Declared Dividend • Aug 17
Second quarter dividend of US$0.065 announced Shareholders will receive a dividend of US$0.065. Ex-date: 30th September 2026 Payment date: 15th October 2026 Dividend yield will be 0.8%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (15% earnings payout ratio) but the company has 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 10 years. However, payments have been volatile during that time. EPS is expected to grow by 30% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Aug 07
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 26% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 07
Second quarter 2026 earnings released: EPS: US$0.33 (vs US$0.17 in 2Q 2025) Second quarter 2026 results: EPS: US$0.33 (up from US$0.17 in 2Q 2025). Revenue: US$97.8m (up 62% from 2Q 2025). Net income: US$61.4m (up 90% from 2Q 2025). Profit margin: 63% (up from 54% in 2Q 2025). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 08
OR Royalties Inc. to Report Q2, 2026 Results on Aug 05, 2026 OR Royalties Inc. announced that they will report Q2, 2026 results After-Market on Aug 05, 2026 Upcoming Dividend • Jun 25
Upcoming dividend of US$0.055 per share Eligible shareholders must have bought the stock before 30 June 2026. Payment date: 15 July 2026. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (1.5%). Board Change • May 20
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. 1 highly experienced director. Independent Director Pierre Labbe is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • 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 Duyuru • 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. Duyuru • Mar 04
OR Royalties Inc., Annual General Meeting, May 07, 2026 OR Royalties Inc., Annual General Meeting, May 07, 2026. Duyuru • 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. Duyuru • 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 Duyuru • 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. Duyuru • 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. Duyuru • 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 Duyuru • 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). Duyuru • 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 Duyuru • 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). Duyuru • 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 Duyuru • Feb 26
Osisko Gold Royalties Ltd, Annual General Meeting, May 08, 2025 Osisko Gold Royalties Ltd, Annual General Meeting, May 08, 2025. Duyuru • 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. Duyuru • 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. Duyuru • 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 Declared Dividend • Nov 11
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 1.1%, which is lower than the industry average of 4.8%. 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 27% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Duyuru • 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. Duyuru • 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 20
Upcoming dividend of CA$0.065 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 15 October 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.3%). Buy Or Sell Opportunity • Sep 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.8% to €14.67. The fair value is estimated to be €18.41, however this is not to be taken as a buy 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. 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 1.3%, which is lower than the industry average of 4.8%. 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. Duyuru • Aug 07
Osisko Gold Royalties Ltd Revises Operating Guidance for the Year 2024 Osisko Gold Royalties Ltd. revised operating guidance for the year 2024. On June 24, 2024, Victoria Gold Corp. (Victoria) announced a slope failure of its heap leach facility at the Eagle Gold mine and operations have been suspended. As a result, Osisko does not expect to receive any deliveries under its royalty rights for the second half of the year and, consequently, has revised its guidance for 2024 to a range of 77,000 to 83,000 GEOs (from 82,000 to 92,000 GEOs). The revised guidance also considers the slower ramp-up to 20,000 tonnes per day (tpd) capacity at the Mantos Blancos mine. Reported Earnings • Aug 07
Second quarter 2024 earnings released: CA$0.11 loss per share (vs CA$0.097 profit in 2Q 2023) 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 is forecast to grow 10% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe. 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 13% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Aug 06
Now 23% undervalued The stock has been flat over the last 90 days, currently trading at €14.27. The fair value is estimated to be €18.43, 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. Duyuru • 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 • Jun 10
Now 21% undervalued Over the last 90 days, the stock has risen 3.9% to €15.16. The fair value is estimated to be €19.17, 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. New Risk • May 16
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: €361k 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. This is currently the only risk that has been identified for the company. Recent Insider Transactions • May 16
