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Osisko Gold Royalties

TSX:OR
Snowflake Description

Adequate balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
OR
TSX
CA$2B
Market Cap
  1. Home
  2. CA
  3. Materials
Company description

Osisko Gold Royalties Ltd acquires and manages precious metal and other royalties, streams, and similar interests in Canada and internationally. The last earnings update was 30 days ago. More info.


Add to Portfolio Compare Print
  • Osisko Gold Royalties has significant price volatility in the past 3 months.
OR Share Price and Events
7 Day Returns
1.5%
TSX:OR
-0.3%
CA Metals and Mining
0.5%
CA Market
1 Year Returns
26.3%
TSX:OR
-5.4%
CA Metals and Mining
0.9%
CA Market
OR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Osisko Gold Royalties (OR) 1.5% 6.5% 37.1% 26.3% 21.4% -
CA Metals and Mining -0.3% 0.9% 12.2% -5.4% 14.5% -18.7%
CA Market 0.5% 1.7% 14.2% 0.9% 17.2% 6.3%
1 Year Return vs Industry and Market
  • OR outperformed the Metals and Mining industry which returned -5.4% over the past year.
  • OR outperformed the Market in Canada which returned 0.9% over the past year.
Price Volatility
OR
Industry
5yr Volatility vs Market

OR Value

 Is Osisko Gold Royalties undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Osisko Gold Royalties to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Osisko Gold Royalties.

TSX:OR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.1%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:OR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.18
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.18 (1 + (1- 26.5%) (14.55%))
1.205
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.21
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.205 * 5.96%)
9.13%

Discounted Cash Flow Calculation for TSX:OR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Osisko Gold Royalties is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:OR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 9.13%)
2019 79.13 Analyst x8 72.51
2020 98.05 Analyst x7 82.33
2021 119.65 Analyst x2 92.06
2022 131.00 Analyst x1 92.36
2023 140.08 Est @ 6.93% 90.50
2024 147.69 Est @ 5.43% 87.44
2025 154.17 Est @ 4.39% 83.64
2026 159.80 Est @ 3.66% 79.44
2027 164.82 Est @ 3.14% 75.08
2028 169.41 Est @ 2.78% 70.72
Present value of next 10 years cash flows CA$826.08
TSX:OR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CA$169.41 × (1 + 1.95%) ÷ (9.13% – 1.95%)
CA$2,404.63
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$2,404.63 ÷ (1 + 9.13%)10
CA$1,003.75
TSX:OR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$826.08 + CA$1,003.75
CA$1,829.83
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$1,829.83 / 154.81
CA$11.82
TSX:OR Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$11.82
Current discount Discount to share price of CA$15.66
= -1 x (CA$15.66 - CA$11.82) / CA$11.82
-32.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Osisko Gold Royalties is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Osisko Gold Royalties's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Osisko Gold Royalties's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:OR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CAD CA$-0.67
TSX:OR Share Price ** TSX (2019-03-22) in CAD CA$15.66
Canada Metals and Mining Industry PE Ratio Median Figure of 115 Publicly-Listed Metals and Mining Companies 12.47x
Canada Market PE Ratio Median Figure of 543 Publicly-Listed Companies 15.17x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Osisko Gold Royalties.

TSX:OR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:OR Share Price ÷ EPS (both in CAD)

= 15.66 ÷ -0.67

-23.23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Osisko Gold Royalties is loss making, we can't compare its value to the CA Metals and Mining industry average.
  • Osisko Gold Royalties is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Osisko Gold Royalties's expected growth come at a high price?
Raw Data
TSX:OR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -23.23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
48.2%per year
Canada Metals and Mining Industry PEG Ratio Median Figure of 35 Publicly-Listed Metals and Mining Companies 0.71x
Canada Market PEG Ratio Median Figure of 253 Publicly-Listed Companies 1.23x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Osisko Gold Royalties, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Osisko Gold Royalties's assets?
Raw Data
TSX:OR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CAD CA$11.40
TSX:OR Share Price * TSX (2019-03-22) in CAD CA$15.66
Canada Metals and Mining Industry PB Ratio Median Figure of 1,080 Publicly-Listed Metals and Mining Companies 1.43x
Canada Market PB Ratio Median Figure of 2,348 Publicly-Listed Companies 1.58x
TSX:OR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:OR Share Price ÷ Book Value per Share (both in CAD)

