Buy Or Sell Opportunity • May 26
Now 20% overvalued Over the last 90 days, the stock has fallen 19% to US$36.91. The fair value is estimated to be US$30.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 57%. Revenue is forecast to grow by 59% in 2 years. Earnings are forecast to grow by 45% in the next 2 years. Declared Dividend • May 11
First quarter dividend of US$0.065 announced Shareholders will receive a dividend of US$0.065. Ex-date: 30th June 2026 Payment date: 15th July 2026 Dividend yield will be 0.6%, which is lower than the industry average of 2.7%. Payout Ratios Payout ratio: 16%. Cash payout ratio: 35%. Reported Earnings • May 07
First quarter 2026 earnings released: EPS: US$0.39 (vs US$0.14 in 1Q 2025) First quarter 2026 results: EPS: US$0.39 (up from US$0.14 in 1Q 2025). Revenue: US$102.8m (up 87% from 1Q 2025). Net income: US$73.6m (up 187% from 1Q 2025). Profit margin: 72% (up from 47% in 1Q 2025). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 06
Now 28% overvalued The stock has been flat over the last 90 days, currently trading at US$38.74. The fair value is estimated to be US$30.34, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 19%. Announcement • Apr 08
OR Royalties Inc. to Report Q1, 2026 Results on May 06, 2026 OR Royalties Inc. announced that they will report Q1, 2026 results After-Market on May 06, 2026 Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$40.27, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 11x in the Metals and Mining industry in the US. Total returns to shareholders of 150% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$58.56 per share. Upcoming Dividend • Mar 24
Upcoming dividend of US$0.055 per share Eligible shareholders must have bought the stock before 31 March 2026. Payment date: 15 April 2026. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (1.7%). Announcement • Mar 23
OR Royalties Appoints Patrick Godin to Its Board of Directors OR Royalties Inc. announced the appointment of Mr. Patrick Godin as an Independent Director to its Board of Directors (the “Board”).Mr. Godin has over 35 years of corporate, technical, and operations experience in the mining industry. Most recently, he served as President and CEO of New Gold Inc. (“New Gold”), where he held the leadership role from November 2022 up until New Gold’s USD 7.0 billion acquisition by Coeur Mining Inc., which was announced in November 2025. Before joining New Gold, Mr. Godin was Vice President and Chief Operating Officer of Pretivm Resources Inc., where he was responsible for the operations of the Brucejack Mine. Previously, he was the President and Chief Executive Officer of Stornoway Diamond Corporation, having also served as its Chief Operating Officer and Vice President from 2010 to 2018. During his time at Stornoway, he was responsible for the construction and operations of the Renard Diamond Mine in Québec. Earlier in his career, he served as the Vice President, Project Development for G Mining Services and held executive or senior operations positions for Canadian Royalties, IAMGOLD, and Cambior in the Americas. Mr. Godin holds a Bachelor of Engineering degree in Mining from Laval University in Québec, Canada, and has been a Chartered Director since 2010. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$34.60, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 11x in the Metals and Mining industry in the US. Total returns to shareholders of 138% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$58.71 per share. Price Target Changed • Mar 15
Price target increased by 7.8% to US$51.75 Up from US$48.00, the current price target is an average from 8 analysts. New target price is 28% above last closing price of US$40.33. Stock is up 104% over the past year. The company is forecast to post earnings per share of US$1.55 for next year compared to US$1.10 last year. Announcement • Mar 04
OR Royalties Inc., Annual General Meeting, May 07, 2026 OR Royalties Inc., Annual General Meeting, May 07, 2026. New Risk • Mar 01
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$735k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Significant insider selling over the past 3 months (US$735k sold). New Risk • Feb 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 32% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Declared Dividend • Feb 22
Fourth quarter dividend of US$0.055 announced Shareholders will receive a dividend of US$0.055. Ex-date: 31st March 2026 Payment date: 15th April 2026 Dividend yield will be 0.5%, which is lower than the industry average of 2.7%. Payout Ratios Payout ratio: 19%. Cash payout ratio: 20%. Reported Earnings • Feb 20
Full year 2025 earnings released: EPS: US$1.10 (vs US$0.087 in FY 2024) Full year 2025 results: EPS: US$1.10 (up from US$0.087 in FY 2024). Revenue: US$277.4m (up 45% from FY 2024). Net income: US$206.1m (up US$189.8m from FY 2024). Profit margin: 74% (up from 8.5% in FY 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Feb 08
