Is PZG or RGLD more undervalued in 2026?

CirclFi compares Paramount Gold Nevada Corp. (PZG) and Royal Gold, Inc. (RGLD) using 13 institutional-grade valuation models. PZG has a Quality of Company score of 4.1/10 while RGLD scores 10.0/10.

Which is a better buy — PZG or RGLD?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do PZG and RGLD valuations compare?

PZG at $1.39 and RGLD at $222.68 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

PZG vs RGLD Valuation Comparison 2026 — Intrinsic Value Analysis

PZG

Gold

Paramount Gold Nevada Corp.

Quality

4.1

out of 10

Value Trap

LOW

Price

$1.39

Last close

Models

5/13

Active

RGLD

Gold

Royal Gold, Inc.

Quality

10.0

out of 10

Value Trap

SAFE

Price

$222.68

Last close

Models

13/13

Active

Model-by-Model Comparison

Model	Type	PZG Fair Value	PZG Upside	RGLD Fair Value	RGLD Upside
Bayesian DCF	Intrinsic	$0.33	-76.0%	$116.00	-47.9%
Earnings Power Value	Intrinsic	—	—	$70.50	-68.3%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$0.04	-97.4%	$35.66	-84.0%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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PZG vs RGLD — Which Stock Is More Undervalued?

RGLD scores higher with a 10.0/10 quality rating vs PZG's 4.1/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Paramount Gold Nevada Corp. (PZG) and Royal Gold, Inc. (RGLD) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

PZG currently trades at $1.39 with a QOC of 4.1/10, while RGLD trades at $222.68 with a QOC of 10.0/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).