Quarterly ResultMay 6, 2026, 05:32 PM
OR Royalties Q1 Revenue $102.8M, Net Earnings $73.6M; Announces Major Acquisitions
AI Summary
OR Royalties Inc. reported record financial results for the first quarter of 2026, with revenues soaring to $102.8 million and net earnings reaching $73.6 million. The company also announced several significant strategic acquisitions, including an additional royalty on the Namdini Gold mine, the acquisition of Terraco Gold Corp. for $168.0 million, and a portfolio of eight royalties from Gold Fields Limited for $115.0 million. Additionally, OR Royalties exercised a buy-down right on its Cascabel gold stream, generating a $7.2 million gain, and continued its share buyback program.
Key Highlights
- Record revenues from royalties and streams of $102.8 million in Q1 2026, up from $54.9 million in Q1 2025.
- Net earnings reached $73.6 million ($0.39 per basic share) in Q1 2026, compared to $25.6 million ($0.14 per basic share) in Q1 2025.
- Adjusted earnings were $75.0 million ($0.40 per basic share) in Q1 2026, up from $29.5 million ($0.16 per basic share) in Q1 2025.
- Acquired an additional 1.0% NSR royalty on the Namdini Gold mine for up to $103.5 million, with $98.5 million paid in Q1 2026.
- Agreed to acquire Terraco Gold Corp. for $168.0 million cash, adding royalties on the Spring Valley Gold Project.
- Agreed to acquire Gold Fields' portfolio of eight royalties for $115.0 million cash, including a 1.5% NSR on the San Gabriel mine.
- Exercised buy-down right on Cascabel gold stream, repurchasing 50% for 4,290 ounces of gold (net value $17.5 million), resulting in a $7.2 million gain.
- Purchased 322,470 common shares for $12.9 million under the normal course issuer bid.