Price target increased by 7.4% to US$47.00 Up from US$43.75, the current price target is an average from 9 analysts. New target price is 17% above last closing price of US$40.03. Stock is up 102% over the past year. The company is forecast to post earnings per share of US$1.04 for next year compared to US$0.087 last year. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$38.67, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 14x in the Metals and Mining industry in the US. Total returns to shareholders of 215% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$46.44 per share. Announcement • Jan 30
OR Royalties Inc. Announces Directorate Changes OR Royalties Inc. announced the appointment of Kevin Thomson as an Independent Director to its Board of Directors. Concurrently, the Company announces that William Murray John has resigned as a director of the Company, effective January 30, 2026. Mr. Kevin Thomson brings over 40 years of senior strategic mergers and acquisitions experience in the mining industry. Most recently, Mr. Thomson served as Senior Executive Vice President, Strategic Matters for Barrick Gold Corporation ("Barrick") where he was involved in all matters of strategic significance, including the management of complex negotiations, development of Barrick’s corporate strategy, involvement in complex legal issues, and governance-related matters. Prior to joining Barrick in 2014, Mr. Thomson was a senior partner at Davies Ward Phillips & Vineberg LLP ("Davies Ward"), and was one of Canada's leading mergers and acquisitions lawyers where he advised many of Canada's largest and most successful public companies on a number of industry leading transactions and also was a key strategic and legal advisor to a number of the country's leading private enterprises. Mr. Thomson is one of Canada’s most distinguished securities lawyers, and prior to joining Barrick, worked closely with Barrick’s management team and its Board of Directors as a Key Strategic Advisor since 1995, In addition, he was also the longest standing member of the committee responsible for managing the Davies Ward firm. Mr. Thomson received a B.A. (with Distinction) in History from Queen’s University in 1979 and an LL.B. from Queen’s University Law School in 1982. Mr. William Murray John was appointed to the Board as an independent board member in February 2020. During this time, Mr. John served on the Governance, Nomination and Sustainability Committee, and also played a vital role on OR Royalties’ Independent Investment Review Committee. The Company thanks Mr. John for his many valuable contributions during his time on the Board and wishes him success in his future endeavors. Price Target Changed • Jan 20
Price target increased by 7.4% to US$43.75 Up from US$40.75, the current price target is an average from 8 analysts. New target price is 6.2% above last closing price of US$41.20. Stock is up 116% over the past year. The company is forecast to post earnings per share of US$1.03 for next year compared to US$0.087 last year. Announcement • Jan 07
OR Royalties Inc. to Report Q4, 2025 Results on Feb 18, 2026 OR Royalties Inc. announced that they will report Q4, 2025 results After-Market on Feb 18, 2026 Upcoming Dividend • Dec 24
Upcoming dividend of US$0.055 per share Eligible shareholders must have bought the stock before 31 December 2025. Payment date: 15 January 2026. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (1.5%). Announcement • Dec 17
OR Royalties Inc. Announces Results of Lithium-Only Cv5 Feasibility Study At Its Wholly Owned Shaakichiuwaanaan Property Located in the Eeyou Istchee James Bay Region of Quebec, Canada OR Royalties Inc. provided the following select asset updates. In addition, Ramelius released some early scoping-study level results from its Gilbeys Underground target, which could provide supplemental gold production over-and- above what was outlined in the Never Never PFS. On December 12, 2025, SolGold plc ("SolGold") announced that Jiangxi Copper Company Limited ("JCC") had made a revised non-binding indicative cash offer for the entire issued and to be issued share capital of SolGold, other than the shares already owned by JCC (the "Revised Possible Offer") at a price of 28 pence in cash per SolGold share (the "Revised Possible offer Price"). On November 12, 2025, Gold Fields Ltd. ("Gold Fields") provided updates on the Windfall gold project, including updated project capex and expected "Base Case" and "Upside Case" milestone timelines, as part of the company's Capital Markets Day hosted in London, UK. Next steps over the following 12-18 months for Aldebaran include a Mineral Resource Estimate update (based on the infill drilling completed in 2024-2025 and the to-be-com completed 2025-2026 infill drilling for the purposes of Mineral Resource conversion), completion of the Altar PFS, and preparation to apply for inclusion under Argentina's RIGI investment framework. On October 20, 2025, PMET Resources Inc. ("PMET") announced the results of lithium-only CV5 Feasibility Study at