OR Royalties Inc. OR
- Market cap
- $6.7B
- P/E
- 23.7×
Follow OR
Target Price Range
Analyst price targets
Free account| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 8.88 | 9.64 | 7.00 | 8.34 | 4.65 | 9.77 | 9.20 | 11.24 | 12.77 | 17.55 |
Analyst estimates 2026–2028 Powerpack |
Low Price
|
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| 14.74 | 14.39 | 12.10 | 13.43 | 13.31 | 15.12 | 14.57 | 17.96 | 21.29 | 42.25 |
High Price
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| 28 | 42 | 40 | 124 | 33 | 28 | 26 | 25 | 27 | 23 |
Employees
|
|||
| 2 | 4 | 9 | 2 | 5 | 6 | 6 | 7 | 7 | 12 |
Revenue/Emp
|
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| 47 | 164 | 378 | 296 | 159 | 179 | 168 | 183 | 191 | 277 |
Revenue
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|||
| 100.00% | 27.91% | 13.57% | 21.07% | 48.83% | 61.75% | 69.04% | 70.45% | 79.42% | 83.82% |
Gross Margin
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| 39 | (51) | (109) | (207) | 20 | (35) | 87 | (28) | 30 | 241 |
EBT
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| 82.29% | (30.92%) | (28.69%) | (69.94%) | 12.71% | (19.44%) | 51.94% | (15.08%) | 15.77% | 87.03% |
EBT Margin
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| 32 | (33) | (81) | (176) | 12 | (45) | 66 | (37) | 16 | 206 |
Net Income
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| 9 | 22 | 41 | 36 | 35 | 41 | 40 | 43 | 34 | 37 |
Depreciation
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| 0.45 | 1.29 | 2.42 | 1.96 | 0.98 | 1.07 | 0.93 | 0.99 | 1.03 | 1.48 |
Revenue/Sh
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| 0.30 | (0.25) | (0.52) | (1.17) | 0.08 | (0.11) | (0.51) | (0.19) | 0.09 | 1.10 |
Earnings/Sh
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| 0.39 | 0.29 | 0.40 | 0.46 | 0.50 | 0.51 | 0.47 | 0.75 | 0.86 | 1.31 |
Cash Flow/Sh
|
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| (0.06) | (0.01) | 0.02 | (0.03) | (0.33) | (0.90) | (0.57) | 0.00 | 0.00 | 0.00 |
Capex/Sh
|
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| 0.32 | 0.29 | 0.42 | 0.43 | 0.17 | (0.39) | (0.10) | 0.75 | 0.86 | 1.31 |
Free CF/Sh
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| 8.76 | 11.42 | 8.73 | 7.44 | 8.47 | 8.47 | 7.41 | 6.74 | 6.38 | 7.63 |
Book Value/Sh
|
|||
| 105 | 128 | 157 | 151 | 162 | 168 | 180 | 185 | 186 | 188 |
Shares
|
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| 33.17 | 0.00 | 0.00 | 0.00 | 181.14 | 0.00 | 0.00 | 0.00 | 201.11 | 32.17 |
PE Ratio
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| 22.00 | 8.98 | 3.63 | 4.96 | 12.90 | 11.44 | 13.19 | 14.22 | 17.64 | 23.96 |
PS Ratio
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| 1.14 | 1.01 | 1.01 | 1.31 | 1.50 | 1.45 | 1.65 | 2.09 | 2.84 | 4.64 |
PB Ratio
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| 14.73 | 9.59 | 3.98 | 5.53 | 13.35 | 12.76 | 13.46 | 14.70 | 17.83 | 23.58 |
EV/Sales
|
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| 20.52 | 43.09 | 22.70 | 25.40 | 79.32 | (34.82) | (29.57) | (120.40) | (3,846.69) | 77.13 |
EV/FCF
|
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| 40 | 38 | 63 | 69 | 81 | 85 | 85 | 138 | 160 | 246 |
Op' Cash Flow
|
|||
| (6) | (1) | 3 | (5) | (54) | (150) | (102) | — | — | — |
Capex
|
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| 34 | 37 | 66 | 64 | 27 | (66) | (18) | 138 | 160 | 246 |
FCF
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| 374 | 250 | 135 | 85 | 168 | (154) | 67 | 48 | 49 | 115 |
