The Canadian royalty firm reported C$32.4 million in net earnings for Q2 2025, swinging from a loss a year ago on the back of a 27% jump in royalty and streaming revenue. The boost was driven by new cash flows from projects like Cardinal Namdini and Talisker Resources, while mainstays like Canadian Malartic helped balance out weaker results elsewhere. The company's growing roster of assets is starting to pay off, with gold equivalent ounce production now expected between 80,000 and 88,000 for the year. OR Royalties also bumped its quarterly dividend to C$0.055 per share -- showing confidence in its outlook -- while upcoming feasibility studies and asset launches could make for an even busier second half.
OR Royalties' latest results have kept analysts and investors upbeat. Six major firms rate the stock a 'buy' or 'strong buy,' with no sell recommendations in sight. Its 12-month median price target sits at C$40.00 -- just above the recent C$38.53 close -- hinting at steady, sustainable growth. The company's valuation keeps climbing too, trading at 42 times expected earnings -- up from 37 just a few months ago -- as investors gain confidence in its growth and earnings resilience.
The bigger picture: Diversification keeps the engine running.
OR Royalties' broader spread of royalty and streaming interests helps insulate it from bumps in any single project, a trend playing well in today's uncertain resource markets. As new mines come onstream and further expansions line up, the firm is part of a bigger investor shift toward business models built for stability and predictable cash flow. If gold prices stay firm and the new projects stay on track, OR Royalties could keep riding the wave of demand for steady, lower-risk resource investments.