Insider recently sold €361k worth of stock On the 13th of May, Michael Spencer sold around 24k shares on-market at roughly €14.92 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 €428k 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 1.3%, which is lower than the industry average of 4.8%. 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 1.6% growth forecast for the Metals and Mining industry in Europe. 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 9% per year, which means it is well ahead of earnings. Duyuru • 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. Duyuru • 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 German dividend payers (5.0%). Lower than average of industry peers (4.3%). Buy Or Sell Opportunity • Mar 01
Now 23% overvalued The stock has been flat over the last 90 days, currently trading at €13.36. The fair value is estimated to be €10.86, 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 became loss making. Duyuru • 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, while revenues in the Metals and Mining industry in Europe are expected to remain flat. 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 12% per year. Duyuru • 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). Duyuru • 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. Duyuru • 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). Duyuru • 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 Buying Opportunity • Jan 05
Now 20% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be €15.62, 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 has become profitable. For the next 3 years, revenue is forecast to grow by 7.2% per annum. Earnings is also forecast to grow by 18% per annum over the same time period. 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 German dividend payers (5.1%). Lower than average of industry peers (8.0%). Duyuru • 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). Reported Earnings • Nov 10
Third quarter 2023 earnings released: CA$0.11 loss per share (vs CA$0.47 profit in 3Q 2022) Third quarter 2023 results: CA$0.11 loss per share (down from CA$0.47 profit in 3Q 2022). Revenue: CA$62.1m (up 16% from 3Q 2022). Net loss: CA$20.0m (down 123% from profit in 3Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Duyuru • Oct 12
Osisko Gold Royalties Ltd to Report Q3, 2023 Results on Nov 08, 2023 Osisko Gold Royalties Ltd announced that they will report Q3, 2023 results After-Market on Nov 08, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of CA$0.06 per share at 1.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 16 October 2023. Payout ratio is a comfortable 28% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (8.5%). New Risk • Aug 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.9% 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. Duyuru • Aug 10
Osisko Gold Royalties Ltd Declares Third Quarter 2023 Dividend, Payable on October 16, 2023 Osisko Gold Royalties Ltd. announced a third quarter 2023 dividend of CAD 0.06 per common share. The dividend will be paid on October 16, 2023 to shareholders of record as of the close of business on September 29, 2023. Recent Insider Transactions • Jul 13
Independent Director recently bought €329k worth of stock On the 11th of July, Norman MacDonald bought around 25k shares on-market at roughly €13.17 per share. This transaction increased Norman's direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €423k more in shares than they have sold in the last 12 months. New Risk • Jul 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 11% 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. Duyuru • Jul 07
Osisko Gold Royalties Ltd to Report Q2, 2023 Results on Aug 09, 2023 Osisko Gold Royalties Ltd announced that they will report Q2, 2023 results After-Market on Aug 09, 2023 New Risk • Jul 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 38% 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. Board Change • Jul 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Norm MacDonald was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Jun 30
Osisko Gold Royalties Ltd. Completes Amendment to Its 75% Silver Stream Osisko Gold Royalties Ltd. announced that it has completed an amendment to its 75% silver stream with respect to the Gibraltar copper mine, located in British Columbia, Canada, which is operated by a wholly-owned subsidiary of Taseko Mines Limited. On March 15th, 2023, Taseko announced the completion of its acquisition of an additional 12.5% interest in Gibraltar from Sojitz Corporation giving Taseko an effective 87.5% interest. Osisko and Taseko have amended the Silver Stream to increase Osisko's effective stream percentage by 12.5% to 87.5%. Further to this, Osisko and Taseco have also extended the step-down silver delivery threshold to coincide with Taseko's recently updated mineral reserve estimate for Gibraltar. Osisko will provide total consideration of USD 10.25 million to Taseko plus CAD 50,000 per year for the following three years to help support ongoing ESG initiatives at Gibraltar. Upcoming Dividend • Jun 22
Upcoming dividend of CA$0.06 per share at 1.2% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 27% but the company is paying out more than the cash it is generating. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (8.6%). Duyuru • Jun 08
Osisko Gold Royalties Ltd. Appoints Norman Macdonald as Director Osisko Gold Royalties Ltd. at its annual meeting of shareholders held on June 7, 2023, approved appointment of Norman MacDonald as director. Recent Insider Transactions • May 19
Insider recently sold €50k worth of stock On the 15th of May, Michael Spencer sold around 3k shares on-market at roughly €16.01 per share. This transaction amounted to 3.8% 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 €339k more than they bought in the last 12 months. Buying Opportunity • May 17