Working Cap'
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| 35 | 358 | 272 | 264 | 299 | 327 | 115 | 145 | 94 | — |
Total Debt
|
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| (344) | 101 | 130 | 167 | 70 | 235 | 45 | 88 | 35 | (142) |
Net Debt
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| 917 | 1,461 | 1,367 | 1,125 | 1,374 | 1,420 | 1,336 | 1,248 | 1,189 | 1,432 |
Sh' Equity
|
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| 3.32% | (2.18%) | (4.45%) | (11.06%) | 0.77% | (1.02%) | (5.33%) | (2.48%) | 1.14% | 14.00% |
ROA
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| 2.40% | (2.17%) | (3.66%) | (6.68%) | 1.35% | (1.36%) | 4.28% | 3.02% | 4.00% | 9.53% |
ROIC
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| 3.85% | (2.76%) | (5.76%) | (14.16%) | 1.01% | (1.34%) | (6.63%) | (2.90%) | 1.34% | 15.73% |
ROE
|
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OR Royalties Inc. peers in Gold
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| AUGO Aura Minerals Inc. | $7.0B | 23.3× | Compare |
| BTG B2Gold Corp | $7.0B | 9.0× | Compare |
| SSRM Silver Standard Resources Inc. | $7.3B | 30.8× | Compare |
| ARIS Aris Mining Corporation | $3.9B | 13.6× | Compare |
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| HMY Harmony Gold Mining Company Limited | $11.8B | 58.2× | Compare |
| FSM Fortuna Mining Corp. | $3.4B | 9.5× | Compare |
| EQX Equinox Gold Corp. | $13.7B | 11.5× | Compare |
| NG Novagold Resources Inc. | $3.2B | 0.0× | Compare |
OR Royalties Inc. (OR) key facts
- OR Royalties Inc. (OR) is a Gold company in the Basic Materials sector, listed on the New York Stock Exchange.
- OR Royalties Inc.’s revenue for fiscal 2025 (year ended December 2025) was CAD 277.4 million, up 45.1% from fiscal 2024.
- Net income was CAD 206.1 million, or CAD 1.10 per share (basic), a net margin of 74.3%.
- As of September 25, 2026, OR traded at $35.78, a market capitalization of $6.7 billion.
- At that price the stock trades at 23.7× trailing-twelve-month earnings and 18.5× sales.
- OR Royalties Inc. pays an annual dividend of $0.18 per share, a yield of 1.10%, with a payout ratio of 50.6%.
- Return on equity was 15.7% and debt-to-equity 0.14.
OR Royalties Inc. (OR) Latest News
23 Sep
OR Royalties Inc. released asset updates across its producing, development and exploration portfolio. Cuiú Cuiú produced first gold on Sept. 10, 2026; ramp to commercial production expected in Q4 2026; OR holds a 1.0% NSR. Amulsar: first gold production imminent; ramp-up toward commercial production in H1 2027; ORI owns a gold stream of 3.34% of payable Au to ~82.3 koz (1.31% thereafter) and a silver stream of 49.22% to ~1.03 Moz (19.69% thereafter). CSA: ORI owns 100% Ag stream and a 3.0% Cu stream. Dalgaranga: 1.44% GR on Never Never; 1.08% GR on other tenements, including Melville (1.0% NSR). Bralorne: 1.7% NSR. Cariboo: 5.0% NSR. Windfall: 2.0-3.0% NSR; EIA pending; first production expected 2029. Hermosa/Taylor: 1.0% NSR on Zn/Pb. South Railroad: 100% Ag stream. San Antonio: 7.15% precious metals stream. White Pine North: 1.5% NSR on Cu; silver sliding-scale royalty (12.5% rising with Cu price to 100%). Eagle: 5% NSR. Exploration: Glenburgh 1.08% GR; Ritz 2.0% NSR; Woodjam 2.0% NSR; Shovelnose 2.0% NSR; Japan Gold alliance; OR to 2.0% from 1.5% after adding 0.5% royalty. Near-term production catalysts and expanded streams across multiple assets materially enhance cash-flow upside and portfolio quality.
