Royal Gold shares fall 4.37% premarket after announcing acquisitions of Sandstorm Gold and Horizon Copper.

Royal Gold, Inc. declined 4.37% in premarket trading, with the company announcing its acquisition of Canada's Sandstorm Gold for an equity value of about $3.5 billion. The deal is expected to close in the fourth quarter of 2025, with Royal Gold shareholders owning nearly 77% and Sandstorm shareholders owning about 23% of the combined company. Additionally, Royal Gold is acquiring Horizon Copper Corp. for approximately US$196 million, further expanding its portfolio of precious metals and copper assets.