Osisko Gold Royalties Ltd

DB:OM4 Stock Report

Market Cap: €3.6b

Osisko Gold Royalties Valuation

Is OM4 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of OM4 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: OM4 (€18.91) is trading above our estimate of fair value (€18.76)

Significantly Below Fair Value: OM4 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for OM4?

Key metric: As OM4 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for OM4. This is calculated by dividing OM4's market cap by their current revenue.
What is OM4's PS Ratio?
PS Ratio21.2x
SalesCA$248.02m
Market CapCA$5.25b

Price to Sales Ratio vs Peers

How does OM4's PS Ratio compare to its peers?

The above table shows the PS ratio for OM4 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.6x
NDA Aurubis
0.2x4.2%€3.4b
TKA thyssenkrupp
0.07x0.3%€2.4b
WCH Wacker Chemie
0.6x5.2%€3.5b
FPE3 Fuchs
1.6x3.6%€5.1b
OM4 Osisko Gold Royalties
21.2x21.7%€5.2b

Price-To-Sales vs Peers: OM4 is expensive based on its Price-To-Sales Ratio (21.2x) compared to the peer average (0.6x).

Price to Sales Ratio vs Industry

How does OM4's PS Ratio compare vs other companies in the European Metals and Mining Industry?

35 CompaniesPrice / SalesEstimated GrowthMarket Cap
OM4 21.2xIndustry Avg. 0.7xNo. of Companies35PS00.81.62.43.24+
35 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: OM4 is expensive based on its Price-To-Sales Ratio (21.2x) compared to the European Metals and Mining industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is OM4's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

OM4 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio21.2x
Fair PS Ratio7.7x

Price-To-Sales vs Fair Ratio: OM4 is expensive based on its Price-To-Sales Ratio (21.2x) compared to the estimated Fair Price-To-Sales Ratio (7.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst OM4 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€18.91
€21.92
+15.9%
6.2%€24.59€19.12n/a11
Nov ’25€18.36
€21.06
+14.7%
8.3%€23.96€17.97n/a11
Oct ’25€16.98
€19.38
+14.1%
8.0%€22.58€17.93n/a11
Sep ’25€15.43
€19.12
+23.9%
8.7%€22.49€17.20n/a11
Aug ’25€15.94
€19.34
+21.4%
9.0%€22.71€16.70n/a11
Jul ’25€14.24
€18.90
+32.7%
9.1%€22.55€16.40n/a12
Jun ’25€15.07
€18.56
+23.2%
9.3%€22.22€16.16n/a12
May ’25€14.72
€18.78
+27.6%
10.0%€22.57€15.73n/a12
Apr ’25€14.86
€17.61
+18.5%
8.2%€21.10€15.65n/a12
Mar ’25€13.36
€17.56
+31.4%
9.0%€21.25€15.76n/a12
Feb ’25€13.91
€17.73
+27.5%
7.7%€21.34€15.84n/a12
Jan ’25€12.86
€17.00
+32.2%
9.6%€20.36€14.25n/a12
Dec ’24€13.34
€16.63
+24.7%
10.2%€20.05€14.04n/a12
Nov ’24€11.47
€17.53
+52.9%
8.4%€20.63€15.13€18.3612
Oct ’24€11.13
€17.73
+59.3%
8.5%€20.40€14.96€16.9813
Sep ’24€12.19
€17.73
+45.5%
8.5%€20.40€14.96€15.4313
Aug ’24€13.11
€18.16
+38.5%
7.3%€20.56€15.08€15.9412
Jul ’24€13.70
€18.61
+35.8%
7.8%€20.84€15.28€14.2412
Jun ’24€15.04
€17.99
+19.6%
9.2%€20.40€14.96€15.0712
May ’24€14.64
€17.44
+19.1%
10.0%€20.06€14.71€14.7212
Apr ’24€14.19
€15.64
+10.3%
5.7%€17.34€14.28€14.8612
Mar ’24€12.49
€15.73
+26.0%
5.1%€17.32€14.55€13.3612
Feb ’24€12.37
€15.32
+23.8%
8.2%€17.13€12.33€13.9111
Jan ’24€11.23
€15.37
+36.9%
7.1%€17.30€13.49€12.8612
Dec ’23€12.03
€16.05
+33.4%
7.7%€18.17€14.17€13.3412
Nov ’23€10.87
€15.99
+47.2%
9.3%€18.44€13.65€11.4711

Analyst Forecast: Target price is less than 20% higher than the current share price.

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