Japan Gold Corp. formed a strategic alliance with Solidcore Resources plc to fund a US$25 million, 3-year exploration program across five target areas in Japan, with Solidcore earning up to 70% after a Pre-Feasibility Study and up to 80% after a Bankable Feasibility Study. In conjunction, Japan Gold closed private placements totaling US$10.5 million: Solidcore bought units for US$9.45 million and Equinox subscribed for US$1.07 million, with Equinox converting US$2.763 million of convertible debentures into 23.764 million shares, leaving Japan Gold debt-free. OR Royalties agreed to exercise a US$3 million royalty option, increasing its royalty on all Japan Gold properties from 1.5% to 2%. The alliance adds two Solidcore-nominated directors to Japan Gold’s board. Proceeds will fund the Pipeline Areas, expand drilling capacity and general working capital. Increases OR Royalties’ cash flow potential via a 0.5% uplift in royalties across all Japan Gold properties, supported by a sizable ongoing funding alliance that could meaningfully affect long-term royalty revenues.
26 Aug
Sailfish reports record Q2 2026 results for OR Royalties Inc. Record quarterly results signal strong performance likely to boost company trajectory and investor sentiment.
12 Aug
OR Royalties Inc. held its Q2 2026 earnings call. Q2 earnings call provides performance updates that moderately shift market views.
8 Aug
OR Royalties Inc. shared Q2 earnings call highlights covering financial results, production updates and outlook. Q2 earnings details typically drive moderate short-term moves in valuation and sentiment.
6 Aug
OR Royalties (TSX:OR) shares rose 8.9% after revenue surged from new royalty acquisitions. New royalty acquisitions produced revenue growth and an immediate 8.9% stock gain at OR Royalties.
OR Royalties raises its dividend and expands buybacks while assessing if the stock remains undervalued. Dividend hike and larger buybacks strengthen shareholder returns and may lift near-term stock sentiment.
OR Royalties Inc. released Q2 2026 earnings results covering royalty revenues, production volumes, asset performance, and forward guidance. Quarterly earnings figures directly inform royalty income trends and valuation multiples for OR Royalties Inc.
5 Aug
OR Royalties Inc. reported 62% year-over-year growth in revenues and cash flows from operations for Q2 2026 while continuing share repurchases under its Normal Course Issuer Bid. Strong revenue growth combined with ongoing buybacks points to improved financial results that can materially lift stock performance.
29 Jul
OR Royalties Inc. reported its 2026 half-year results. Half-year results deliver key financial metrics that can moderately shift investor views and near-term performance.
8 Jul
OR Royalties Inc. released preliminary Q2 2026 gold equivalent ounce deliveries. Preliminary GEO deliveries offer a direct update on royalty revenue drivers that can shift near-term market views.
20 May
Kinterra Capital secured US$75 million to advance White Pine Copper project to final investment decision after pre-feasibility study progress and royalty framework update. US$75 million funding plus royalty framework update accelerate White Pine Copper development and support higher long-term royalty revenue potential for OR.
Kinterra Capital secured US$75 million to advance the White Pine Copper project to final investment decision following pre-feasibility study progress and royalty framework update involving OR Royalties Inc. Funding advance of White Pine Copper project to FID after royalty framework update supports potential future revenue growth for OR Royalties.
14 May
OR Royalties Inc. (OR) released Q1 earnings call highlights covering financial performance, operational updates, and forward guidance. Q1 earnings call highlights disclose financial results and outlook that could significantly sway investor sentiment and stock trajectory.
