TSX:OR

Stock Analysis Report

Osisko Gold Royalties

Executive Summary

Osisko Gold Royalties Ltd acquires and manages precious metal and other royalties, streams, and similar interests in Canada and internationally.

Snowflake

Fundamentals

Adequate balance sheet and fair value.

Share Price & News

How has Osisko Gold Royalties's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: OR's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

3.8%

OR

2.3%

CA Metals and Mining

0.2%

CA Market


1 Year Return

15.6%

OR

22.5%

CA Metals and Mining

7.4%

CA Market

Return vs Industry: OR underperformed the Canadian Metals and Mining industry which returned 22.5% over the past year.

Return vs Market: OR exceeded the Canadian Market which returned 7.4% over the past year.


Shareholder returns

ORIndustryMarket
7 Day3.8%2.3%0.2%
30 Day-3.3%4.8%2.9%
90 Day-30.2%-3.5%4.1%
1 Year17.3%15.6%23.5%22.5%11.0%7.4%
3 Year-4.0%-8.1%-0.2%-2.1%16.6%6.0%
5 Year-11.4%-16.6%21.5%17.5%28.4%9.6%

Price Volatility Vs. Market

How volatile is Osisko Gold Royalties's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Osisko Gold Royalties undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: OR (CA$11.84) is trading below our estimate of fair value (CA$29.32)

Significantly Below Fair Value: OR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: OR is unprofitable, so we can't compare its PE Ratio to the Metals and Mining industry average.

PE vs Market: OR is unprofitable, so we can't compare its PE Ratio to the Canadian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate OR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: OR is good value based on its PB Ratio (1.1x) compared to the CA Metals and Mining industry average (1.2x).


Next Steps

Future Growth

How is Osisko Gold Royalties forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

107.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: OR is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: OR is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: OR's is expected to become profitable in the next 3 years.

Revenue vs Market: OR's revenue is expected to decline over the next 3 years (-71.3% per year).

High Growth Revenue: OR's revenue is forecast to decline over the next 3 years (-71.3% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: OR's Return on Equity is forecast to be low in 3 years time (3.2%).


Next Steps

Past Performance

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

-63.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: OR has high quality earnings.

Growing Profit Margin: OR is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: OR is unprofitable, and losses have increased over the past 5 years at a rate of -63.9% per year.

Accelerating Growth: Unable to compare OR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: OR is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (-11.1%).


Return on Equity

High ROE: OR has a negative Return on Equity (-12.81%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Osisko Gold Royalties's financial position?


Financial Position Analysis

Short Term Liabilities: OR's short term assets (CA$169.1M) exceeds its short term liabilities (CA$18.2M)

Long Term Liabilities: OR's short term assets (CA$169.1M) do not cover its long term liabilities (423.8M)


Debt to Equity History and Analysis

Debt Level: OR's debt to equity ratio (23.1%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if OR's debt to equity ratio has reduced over the past 5 years.


Balance Sheet

Inventory Level: OR has a high level of physical assets or inventory.

Debt Coverage by Assets: OR's debt is not covered by short term assets (assets are 0.5x debt).


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.

Stable Cash Runway: Whilst unprofitable OR has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: OR is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 113.1% per year.


Next Steps

Dividend

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

1.69%

Current Dividend Yield


Upcoming Dividend Payment

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


Dividend Yield vs Market

company1.7%marketbottom25%2.0%markettop25%5.7%industryaverage1.1%forecastin3Years1.7%

Current dividend yield vs market & industry

Notable Dividend: OR's dividend (1.69%) isn’t notable compared to the bottom 25% of dividend payers in the Canadian market (2%).

High Dividend: OR's dividend (1.69%) is low compared to the top 25% of dividend payers in the Canadian market (5.73%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, OR has been paying a dividend for less than 10 years.

Growing Dividend: OR's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: OR is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: OR's dividends in 3 years are forecast to be well covered by earnings (48.4% payout ratio).


Next Steps

Management

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

5.1yrs

Average management tenure


CEO

Sean E. Roosen (56yo)

5.6yrs

Tenure

CA$2,306,566

Compensation

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 Res ...


CEO Compensation Analysis

Compensation vs Market: Sean E.'s total compensation ($USD1.73M) is about average for companies of similar size in the Canadian market ($USD2.20M).

Compensation vs Earnings: Sean E.'s compensation has been consistent with company performance over the past year.


Management Age and Tenure

5.1yrs

Average Tenure

53yo

Average Age

Experienced Management: OR's management team is seasoned and experienced (5.1 years average tenure).


Board Age and Tenure

5.6yrs

Average Tenure

56yo

Average Age

Experienced Board: OR's board of directors are considered experienced (5.6 years average tenure).


Insider Trading

Insider Buying: OR insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyCA$126,31830 Sep 19
Bryan Coates
EntityIndividual
Role
President
President
Shares10,000
Max PriceCA$12.63
SellCA$127,381,69918 Jul 19
Betelgeuse LLC
EntityCompany
Shares9,027,500
Max PriceCA$14.11
BuyCA$141,00015 Jul 19
Bryan Coates
EntityIndividual
Role
President
President
Shares10,000
Max PriceCA$14.10
SellCA$174,638,61528 Jun 19
Betelgeuse LLC
EntityCompany
Shares12,385,717
Max PriceCA$14.10
SellCA$10,046,07021 May 19
Betelgeuse LLC
EntityCompany
Shares663,819
Max PriceCA$15.13
SellCA$1,046,50028 Feb 19
André Gaumond
EntityIndividual
Shares70,000
Max PriceCA$14.95
SellCA$17,75424 Jan 19
John Burzynski
EntityIndividual
Role
Member of the Board of Directors
Non-Independent Director
Shares1,511
Max PriceCA$11.75

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Bryan Coates (61yo)

    President

    • Tenure: 5.6yrs
    • Compensation: CA$1.43m
  • André Le Bel (51yo)

    VP of Legal Affairs & Corporate Secretary

    • Tenure: 4.8yrs
    • Compensation: CA$1.04m
  • Sean E. Roosen (56yo)

    Chair of the Board & CEO

    • Tenure: 5.6yrs
    • Compensation: CA$2.31m
  • Luc Lessard (55yo)

    Senior Vice President of Technical Services

    • Tenure: 4.4yrs
    • Compensation: CA$915.25k
  • Elif Lévesque

    VP of Finance & CFO

    • Tenure: 5.6yrs
    • Compensation: CA$1.35m
  • Joseph de la Plante (33yo)

    Vice President of Corporate Development

    • Tenure: 5.4yrs
  • Frédéric Ruel (42yo)

    VP & Corporate Controller

    • Tenure: 3yrs
  • Michael Spencer

    Managing Director of Osisko Bermuda Limited

    • Tenure: 2.2yrs

Board Members

  • Joanne Ferstman (51yo)

    Independent Lead Director

    • Tenure: 5.6yrs
    • Compensation: CA$333.50k
  • Françoise Bertrand (70yo)

    Independent Director

    • Tenure: 5yrs
    • Compensation: CA$199.04k
  • Charlie Page (67yo)

    Independent Director

    • Tenure: 5.6yrs
    • Compensation: CA$206.64k
  • Pierre Labbé (54yo)

    Independent Director

    • Tenure: 4.8yrs
    • Compensation: CA$197.50k
  • Sean E. Roosen (56yo)

    Chair of the Board & CEO

    • Tenure: 5.6yrs
    • Compensation: CA$2.31m
  • Christopher Curfman (66yo)

    Independent Director

    • Tenure: 3.5yrs
    • Compensation: CA$194.01k
  • John Burzynski (55yo)

    Non-Independent Director

    • Tenure: 5.6yrs
    • Compensation: CA$180.01k

Company Information

Osisko Gold Royalties Ltd's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Osisko Gold Royalties Ltd
  • Ticker: OR
  • Exchange: TSX
  • Founded: 2014
  • Industry: Gold
  • Sector: Materials
  • Market Cap: CA$1.704b
  • Shares outstanding: 143.90m
  • Website: https://www.osiskogr.com

Number of Employees


Location

  • Osisko Gold Royalties Ltd
  • 1100, Avenue des Canadiens-de-Montréal
  • Suite 300
  • Montreal
  • Quebec
  • H3B 2S2
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ORTSX (The Toronto Stock Exchange)YesCommon SharesCACADJun 2014
OM4DB (Deutsche Boerse AG)YesCommon SharesDEEURJun 2014
ORNYSE (New York Stock Exchange)YesCommon SharesUSUSDJun 2014
0VBELSE (London Stock Exchange)YesCommon SharesGBUSDJun 2014

Biography

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 o ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/21 00:49
End of Day Share Price2019/11/20 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.