Royal Gold, Inc. (NASDAQ: RGLD) is a precious metals company, but it isn’t a traditional miner like Newmont Mining Corp (NYSE: NEM) or Freeport-McMoRan Inc (NYSE: FCX). Investors looking at the gold and silver space should take the time to analyze what that means because it changes the risk equation. In the end, Royal Gold isn’t risk free, but it may not be as risky as your typical ‘gold’ stock.