OR Royalties Inc Dossier
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SectorMaterials IndustryGold Beta (adjusted)1.25 Intrinsic Value $29.53median of 6 methods · middle span $15-$85based on filings through 31 Dec 2025 Market Price $34.34Price as of 30 Sep 2026 Near fair valueIntrinsic value is 14% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $6.4B Enterprise Value $6.3B Shares Outstanding 187.8M diluted Moat Rating Narrow Next Earnings Date4 Nov 2026 Last ex-dividend30 Sep 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary OR Royalties Inc. (formerly Osisko Gold Royalties Ltd) offers a highly resilient, high-margin business model with zero direct exposure to mining capital or operating cost inflation. Anchored by its world-class cornerstone asset, a 3-5% net smelter return (NSR) royalty on the Canadian Malartic Complex, the company is well-positioned to capture significant organic growth. With a debt-free balance sheet, robust cash flows, and a clear 5-year outlook targeting ~50% GEO growth to 2030, the stock trades at an attractive valuation relative to its historical multiples and net asset value (NAV). This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$42.00 Mean target$42.00 High · most bullish analyst$42.00 Street targets sit above today's price; our intrinsic value sits below it. Different horizons, different questions. Our research · scenarios, merits, risks, and invalidation triggersResearch as of 18 Sep 2026 Scenarios · 12-month scenario targets Base CaseCentral scenario The base case assumes steady execution of the company's 5-year growth plan, with GEOs ramping up to 120,000–135,000 by 2030. This is driven by key development assets including Dalgaranga, San Gabriel, and Namdini, alongside expansions at Canadian Malartic and Island Gold. Elevated gold prices and a stable cash margin of ~97% support continued dividend growth and opportunistic portfolio additions. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |