OR Royalties
Acquires precious-metals royalties and streams linked to third-party mines.
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Profile
Acquires and manages precious-metals royalties, streams, and similar interests rather than operating mines. Its portfolio is anchored by the Canadian Malartic net-smelter-return royalty, while the Virginia Mines combination and Orion acquisition added further interests.
Acquires and manages precious-metals royalties, streams, and similar interests rather than operating mines. The portfolio is anchored by a net-smelter-return royalty on the Canadian Malartic Complex and includes interests associated with Éléonore and the Orion acquisition.
The business was assembled through its 2014 formation, the Virginia Mines combination, and the Orion portfolio acquisition. A 2020 spin-out separated mine-development properties from the royalty and streaming vehicle while preserving selected interests.
Portfolio income depends on production and operating performance at third-party mines and projects. The company remains a royalty-and-streaming business, not the operator or developer of the transferred properties.
Company facts
Key statistics
Year to date +6.2% · Average volume (30d) 1.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 14, 2026 | Scotiabank | Reiterate | Sector Perform | $51 | $42 | |
| Jul 9, 2026 | RBC Capital | Reiterate | Outperform | $45 | ||
| Jul 6, 2026 | Jefferies | Reiterate | Hold | $38 | $34 | |
| Jan 26, 2026 | Scotiabank | Reiterate | Sector Perform | $41 | $51 | |
| Dec 7, 2025 | Jefferies | Target | $19 | $38 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.31 | $0.32 | +3.2% | $97.9M | $97.8M | −0.1% | +4.81% |
| May 6, 2026Q1 FY26 | $0.34 | $0.40 | +17.6% | $103.3M | $102.8M | −0.4% | −3.25% |
| Feb 18, 2026Q4 FY25 | $0.31 | $0.32 | +3.2% | $90.8M | $90.5M | −0.4% | −3.68% |
| Nov 5, 2025Q3 FY25 | $0.19 | $0.22 | +15.8% | $71.1M | $51.4M | −27.8% | −0.67% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $38.6M | $44.3M | $71.6M | $91.8M | $101.4M | $97.8M | |
| Gross profit | $32.0M | $36.8M | $59.1M | $78.5M | $87.3M | $82.2M | |
| Operating income | $27.0M | $30.4M | $52.2M | $71.2M | $79.1M | $75.3M | |
| Net income | $18.0M | $23.8M | $82.8M | $66.2M | $72.6M | $61.4M | |
| Diluted EPS | $0.10 | $0.12 | $0.44 | $0.35 | $0.38 | $0.33 | |
| Gross margin | 83.0% | 83.1% | 82.5% | 85.5% | 86.1% | 84.0% | |
| Operating margin | 70.1% | 68.6% | 72.9% | 77.5% | 78.0% | 77.0% |
Fiscal years (4-quarter sums)FY21 $225.6M · FY22 $217.8M · FY23 $234.6M · FY24 $205.0M · FY25 $246.3M
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $75.6M · Total debt $219.3M · Total assets $1.86B · Shareholders' equity $1.48B
Dividends
Raised for 5 straight years — most recently to $0.065 from $0.055 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 15 | $0.065 | raised from $0.055 |
| Mar 31, 2026 | Mar 31 | Apr 15 | $0.055 | |
| Dec 31, 2025 | Dec 31 | Jan 15 | $0.055 | |
| Sep 30, 2025 | Sep 30 | Oct 15 | $0.055 | |
| Jun 30, 2025 | Jun 30 | Jul 15 | $0.055 | raised from $0.0452 |
| Mar 31, 2025 | Mar 31 | Apr 15 | $0.0452 | |
| Dec 31, 2024 | Dec 31 | Jan 15 | $0.0452 | cut from $0.0481 |
| Sep 30, 2024 | Sep 30 | Oct 15 | $0.0481 | raised from $0.0475 |
Ownership
Shares outstanding 187.50M · Float 167.07M · 89.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Edgepoint Investment Group Inc. | 18.37M | 9.80% | 13F | Aug 14, 2026 |
| BlackRock Portfolio Management LLC | 14.97M | 8.00% | 13G | Apr 29, 2026 |
| Van Eck Associates Corp | 11.09M | 5.91% | 13F | Aug 14, 2026 |
| Price T Rowe Associates Inc /MD/ | 7.96M | 4.24% | 13F | Aug 14, 2026 |
| Mirae Asset Global Etfs Holdings Ltd. | 7.29M | 3.89% | 13F | Aug 14, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Franco-Nevada
Gold-focused royalties and streams across a broad global portfolio
- Wheaton Precious Metals
Precious-metals streams with a global operating and development portfolio
- Royal Gold
Precious-metals streams and royalties across a global mine portfolio
- Triple Flag Precious Metals
Precious-metals royalties and streams focused on the Americas and Australia
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| OR Royalties | $36.90 | −1.31% | $7.01B | 24.9 | 22.2 | 17.9 | +120.8% |
| Franco-Nevada | $272.44 | +2.35% | $51.33B | 34.8 | 29.7 | 22.2 | +57.3% |
| Wheaton Precious Metals | $152.55 | −0.50% | $69.63B | 34.0 | 29.7 | 21.9 | +84.7% |
| Royal Gold | $263.05 | +0.06% | $22.31B | 28.7 | 21.8 | 14.4 | +114.9% |
| Triple Flag Precious Metals | $34.50 | +1.58% | $7.02B | 17.0 | 25.6 | 14.4 | +37.3% |
| Median | 31.3 | 27.6 | 18.2 | +71.0% |