Now 22% undervalued Over the last 90 days, the stock is up 28%. The fair value is estimated to be €19.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.9% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 8.0% per annum. Earnings is also forecast to grow by 0.5% per annum over the same time period. Duyuru • May 12
Osisko Gold Royalties Ltd Announces Charles E. Page Will Not Be Standing for Re-Election Osisko Gold Royalties Ltd. announced that Mr. Charles E. Page, who is nearing the end of his tenure as per the Corporation's policies, will not be standing for re-election. Reported Earnings • May 11
First quarter 2023 earnings released: EPS: CA$0.11 (vs CA$0.002 in 1Q 2022) First quarter 2023 results: EPS: CA$0.11 (up from CA$0.002 in 1Q 2022). Revenue: CA$59.6m (flat on 1Q 2022). Net income: CA$20.8m (up CA$20.5m from 1Q 2022). Profit margin: 35% (up from 0.5% in 1Q 2022). Revenue is forecast to grow 10% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Duyuru • May 11
Osisko Gold Royalties Ltd Declares Increase in Quarterly Dividend, Payable on July 14, 2023 Osisko Gold Royalties Ltd. announced a second quarter 2023 dividend of CAD 0.060 per common share, a 9.1% increase over the first quarterof 2023, for an annualized dividend of CAD 0.24 per share. The dividend will be paid on July 14, 2023 to shareholders of record as of the close of business on June 30, 2023. This dividend is an "eligible dividend" as defined in the Income Tax Act (Canada). Upcoming Dividend • Mar 23
Upcoming dividend of CA$0.055 per share at 1.1% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 14 April 2023. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (8.6%). Reported Earnings • Feb 26
Full year 2022 earnings released: EPS: CA$0.83 (vs CA$0.66 in FY 2021) Full year 2022 results: EPS: CA$0.83 (up from CA$0.66 in FY 2021). Revenue: CA$217.8m (down 3.1% from FY 2021). Net income: CA$149.7m (up 36% from FY 2021). Profit margin: 69% (up from 49% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 1.4% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 11
Osisko Gold Royalties Ltd to Report Q4, 2022 Results on Feb 23, 2023 Osisko Gold Royalties Ltd announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 23, 2023 Upcoming Dividend • Dec 22
Upcoming dividend of CA$0.055 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 16 January 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (8.5%). Board Change • Nov 16
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Rob Krcmarov was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Third quarter 2022 earnings released: CA$0.86 loss per share (vs CA$0.011 profit in 3Q 2021) Third quarter 2022 results: CA$0.86 loss per share. Revenue: CA$53.7m (up 7.2% from 3Q 2021). Net income: CA$86.0m (up CA$84.2m from 3Q 2021). Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 3.2% decline forecast for the Metals and Mining industry in Europe. Upcoming Dividend • Sep 21
Upcoming dividend of CA$0.055 per share Eligible shareholders must have bought the stock before 28 September 2022. Payment date: 14 October 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (10%). Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: CA$0.09 (vs CA$0.088 loss in 2Q 2021) Second quarter 2022 results: EPS: CA$0.09 (up from CA$0.088 loss in 2Q 2021). Revenue: CA$64.0m (up 12% from 2Q 2021). Net income: CA$17.2m (up CA$31.9m from 2Q 2021). Profit margin: 27% (up from net loss in 2Q 2021). Over the next year, revenue is forecast to grow 3.9%, compared to a 20% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Buying Opportunity • Jul 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be €11.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 31% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Jul 02
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be €11.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 31% over the last 3 years. Meanwhile, the company became loss making. Recent Insider Transactions • Jun 24
Independent Director recently sold €302k worth of stock On the 21st of June, Charles Page sold around 28k shares on-market at roughly €10.68 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €406k more than they bought in the last 12 months. Upcoming Dividend • Jun 22
Upcoming dividend of CA$0.055 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 15 July 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.4%). Lower than average of industry peers (8.3%). Board Change • Jun 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Edie Hofmeister was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • May 14
Osisko Gold Royalties Ltd Approves Election of Edie Hofmeister as Director Osisko Gold Royalties Ltd. approved election of Edie Hofmeister as director at the Annual General Meeting held on May 12, 2022. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: CA$0.002 (vs CA$0.064 in 1Q 2021) First quarter 2022 results: EPS: CA$0.002 (down from CA$0.064 in 1Q 2021). Revenue: CA$59.4m (down 11% from 1Q 2021). Net income: CA$326.0k (down 97% from 1Q 2021). Profit margin: 0.5% (down from 16% in 1Q 2021). Over the next year, revenue is forecast to grow 9.9%, compared to a 39% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Duyuru • May 13
Osisko Gold Royalties Ltd Declares Second Quarter 2022 Dividend, Payable on July 15, 2022 Osisko Gold Royalties Ltd. announced a second quarter 2022 dividend of CAD 0.055 per common share. The dividend will be paid on July 15, 2022 to shareholders of record as of the close of business on June 30, 2022. 
