Is RGLD or TRX more undervalued in 2026?

CirclFi compares Royal Gold, Inc. (RGLD) and TRX Gold Corporation (TRX) using 13 institutional-grade valuation models. RGLD has a Quality of Company score of 10.0/10 while TRX scores 1.7/10.

Which is a better buy — RGLD or TRX?

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 RGLD and TRX valuations compare?

RGLD at $222.68 and TRX at $1.10 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

RGLD vs TRX Valuation Comparison 2026 — Intrinsic Value Analysis

RGLD

Gold

Royal Gold, Inc.

Quality

10.0

out of 10

Value Trap

SAFE

Price

$222.68

Last close

Models

13/13

Active

TRX

Gold

TRX Gold Corporation

Quality

1.7

out of 10

Value Trap

—

Price

$1.10

Last close

Models

9/13

Active

Model-by-Model Comparison

Model	Type	RGLD Fair Value	RGLD Upside	TRX Fair Value	TRX Upside
Bayesian DCF	Intrinsic	$116.00	-47.9%	$0.29	-73.5%
Earnings Power Value	Intrinsic	$70.50	-68.3%	—	—
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$144.07	-35.3%	$0.93	-14.5%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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RGLD vs TRX — Which Stock Is More Undervalued?

RGLD scores higher with a 10.0/10 quality rating vs TRX's 1.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Royal Gold, Inc. (RGLD) and TRX Gold Corporation (TRX) 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.

RGLD currently trades at $222.68 with a QOC of 10.0/10, while TRX trades at $1.10 with a QOC of 1.7/10.

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).