its wholly owned Shaakichiuwaanaan Property ("Shaakichiuwaanaan") located in the Eeyou Istchee James Bay region of Quebec, Canada.uWEST (operated by TDG Gold Corp.) On October 15, 2025, TDG Gold Corp. ("TDG") reported additional assay results from its fully-funded Phase I exploratory drilling program at the Aurora West target within TDG's Greater Shasta-Newberry ("GSN") project. The ongoing Phase I exploratory program now involves three drill rigs on the company's 100% owned GSN Project in the Toodoggone District of British Columbia. Zone 126 is emerging as a multi-lens, high-grade gold system, where drilling has validated a new NE-plunging fold model controlling mineralization. This result marks the highest-grade intercept recorded in Lens 4 to date and provides substantial validation of Benz's structural model at depth. These recent drill results continue to reinforce the strong continuity of high-grade mineralization along plunge and highlight the significant opportunity to keep growing this lens into a material high-grade ore shoot. Buy Or Sell Opportunity • Dec 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.3% to US$34.71. The fair value is estimated to be US$44.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 19% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Buy Or Sell Opportunity • Nov 28
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 8.5% to US$34.90. The fair value is estimated to be US$28.57, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 55% in 2 years. Earnings are forecast to grow by 83% in the next 2 years. Declared Dividend • Nov 09
Third quarter dividend of US$0.055 announced Shareholders will receive a dividend of US$0.055. Ex-date: 31st December 2025 Payment date: 15th January 2026 Dividend yield will be 0.7%, which is lower than the industry average of 2.7%. Payout Ratios Payout ratio: 24%. Cash payout ratio: 37%. New Risk • Nov 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 95% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Announcement • Nov 07
OR Royalties Approves Dividend for the Fourth Quarter of 2025, Payable on January 15, 2026 OR Royalties Inc. announced that the Board of Directors has approved a fourth quarter 2025 dividend of USD 0.055 per common share. The dividend will be paid on January 15, 2026 to shareholders of record as of the close of business on December 31, 2025. Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: US$0.44 (vs US$0.073 in 3Q 2024) Third quarter 2025 results: EPS: US$0.44 (up from US$0.073 in 3Q 2024). Revenue: US$71.6m (up 69% from 3Q 2024). Net income: US$82.8m (up US$69.3m from 3Q 2024). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Price Target Changed • Oct 30
Price target decreased by 11% to US$41.00 Down from US$46.05, the current price target is an average from 8 analysts. New target price is 26% above last closing price of US$32.60. Stock is up 62% over the past year. The company posted earnings per share of US$0.087 last year. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$31.70, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 12x in the Metals and Mining industry in the US. Total returns to shareholders of 205% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$40.45 per share. Buy Or Sell Opportunity • Oct 27
Now 22% undervalued Over the last 90 days, the stock has risen 14% to US$31.70. The fair value is estimated to be US$40.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 23% per annum over the same time period. Announcement • Oct 07
OR Royalties Inc. to Report Q3, 2025 Results on Nov 05, 2025 OR Royalties Inc. announced that they will report Q3, 2025 results After-Market on Nov 05, 2025 Upcoming Dividend • Sep 23
Upcoming dividend of US$0.055 per share Eligible shareholders must have bought the stock before 30 September 2025. Payment date: 15 October 2025. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of American dividend payers (4.5%). Lower than average of industry peers (1.6%). Declared Dividend • Aug 08
Second quarter dividend of US$0.055 announced Shareholders will receive a dividend of US$0.055. Ex-date: 30th September 2025 Payment date: 15th October 2025 Dividend yield will be 0.7%, which is lower than the industry average of 2.7%. Payout Ratios Payout ratio: 45%. Cash payout ratio: 40%. Reported Earnings • Aug 06
Second quarter 2025 earnings released Second quarter 2025 results: Net income: (up US$21.1m from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 131 percentage points per year, which is a significant difference in performance. New Risk • Aug 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 7.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Announcement • Aug 06
OR Royalties Declares Third Quarter Dividend for 2025, Payable on October 15, 2025 OR Royalties Inc. announced that the Board of Directors has approved a third quarter 2025 dividend of USD 0.055 per common share. The dividend will be paid on October 15, 2025 to shareholders of record as of the close of business on September 30, 2025. This dividend is an "eligible dividend" as defined in the Income Tax Act (Canada). Announcement • Jul 07