OR Royalties Inc. (OR) reported Q1 adjusted EPS that beat analyst expectations. Q1 adjusted EPS beat indicates solid financial performance with moderate positive influence on market sentiment and trajectory.
7 May
OR Royalties Inc. (TSX:OR) reported record earnings and raised its dividend by 18%, prompting a valuation review highlighting strong financial performance and growth potential. Record earnings and 18% dividend hike demonstrate robust financial health, likely boosting investor sentiment and stock performance significantly.
6 May
OR Royalties Inc. (OR) Q1 adjusted earnings more than doubled, and the company announced an 18% dividend hike. Doubling of Q1 adjusted earnings and 18% dividend increase demonstrate robust financial performance likely to enhance stock valuation and attract investors.
OR Royalties Inc. (OR) declares an 18% increase to its quarterly dividend. An 18% dividend hike signals strong cash flows from royalties and positively influences investor sentiment and stock performance.
OR Royalties Inc. reported a 56% year-over-year increase in cash flows from operations for Q1 2026. A 56% YoY surge in Q1 2026 cash flows from operations indicates robust financial performance likely to boost investor sentiment and future growth trajectory.
30 Apr
OR Royalties Inc. sold its stake in Osisko Metals for US$34.8 million. Sale generates US$34.8 million cash, strengthening balance sheet and enabling future investments.
OR Royalties provides portfolio update highlighting positive developments at Island Gold, Dalgaranga, Glenburgh, Eagle, and other assets; announces strategic sale of Osisko Metals position. Positive operational updates across multiple key royalty assets combined with strategic divestiture signal enhanced revenue prospects and portfolio optimization.
21 Apr
OR Royalties Inc. (OR) acquires precious metals stream on Canadian Copper’s New Brunswick assets. Acquiring a new precious metals stream expands OR's portfolio and boosts long-term revenue from copper operations.
19 Apr
L'Oréal backs Hanni, a premium clean beauty brand under OR Royalties Inc., to capitalize on surging market growth potential. L'Oréal's backing of Hanni enhances growth prospects for a key royalty asset of OR Royalties, significantly impacting revenue trajectory.
17 Apr
OR Royalties Inc. (OR) announces Bathurst Stream Deal, securing Canadian growth opportunities and significant valuation upside. Bathurst Stream Deal represents a major strategic expansion into Canada, boosting growth and valuation potential.
15 Apr
Canadian Copper secured $70 million in funding to advance its Bathurst development project, advancing production and generating royalties for OR Royalties Inc. $70m funding de-risks and accelerates Bathurst project development, significantly enhancing OR Royalties' future revenue stream from royalties.
14 Apr
OR Royalties Inc. (OR) shares rose 1% in US premarket trading after acquiring a precious metals stream on Canadian Copper's assets in New Brunswick. Acquiring a precious metals stream adds new revenue-generating assets to OR Royalties' portfolio from Canadian Copper's New Brunswick operations.
OR Royalties Inc. announces acquisition of a precious metals stream on Canadian Copper’s New Brunswick assets. Acquiring a new precious metals stream expands OR Royalties' portfolio and enhances long-term revenue potential.
Canadian Copper Inc. announces up to $96M in project development capital, deepens strategic partnership with Ocean Partners, and welcomes OR Royalties Inc. as new partner. OR Royalties Inc. enters as new partner in Canadian Copper's $96M-funded project, marking a major strategic expansion of its royalty assets.
10 Apr
Sailfish closed the sale of its Spring Valley and Moonlight royalties to OR Royalties Inc. for US$168 million in cash. OR Royalties' US$168 million acquisition of Spring Valley and Moonlight royalties fundamentally expands its portfolio and long-term revenue prospects.
RBC Capital Markets outlines OR Royalties Inc.'s supportive position on mining sector consolidation, which benefits royalty holders, and its active share buyback program amid favorable market conditions. OR Royalties' positive stance on sector consolidation and buybacks signals strategic optimism but lacks concrete new actions to drive major shifts.