= 15.66 ÷ 11.40

1.37x

* Primary Listing of Osisko Gold Royalties.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Osisko Gold Royalties is good value based on assets compared to the CA Metals and Mining industry average.
X
Value checks
We assess Osisko Gold Royalties's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Osisko Gold Royalties has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

OR Future Performance

 How is Osisko Gold Royalties expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
48.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Osisko Gold Royalties expected to grow at an attractive rate?
  • Osisko Gold Royalties's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Osisko Gold Royalties's earnings growth is expected to exceed the Canada market average.
  • Osisko Gold Royalties's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:OR Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:OR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 48.2%
TSX:OR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 15.1%
Canada Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 34.2%
Canada Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 6.9%
Canada Market Earnings Growth Rate Market Cap Weighted Average 17.9%
Canada Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:OR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:OR Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,186 207 71 1
2022-12-31 1,064 161 59 1
2021-12-31 617 164 58 2
2020-12-31 558 122 52 5
2019-12-31 522 108 50 6
TSX:OR Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2018-12-31 490 82 -106
2018-09-30 485 85 -56
2018-06-30 441 66 -55
2018-03-31 322 60 -44
2017-12-31 213 49 -43
2017-09-30 117 40 31
2017-06-30 67 54 42
2017-03-31 64 56 46
2016-12-31 63 53 42
2016-09-30 62 49 38
2016-06-30 56 47 30
2016-03-31 50 37 18

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Osisko Gold Royalties's earnings are expected to grow significantly at over 20% yearly.
  • Osisko Gold Royalties's revenue is expected to grow by 15.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:OR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Osisko Gold Royalties Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:OR Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 0.45 0.45 0.45 1.00
2022-12-31 0.38 0.42 0.33 2.00
2021-12-31 0.37 0.39 0.35 2.00
2020-12-31 0.34 0.37 0.30 2.00
2019-12-31 0.25 0.32 0.21 3.00
TSX:OR Past Financials Data
Date (Data in CAD Millions) EPS *
2018-12-31 -0.67
2018-09-30 -0.36
2018-06-30 -0.36
2018-03-31 -0.31
2017-12-31 -0.33
2017-09-30 0.26
2017-06-30 0.39
2017-03-31 0.43
2016-12-31 0.40
2016-09-30 0.37
2016-06-30 0.31
2016-03-31 0.19

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Osisko Gold Royalties is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Osisko Gold Royalties's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Osisko Gold Royalties has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

OR Past Performance

  How has Osisko Gold Royalties performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Osisko Gold Royalties's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Osisko Gold Royalties does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Osisko Gold Royalties's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Osisko Gold Royalties's 1-year growth to the CA Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
Osisko Gold Royalties's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Osisko Gold Royalties Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:OR Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 490.47 -105.59 22.86
2018-09-30 484.69 -56.05 31.44
2018-06-30 441.16 -54.80 32.51
2018-03-31 321.70 -44.27 34.36
2017-12-31 213.22 -42.50 32.07
2017-09-30 117.37 30.53 25.66
2017-06-30 66.76 41.56 25.15
2017-03-31 64.20 46.25 25.01
2016-12-31 62.68 42.11 23.76
2016-09-30 61.78 38.05 26.42
2016-06-30 55.93 30.16 28.88
2016-03-31 50.39 18.42 26.56
2015-12-31 45.42 28.75 26.19
2015-09-30 40.21 21.95 24.83
2015-06-30 38.06 17.91 20.72
2015-03-31 27.81 11.67 16.85
2014-12-31 17.18 -2.10 13.17
2014-09-30 9.57 -8.38 9.75
2014-06-30 -18.09 7.66
2014-03-31 -24.01 7.88
2013-12-31 -28.68 8.16

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Osisko Gold Royalties has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Osisko Gold Royalties has efficiently used its assets last year compared to the CA Metals and Mining industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Osisko Gold Royalties improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Osisko Gold Royalties's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Osisko Gold Royalties has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

OR Health

 How is Osisko Gold Royalties's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Osisko Gold Royalties's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Osisko Gold Royalties is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Osisko Gold Royalties's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Osisko Gold Royalties's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Osisko Gold Royalties Company Filings, last reported 2 months ago.