OR Royalties Inc. to Report Q2, 2025 Results on Aug 05, 2025 OR Royalties Inc. announced that they will report Q2, 2025 results After-Market on Aug 05, 2025 Buy Or Sell Opportunity • Jul 05
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 31% to US$26.03. The fair value is estimated to be US$21.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to by 0 per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Upcoming Dividend • Jun 23
Upcoming dividend of US$0.055 per share Eligible shareholders must have bought the stock before 30 June 2025. Payment date: 15 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 0.7%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (1.9%). Recent Insider Transactions • May 19
CFO & VP of Finance recently sold US$349k worth of stock On the 16th of May, Frederic Ruel sold around 15k shares on-market at roughly US$23.23 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Frederic's only on-market trade for the last 12 months. Declared Dividend • May 12
First quarter dividend of CA$0.055 announced Shareholders will receive a dividend of CA$0.055. Ex-date: 30th June 2025 Payment date: 15th July 2025 Dividend yield will be 0.8%, which is lower than the industry average of 2.7%. Payout Ratios Payout ratio: 108%. Cash payout ratio: 37%. Reported Earnings • May 09
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: US$0.14 (up from US$0.081 in 1Q 2024). Revenue: US$54.9m (down 9.6% from 1Q 2024). Net income: US$25.6m (up 70% from 1Q 2024). Profit margin: 47% (up from 25% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Announcement • May 08
Osisko Gold Royalties Ltd Increases Second Quarter 2025 Dividend, Payable on July 15, 2025 Osisko Gold Royalties Ltd. announced that the Board of Directors has approved a second quarter 2025 dividend of USD 0.055 per common share, a 20% increase over the previous quarterly dividend, based on the foreign exchange rate (C$/US$) on the declaration date of the first quarter dividend. The dividend will be paid on July 15, 2025 to shareholders of record as of the close of business on June 30, 2025. This dividend is an "eligible dividend" as defined in the Income Tax Act (Canada). Announcement • Apr 09
Osisko Gold Royalties Ltd to Report Q1, 2025 Results on May 07, 2025 Osisko Gold Royalties Ltd announced that they will report Q1, 2025 results After-Market on May 07, 2025 Upcoming Dividend • Mar 24
Upcoming dividend of CA$0.065 per share Eligible shareholders must have bought the stock before 31 March 2025. Payment date: 15 April 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 0.9%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (2.0%). Buy Or Sell Opportunity • Mar 16
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 4.1% to US$19.75. The fair value is estimated to be US$16.45, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 9.2% per annum. Earnings are also forecast to grow by 25% per annum over the same time period. Recent Insider Transactions • Mar 05
Insider recently sold US$213k worth of stock On the 27th of February, Paul Martin sold around 12k shares on-market at roughly US$17.79 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$259k more than they bought in the last 12 months. Announcement • Feb 26
Osisko Gold Royalties Ltd, Annual General Meeting, May 08, 2025 Osisko Gold Royalties Ltd, Annual General Meeting, May 08, 2025. New Risk • Feb 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Declared Dividend • Feb 23
Fourth quarter dividend of CA$0.065 announced Shareholders will receive a dividend of CA$0.065. Ex-date: 31st March 2025 Payment date: 15th April 2025 Dividend yield will be 1.1%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (39% cash payout ratio). The dividend has increased by an average of 6.8% per year over the past 10 years. However, payments have been volatile during that time. Announcement • Feb 21
Osisko Gold Royalties Ltd Provides Production Guidance for the Year 2025 Osisko Gold Royalties Ltd. provided production guidance for the year 2025. The company expects gold equivalent ounces earned to range between 80,000-88,000 in 2025 at an average cash margin of approximately 97%. For the 2025 guidance, deliveries of silver, copper, and cash royalties have been converted to GEOs using commodity prices based on consensus prices and a gold/silver price ratio of 83:1. Reported Earnings • Feb 20
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: US$0.09 (up from US$0.20 loss in FY 2023). Revenue: US$191.2m (up 2.4% from FY 2023). Net income: US$16.3m (up US$52.8m from FY 2023). Profit margin: 8.5% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. Revenue missed analyst estimates by 24%. Earnings per share (EPS) also missed analyst estimates by 59%. Revenue is expected to decline by 2.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in the US are expected to grow by 4.7%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Announcement • Feb 20
