Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net income	$ 471,576	$ 332,479	$ 240,132
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	177,082	144,426	164,937
Non-cash employee stock compensation expense	11,805	11,892	9,696
Fair value changes in equity securities	(327)	66	147
Loss on marketable securities	50,017	0	0
Deferred tax (benefit) expense	(3,926)	8,354	(6,469)
Other	(5,302)	945	779
Changes in assets and liabilities:
Royalty receivables	(18,124)	(14,577)	521
Stream inventory	(11,740)	(3,186)	2,868
Income tax receivable	(969)	1,537	390
Prepaid expenses and other assets	1,335	11,168	(4,369)
Accounts payable	(36,836)	(9,113)	4,756
Income tax payable	10,761	7,620	(508)
Mount Milligan deferred liability	44,211	25,000	0
Other liabilities	15,283	12,892	2,912
Net cash provided by operating activities	704,846	529,503	415,792
Cash flows from investing activities:
Sandstorm & Horizon acquisition, net of cash acquired	(411,342)	0	0
Acquisition of stream and royalty interests	(1,164,753)	(102,564)	(2,678)
Proceeds from the sale of the Versamet Shares and other securities	158,886	0	0
Cash calls for Hod Maden equity method investment	(9,330)	0	0
Proceeds from Khoemacau debt facility	0	25,000	0
Proceeds from the sale of inventory - restricted	7,681	0	0
Other	299	(116)	(151)
Net cash used in investing activities	(1,418,559)	(77,680)	(2,829)
Cash flows from financing activities:
Repayment of debt	(375,000)	(250,000)	(325,000)
Borrowings from revolving credit facility	1,275,000	0	0
Net payments from issuance of common stock	(5,032)	(4,620)	(1,383)
Net proceeds from Sandstorm option exercises	15,333	0	0
Horizon warrant payments	(28,932)	0	0
Distributions to non-controlling interests	(8,125)	0	0
Common stock dividends	(118,525)	(105,237)	(98,567)
Other	(2,785)	(635)	(2,432)
Net cash provided by (used in) financing activities	751,934	(360,492)	(427,382)
Net increase (decrease) in cash and equivalents	38,221	91,331	(14,419)
Cash and equivalents at beginning of period	195,498	104,167	118,586
Cash and equivalents at end of period	$ 233,719	$ 195,498	$ 104,167