TSX:OR Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,771.60 352.77 184.27
2018-09-30 1,868.20 419.68 147.19
2018-06-30 1,884.10 419.23 189.63
2018-03-31 1,878.41 467.48 333.12
2017-12-31 1,894.41 464.31 333.71
2017-09-30 1,931.76 193.74 110.35
2017-06-30 1,218.30 46.24 350.19
2017-03-31 1,218.72 46.01 426.11
2016-12-31 1,214.30 45.78 501.35
2016-09-30 1,200.73 45.55 392.82
2016-06-30 1,162.23 45.33 424.59
2016-03-31 1,127.54 45.11 439.11
2015-12-31 937.24 0.00 258.71
2015-09-30 958.38 0.00 306.11
2015-06-30 948.84 0.00 326.59
2015-03-31 942.71 0.00 357.13
2014-12-31 263.23 0.00 175.17
2014-09-30 191.20 0.00 156.76
2014-06-30 187.74 0.00 156.74
2014-03-31
2013-12-31
  • Osisko Gold Royalties's level of debt (19.9%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Osisko Gold Royalties's debt level has increased without past 5-year debt data.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Osisko Gold Royalties has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Osisko Gold Royalties has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -62.5% per year.
X
Financial health checks
We assess Osisko Gold Royalties's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Osisko Gold Royalties has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

OR Dividends

 What is Osisko Gold Royalties's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.28%
Current annual income from Osisko Gold Royalties dividends. Estimated to be 1.42% next year.
If you bought CA$2,000 of Osisko Gold Royalties shares you are expected to receive CA$26 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Osisko Gold Royalties's pays a lower dividend yield than the bottom 25% of dividend payers in Canada (2.05%).
  • Osisko Gold Royalties's dividend is below the markets top 25% of dividend payers in Canada (5.63%).
Upcoming dividend payment

Purchase Osisko Gold Royalties on or before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:OR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
Canada Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 1.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 330 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:OR Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.25 2.00
2022-12-31 0.24 2.00
2021-12-31 0.22 3.00
2020-12-31 0.22 6.00
2019-12-31 0.21 7.00
TSX:OR Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-02-20 0.200 1.328
2018-11-06 0.200 1.781
2018-08-02 0.200 1.933
2018-05-03 0.200 1.570
2018-02-20 0.200 1.599
2017-11-08 0.200 1.390
2017-08-03 0.200 1.225
2017-05-05 0.160 1.030
2017-03-16 0.160 1.080
2016-11-10 0.160 1.160
2016-08-04 0.160 1.081
2016-05-05 0.160 0.966
2016-02-17 0.160 1.114
2015-11-05 0.160 1.145
2015-08-06 0.120 0.825
2015-05-15 0.120 0.749
2015-02-19 0.120 0.711
2014-11-17 0.120 0.761

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Osisko Gold Royalties has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Osisko Gold Royalties only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Osisko Gold Royalties's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess Osisko Gold Royalties's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Osisko Gold Royalties afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Osisko Gold Royalties has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

OR Management

 What is the CEO of Osisko Gold Royalties's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sean E. Roosen
COMPENSATION CA$2,774,721
AGE 55
TENURE AS CEO 4.9 years
CEO Bio