Osisko Gold Royalties Ltd Declares Dividend for the First Quarter 2025, Payable on April 15, 2025 Osisko Gold Royalties Ltd. announced that the Board of Directors has approved a first quarter 2025 dividend of CAD 0.065 per common share. The dividend will be paid on April 15, 2025 to shareholders of record as of the close of business on March 31, 2025. Announcement • Jan 07
Osisko Gold Royalties Ltd to Report Q4, 2024 Results on Feb 19, 2025 Osisko Gold Royalties Ltd announced that they will report Q4, 2024 results After-Market on Feb 19, 2025 Upcoming Dividend • Dec 24
Upcoming dividend of CA$0.065 per share Eligible shareholders must have bought the stock before 31 December 2024. Payment date: 15 January 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.0%. Lower than top quartile of American dividend payers (4.5%). Lower than average of industry peers (2.2%). Buy Or Sell Opportunity • Dec 16
Now 20% undervalued Over the last 90 days, the stock has risen 5.7% to US$18.97. The fair value is estimated to be US$23.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Meanwhile, the company became loss making. Declared Dividend • Nov 10
Third quarter dividend of CA$0.065 announced Shareholders will receive a dividend of CA$0.065. Ex-date: 31st December 2024 Payment date: 15th January 2025 Dividend yield will be 1.0%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (36% cash payout ratio). The dividend has increased by an average of 8.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Nov 07
Third quarter 2024 earnings released: EPS: CA$0.10 (vs CA$0.11 loss in 3Q 2023) Third quarter 2024 results: EPS: CA$0.10 (up from CA$0.11 loss in 3Q 2023). Revenue: CA$57.3m (down 7.8% from 3Q 2023). Net income: CA$18.3m (up CA$38.3m from 3Q 2023). Profit margin: 32% (up from net loss in 3Q 2023). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Announcement • Nov 07
Osisko Gold Royalties Ltd Declares Fourth Quarter 2024 Dividend, Payable on January 15, 2025 Osisko Gold Royalties Ltd. announced that the Board of Directors has approved a fourth quarter 2024 dividend of CAD 0.065 per common share. The dividend will be paid on January 15, 2025 to shareholders of record as of the close of business on December 31, 2024. Buy Or Sell Opportunity • Oct 18
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to US$20.63. The fair value is estimated to be US$16.86, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Meanwhile, the company became loss making. Announcement • Oct 09
Osisko Gold Royalties Ltd to Report Q3, 2024 Results on Nov 06, 2024 Osisko Gold Royalties Ltd announced that they will report Q3, 2024 results After-Market on Nov 06, 2024 Upcoming Dividend • Sep 23
Upcoming dividend of CA$0.065 per share Eligible shareholders must have bought the stock before 30 September 2024. Payment date: 15 October 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.0%. Lower than top quartile of American dividend payers (4.3%). Lower than average of industry peers (1.8%). Declared Dividend • Aug 09
Second quarter dividend of CA$0.065 announced Shareholders will receive a dividend of CA$0.065. Ex-date: 30th September 2024 Payment date: 15th October 2024 Dividend yield will be 1.2%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (41% cash payout ratio). The dividend has increased by an average of 8.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Aug 07
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: CA$0.11 loss per share (down from CA$0.097 profit in 2Q 2023). Revenue: CA$64.8m (up 7.2% from 2Q 2023). Net loss: CA$21.1m (down 218% from profit in 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Aug 07
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: CA$0.11 loss per share (down from CA$0.097 profit in 2Q 2023). Revenue: CA$64.8m (up 7.2% from 2Q 2023). Net loss: CA$21.1m (down 218% from profit in 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Jul 09
Osisko Gold Royalties Ltd to Report Q2, 2024 Results on Aug 06, 2024 Osisko Gold Royalties Ltd announced that they will report Q2, 2024 results After-Market on Aug 06, 2024 Buy Or Sell Opportunity • Jul 01
Now 29% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.7% to US$15.47. The fair value is estimated to be US$21.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jun 24
Now 24% undervalued The stock has been flat over the last 90 days, currently trading at US$15.57. The fair value is estimated to be US$20.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Recent Insider Transactions • May 16
Insider recently sold US$390k worth of stock On the 13th of May, Michael Spencer sold around 24k shares on-market at roughly US$16.11 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$480k more than they sold in the last 12 months. Declared Dividend • May 12
