US$172.00
+23.44%
7.74%US$186.00US$140.00n/a10
Jan ’26US$131.92
US$170.27
+29.07%
8.05%US$186.00US$140.00n/a11
Dec ’25US$147.31
US$169.36
+14.97%
8.47%US$186.00US$140.00n/a11
Nov ’25US$145.82
US$164.91
+13.09%
10.34%US$184.00US$133.00n/a11
Oct ’25US$141.59
US$160.18
+13.13%
9.73%US$184.00US$133.00n/a11
Sep ’25US$139.24
US$159.14
+14.29%
9.02%US$175.00US$131.00n/a11
Aug ’25US$136.89
US$158.50
+15.79%
9.34%US$175.00US$131.00n/a12
Jul ’25US$125.30
US$153.42
+22.44%
8.92%US$168.00US$130.00n/a12
Jun ’25US$126.94
US$152.83
+20.40%
8.88%US$167.00US$129.00n/a12
May ’25US$121.69
US$151.29
+24.33%
9.70%US$168.00US$129.00US$177.8812
Apr ’25US$122.12
US$143.17
+17.23%
11.96%US$166.00US$115.00US$162.3512
Mar ’25US$106.27
US$142.33
+33.93%
11.67%US$166.00US$115.00US$145.0012
Feb ’25US$116.72
US$146.36
+25.40%
8.76%US$160.00US$120.00US$139.3411
Jan ’25US$120.57
US$143.45
+18.98%
8.54%US$160.00US$120.00US$131.9211
Dec ’24US$123.16
US$142.64
+15.81%
8.59%US$160.00US$120.00US$147.3111
Nov ’24US$104.22
US$146.36
+40.44%
9.51%US$175.00US$120.00US$145.8211
Oct ’24US$105.84
US$148.09
+39.92%
9.46%US$175.00US$122.00US$141.5911
Sep ’24US$112.11
US$145.77
+30.02%
10.54%US$175.00US$122.00US$139.2413
Aug ’24US$115.85
US$145.54
+25.63%
10.41%US$175.00US$122.00US$136.8913
Jul ’24US$114.08
US$147.69
+29.46%
8.96%US$175.00US$122.00US$125.3013
Jun ’24US$127.11
US$148.38
+16.74%
8.10%US$175.00US$122.00US$126.9413
May ’24US$132.54
US$147.62
+11.37%
8.66%US$175.00US$122.00US$121.6913
AnalystConsensusTarget
Consensus Narrative from 11 Analysts
US$202.04
Fair Value
12.2% undervalued intrinsic discount
11
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/05/21 20:01
End of Day Share Price 2025/05/21 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Royal Gold, Inc. is covered by 32 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Farooq HamedBarclays
Garrett NelsonBB&T Capital Markets
Matthew MurphyBMO Capital Markets Equity Research