Mr. Sean E. O. Roosen, Eng., has been the Chairman and Chief Executive Officer of Osisko Gold Royalties Ltd. since April 30, 2014. Mr. Roosen has been the Chief Executive Officer and President of Brett Resources Inc., since June 2010. He serves as the Chief Operating Officer of EurAsia Holding AG. He has been a Director at Victoria Gold Corp. since June 2018. He served as a Special Advisor at Astur Gold Corp. since December 2014 until August 17, 2016. He has over 20 years of experience in mineral exploration industry with Etruscan, Echo Bay and Placer Dome. He founded Eurasia Holding AG. He has held various progressive positions in the mining industry both domestically and internationally. He served as Chief Executive Officer and President of Osisko Hammond Reef Gold Ltd. since June 2010. He co-founded Osisko Mining Corporation. He served as the Chief Executive Officer and President of Osisko Mining Corporation from August 2006 to 2014. He served as Secretary of Osisko Mining Corporation until January 10, 2007 and served as its Chief Operating Officer until March 30, 2006. Mr. Roosen was responsible for leading the strategic development and was instrumental in securing the necessary financing to fund the development of the $1 billion Canadian Malartic Mine. He served as an Operations Manager of Etruscan Resources. He serves as Chairman of Osisko Mining Inc. Mr. Roosen served as Co-Chairman of Osisko Mining Inc. He served as a Director of Operations at IRT Interconti Trading from May 2001 to September 2003. He serves as Co-Chairman at Oban Mining Corporation and has been its Director since 2015. He served as the Chairman of the Board at Condor Petroleum, Inc. He has been the Chairman of Falco Resources Ltd. since September 11, 2014. He has been the Chairman of the Board of Barkerville Gold Mines Ltd. since March 30, 2017 and served as its Co-Chairman from February 2016 to March 30, 2017. He served as the Chairman of the Board at Niogold Mining Corp. until March 2016. He served as the Non-Executive Chairman of Rio Novo Gold Inc. He has been an Independent Director of Niogold Mining Corp., since August 27, 2014. Mr. Roosen has been an Independent Director of Dalradian Resources Inc. since October 30, 2009 and Brett Resources Inc. since June 2010. He serves as a Director of New Horizon Energy Inc., EurAsia Resource Value SE and RV Resource Value Holding PLC. He has been a Director of Osisko Gold Royalties Ltd. since April 30, 2014. He had been a Director of Condor Petroleum, Inc. since October 2006 until 2019. He serves as a Founder and Member of Supervisory Board at Eurasia Holding AG. He served as a Director at Rio Novo Gold Inc until June 29, 2012. He served as Non-Independent Director of Osisko Mining Corporation since September 2003. He served as a Director of Osisko Hammond Reef Gold Ltd. since June 2010. He served as a Director at Astur Gold Corp. from August 23, 2010 to December 18, 2014, Bowmore Exploration Ltd. from June 30, 2009 to February 9, 2016 and Nevoro Inc. since February 5, 2007. He is a recipient of the Prospector of the Year Award - 2006 (Association de l'exploration minière du Québec), Prospector of the Year Award - 2008 (Prospectors and Developers Association of Canada), and Entrepreneur of the Year Award - 2009 (Association de l'exploration minière du Québec), all honours shared with the Osisko team. Mr. Roosen obtained his degree from Haileybury School of Mines.

CEO Compensation
  • Sean E.'s compensation has increased whilst company is loss making.
  • Sean E.'s remuneration is about average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Osisko Gold Royalties management team in years:

4.4
Average Tenure
54
Average Age
  • The tenure for the Osisko Gold Royalties management team is about average.
Management Team

Sean E. Roosen

TITLE
Chair of the Board & CEO
COMPENSATION
CA$3M
AGE
55
TENURE
4.9 yrs

Bryan Coates

TITLE
President
COMPENSATION
CA$3M
AGE
60
TENURE
4.9 yrs

Elif Lévesque

TITLE
VP of Finance & CFO
COMPENSATION
CA$2M
TENURE
4.9 yrs

Luc Lessard

TITLE
Senior Vice President of Technical Services
COMPENSATION
CA$2M
AGE
54
TENURE
3.8 yrs

André Le Bel

TITLE
VP of Legal Affairs & Corporate Secretary
COMPENSATION
CA$1M
AGE
50
TENURE
4.1 yrs

Joseph de la Plante

TITLE
Vice President of Corporate Development
TENURE
4.8 yrs

Frédéric Ruel

TITLE
VP & Corporate Controller
AGE
41
TENURE
2.3 yrs

Michael Spencer

TITLE
Managing Director of Osisko Bermuda Limited
TENURE
1.5 yrs
Board of Directors Tenure

Average tenure and age of the Osisko Gold Royalties board of directors in years:

4.2
Average Tenure
55.5
Average Age
  • The tenure for the Osisko Gold Royalties board of directors is about average.
Board of Directors