First quarter dividend of CA$0.065 announced Shareholders will receive a dividend of CA$0.065. Ex-date: 28th June 2024 Payment date: 15th July 2024 Dividend yield will be 1.2%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.0% per year over the past 9 years and payments have been stable during that time. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: CA$0.08 (vs CA$0.11 in 1Q 2023) First quarter 2024 results: EPS: CA$0.08 (down from CA$0.11 in 1Q 2023). Revenue: CA$60.8m (up 2.0% from 1Q 2023). Net income: CA$15.1m (down 28% from 1Q 2023). Profit margin: 25% (down from 35% in 1Q 2023). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • May 09
Osisko Gold Royalties Ltd Declares Second Quarter 2024 Dividend, Payable on July 15, 2024 Osisko Gold Royalties Ltd. announced that the Board of Directors has approved a second quarter 2024 dividend of CAD 0.065 per common share, representing a roughly 8% increase over the previous quarterly dividend of CAD 0.06 per common share. This marks Osisko’s 39th consecutive quarterly dividend, which will be paid on July 15, 2024 toshareholders of record as of the close of business on June 28, 2024. This dividend is an "eligible dividend" asdefined in the Income Tax Act (Canada). Board Change • Apr 10
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Dave Smith was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 09
Osisko Gold Royalties Ltd to Report Q1, 2024 Results on May 08, 2024 Osisko Gold Royalties Ltd announced that they will report Q1, 2024 results After-Market on May 08, 2024 Upcoming Dividend • Mar 20
Upcoming dividend of CA$0.06 per share Eligible shareholders must have bought the stock before 27 March 2024. Payment date: 15 April 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (2.3%). Announcement • Feb 27
Osisko Gold Royalties Ltd, Annual General Meeting, May 09, 2024 Osisko Gold Royalties Ltd, Annual General Meeting, May 09, 2024. Reported Earnings • Feb 22
Full year 2023 earnings released: CA$0.26 loss per share (vs CA$0.83 profit in FY 2022) Full year 2023 results: CA$0.26 loss per share (down from CA$0.83 profit in FY 2022). Revenue: CA$247.3m (up 14% from FY 2022). Net loss: CA$48.3m (down 132% from profit in FY 2022). Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 7% per year. Announcement • Feb 21
Osisko Gold Royalties Ltd. Declares First Quarter 2024 Dividend, Payable on April 15, 2024 Osisko Gold Royalties Ltd. announced a first quarter 2024 dividend of CAD 0.06 per common share. The dividend will be paid on April 15, 2024 to shareholders of record as of the close of business on March 28, 2024. This dividend is an "eligible dividend" as defined in the Income Tax Act (Canada). Announcement • Feb 01
Osisko Gold Royalties Ltd Announces the Resignation of John R. Baird as Director Osisko Gold Royalties Ltd. announced that The Honourable Mr. John R. Baird has resigned as a director of the Corporation, effective immediately. Mr. Baird was appointed to the Board as an independent board member in April 2020. During this time, The Hon. Mr. Baird served as Chair of the Governance and Nomination Committee. Buy Or Sell Opportunity • Jan 29
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to US$14.35. The fair value is estimated to be US$11.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 250% in the next 2 years. Announcement • Jan 24
Osisko Gold Royalties Ltd Appoints David Smith to Its Board of Directors Osisko Gold Royalties Ltd. announced the appointment of Mr. David Smith to its Board of Directors. Most recently, Mr. Smith retired as Executive Vice-President, Finance and Chief Financial Officer of Agnico Eagle Mines Limited (“Agnico Eagle”) in May 2023, having held the position since 2012. He originally started with Agnico Eagle in 2005, at which time he formalized the company’s Investor Relations program. Prior to 2005, Mr. Smith was a mining analyst and has also held a variety of mining engineering positions in Canada and abroad. He is a Chartered Director and is currently the Chair of Canada Nickel Company’s Board of Directors. He is also a former Director of Three Valley Copper and eCobalt Solutions. He holds a B.Sc. (Queen’s University) and M.Sc. in Mining Engineering (University of Arizona). Announcement • Jan 09
Osisko Gold Royalties Ltd to Report Q4, 2023 Results on Feb 20, 2024 Osisko Gold Royalties Ltd announced that they will report Q4, 2023 results After-Market on Feb 20, 2024 Upcoming Dividend • Dec 21
Upcoming dividend of CA$0.06 per share at 1.2% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 15 January 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (4.5%). Lower than average of industry peers (2.5%). Announcement • Nov 21
Osisko Gold Royalties Ltd Announces Resignation of Sean Roosen as Director Osisko Gold Royalties Ltd. announced that Mr. Sean Roosen has resigned as a director of the Corporation in order to focus all of his time and attention on his role as Chief Executive Officer and Chair of the Board of Directors of Osisko Development Corp. New Risk • Nov 13
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 17% Last year net profit margin: 79% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (17% net profit margin).