Sean E. Roosen

TITLE
Chair of the Board & CEO
COMPENSATION
CA$3M
AGE
55
TENURE
4.9 yrs

Charlie Page

TITLE
Director
COMPENSATION
CA$208K
AGE
66
TENURE
4.9 yrs

Joanne Ferstman

TITLE
Lead Director
COMPENSATION
CA$348K
AGE
50
TENURE
4.9 yrs

Pierre Labbé

TITLE
Director
COMPENSATION
CA$210K
AGE
53
TENURE
4.1 yrs

John Burzynski

TITLE
Non-Independent Director
COMPENSATION
CA$184K
AGE
54
TENURE
4.9 yrs

André Gaumond

TITLE
Non-Independent Director
COMPENSATION
CA$186K
AGE
56
TENURE
4.1 yrs

Françoise Bertrand

TITLE
Director
COMPENSATION
CA$201K
AGE
69
TENURE
4.3 yrs

Christopher Curfman

TITLE
Director
COMPENSATION
CA$199K
AGE
65
TENURE
2.8 yrs

Oskar Lewnowski

TITLE
Director
COMPENSATION
CA$223K
AGE
52
TENURE
1.7 yrs

Pierre Chenard

TITLE
Director
COMPENSATION
CA$217K
AGE
57
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • Osisko Gold Royalties insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
28. Feb 19 Sell André Gaumond Individual 26. Feb 19 26. Feb 19 -70,000 CA$14.95 CA$-1,046,500
24. Jan 19 Sell John Burzynski Individual 24. Jan 19 24. Jan 19 -1,511 CA$11.75 CA$-17,754
16. Aug 18 Buy Vincent Metcalfe Individual 16. Aug 18 16. Aug 18 1,000 CA$10.43 CA$10,430
15. Aug 18 Buy Joseph de la Plante Individual 15. Aug 18 15. Aug 18 1,300 CA$10.61 CA$13,793
14. Aug 18 Buy Vincent Metcalfe Individual 14. Aug 18 14. Aug 18 1,000 CA$11.15 CA$11,150
13. Aug 18 Buy Vincent Metcalfe Individual 08. Aug 18 13. Aug 18 1,200 CA$11.56 CA$13,812
13. Aug 18 Buy Vincent Metcalfe Individual 10. Aug 18 10. Aug 18 400 CA$11.63 CA$4,652
09. Aug 18 Buy Vincent Metcalfe Individual 09. Aug 18 09. Aug 18 500 CA$11.69 CA$5,845
08. Aug 18 Buy Vincent Metcalfe Individual 08. Aug 18 08. Aug 18 1,000 CA$11.51 CA$11,510
21. Jun 18 Buy Vincent Metcalfe Individual 21. Jun 18 21. Jun 18 800 CA$12.24 CA$9,788
14. Apr 18 Buy Joanne Ferstman Individual 13. Apr 18 13. Apr 18 5,000 CA$12.66 CA$63,275
X
Management checks
We assess Osisko Gold Royalties's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Osisko Gold Royalties has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

OR News

Simply Wall St News

Is Osisko Gold Royalties Ltd's (TSE:OR) CEO Pay Justified?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … According to our data, Osisko Gold Royalties Ltd has a market capitalization of CA$2.4b, and pays its CEO total annual compensation worth CA$2.8m. … We examined companies with market caps from CA$1.3b to CA$4.3b, and discovered that the median CEO total compensation of that group was CA$2.9m.

Simply Wall St -

Is Osisko Gold Royalties Ltd's (TSE:OR) Balance Sheet Strong Enough To Weather A Storm?

Investors are always looking for growth in small-cap stocks like Osisko Gold Royalties Ltd (TSE:OR), with a market cap of CA$2.3b. … However, an important fact which most ignore is: how financially healthy is the business? … the current state of its operations and pathway to profitability.

Simply Wall St -

Need To Know: Osisko Gold Royalties Ltd (TSE:OR) Insiders Have Been Buying Shares

We often see insiders buying up shares in companies that perform well over the long term. … So shareholders might well want to know whether insiders have been buying or selling shares in Osisko Gold Royalties Ltd (TSE:OR). … The Last 12 Months Of Insider Transactions At Osisko Gold Royalties.

Simply Wall St -

Read This Before Buying Osisko Gold Royalties Ltd (TSE:OR) For Its Dividend

Osisko Gold Royalties Ltd (TSE:OR) has recently paid dividends to shareholders, and currently yields 1.7%. … Does Osisko Gold Royalties tick all the boxes of a great dividend stock? … View our latest analysis for Osisko Gold Royalties

Simply Wall St -

What Kind Of Shareholder Appears On The Osisko Gold Royalties Ltd's (TSE:OR) Shareholder Register?

The big shareholder groups in Osisko Gold Royalties Ltd (TSE:OR) have power over the company. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Our analysis of the ownership of the company, below, shows that.

Simply Wall St -

Should You Worry About Osisko Gold Royalties Ltd's (TSE:OR) CEO Pay Cheque?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … According to our data, Osisko Gold Royalties Ltd has a market capitalization of CA$1.5b, and pays its CEO total annual compensation worth CA$2.8m. … Roosen more than the median CEO remuneration at companies of a similar size, in the same market

Simply Wall St -

Are Osisko Gold Royalties Ltd's (TSE:OR) Interest Costs Too High?

Osisko Gold Royalties Ltd (TSE:OR) is a small-cap stock with a market capitalization of CA$1.6b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health.

Simply Wall St -

Should Osisko Gold Royalties Ltd (TSE:OR) Be Part Of Your Portfolio?

In the past 4 years Osisko Gold Royalties Ltd (TSE:OR) has returned an average of 1.00% per year to investors in the form of dividend payouts. … Let's dig deeper into whether Osisko Gold Royalties should have a place in your portfolio. … See our latest analysis for Osisko Gold Royalties

Simply Wall St -

Is Osisko Gold Royalties Ltd's (TSE:OR) Balance Sheet Strong Enough To Weather A Storm?

Osisko Gold Royalties Ltd (TSE:OR) is a small-cap stock with a market capitalization of CA$1.94b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health.

Simply Wall St -

Is It Too Late To Buy Osisko Gold Royalties Ltd (TSE:OR)?

Osisko Gold Royalties Ltd (TSX:OR), a metals and mining company based in Canada, saw a double-digit share price rise of over 10% in the past couple of months on the TSX. … And if you believe Osisko Gold Royalties should be trading in this range, then there isn’t much room for the share price grow beyond what it’s currently trading. … OR’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

OR Company Info

Description

Osisko Gold Royalties Ltd acquires and manages precious metal and other royalties, streams, and similar interests in Canada and internationally. Its assets include the 5% net smelter return (NSR) royalty on the Canadian Malartic mine; the 2.0% to 3.5% NSR royalty on the Eleonore mine; a 9.6% diamond stream on the Renard diamond mine; a 4% gold and silver stream on the Brucejack gold; a 3% NSR royalty on the Seabee gold operations located in Saskatchewan, Canada; and the 1.38% to 2.55% NSR royalty on the Island Gold mine. The company also has a 100% silver stream on the Mantos Blancos copper mine in Chile. It holds a portfolio of approximately 136 royalties, streams, and precious metal offtakes in North America; and owns rights to participate in future royalty/stream financings on various projects primarily in Canada. Osisko Gold Royalties Ltd is headquartered in Montreal, Canada.

Details
Name: Osisko Gold Royalties Ltd
OR
Exchange: TSX
Founded:
CA$2,424,296,145
154,808,183
Website: http://www.osiskogr.com
Address: Osisko Gold Royalties Ltd
1100, Avenue des Canadiens-de-Montréal,
Suite 300,
Montreal,
Quebec, H3B 2S2,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX OR Common Shares The Toronto Stock Exchange CA CAD 02. Jun 2014
NYSE OR Common Shares New York Stock Exchange US USD 02. Jun 2014
DB OM4 Common Shares Deutsche Boerse AG DE EUR 02. Jun 2014
LSE 0VBE Common Shares London Stock Exchange GB USD 02. Jun 2014
Number of employees
Current staff
Staff numbers
42
Osisko Gold Royalties employees.
Industry
Gold
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/23 00:28
End of day share price update: 2019/03/22 00:00
Last estimates confirmation: 2019/03/18
Last earnings filing: 2019/02/21
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.