Tearsheet

OR Royalties (OR)

Market Price (12/29/2025): $37.58 | Market Cap: $7.1 Bil
Sector: Materials | Industry: Gold

OR Royalties (OR)

Market Price (12/29/2025): $37.58
Market Cap: $7.1 Bil
Sector: Materials
Industry: Gold

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 33%	Expensive valuation multiples P/SPrice/Sales ratio is 29x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 38x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 33x, P/EPrice/Earnings or Price/(Net Income) is 48x
1	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 70%	Stock price has recently run up significantly 12M Rtn12 month market price return is 106%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 87%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 46%	Key risks OR key risks include [1] its dependence on the operational performance of its mining partners and [2] geopolitical exposure from its specific portfolio of assets.
3	Low stock price volatility Vol 12M is 35%
4	Megatrend and thematic drivers Megatrends include Strategic Resources & Metals. Themes include Precious Metals Investment, Critical Minerals Supply, and Resource Royalty Financing.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 33%
1	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 70%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 87%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 46%
3	Low stock price volatility Vol 12M is 35%
4	Megatrend and thematic drivers Megatrends include Strategic Resources & Metals. Themes include Precious Metals Investment, Critical Minerals Supply, and Resource Royalty Financing.
5	Expensive valuation multiples P/SPrice/Sales ratio is 29x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 38x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 33x, P/EPrice/Earnings or Price/(Net Income) is 48x
6	Stock price has recently run up significantly 12M Rtn12 month market price return is 106%
7	Key risks OR key risks include [1] its dependence on the operational performance of its mining partners and [2] geopolitical exposure from its specific portfolio of assets.

Valuation, Metrics & Events

	12/29/25	2024	2023	2022	2021
Share Price CYE	$37.58	$18.00	$14.04	$11.72	$11.72
Market Cap CYE ($ Bil)	7.1	3.4	2.6	2.2	2.0
Total Debt ($ Bil)	0.0	0.1	0.2	0.1	0.3
Total Cash ($ Bil)	0.1	0.1	0.1	0.1	0.1
Enterprise Value ($ Bil)	7.0	3.5	2.8	2.3	2.3
Valuation Ratios
P/S TTM	29.0	17.6	14.4	13.6	11.6
P/EBIT TTM	38.0	88.5	-194.2	21.8	20.7
P/E TTM	47.8	207.3	-70.6	-24.9	-111.2
P/FCF TTM	63.2	39.0	-33.3	-207.2	173.2
Sector Ratios
P/S TTM (Sector)	1.5	1.3	1.4	1.2	1.5
P/EBIT TTM (Sector)	8.1	6.8	6.6	5.1	5.8
P/E TTM (Sector)	-0.2	6.1	7.1	4.8	6.8
P/FCF TTM (Sector)	6.9	5.8	5.0	2.7	5.7

	12/29/25	2024	2023
Share Price CYE	$37.58	$18.00	$14.04
Market Cap CYE ($ Bil)	7.1	3.4	2.6
Total Debt ($ Bil)	0.0	0.1	0.2
Total Cash ($ Bil)	0.1	0.1	0.1
Enterprise Value ($ Bil)	7.0	3.5	2.8
Valuation Ratios
P/S TTM	29.0	17.6	14.4
P/EBIT TTM	38.0	88.5	-194.2
P/E TTM	47.8	207.3	-70.6
P/FCF TTM	63.2	39.0	-33.3
Sector Ratios
P/S TTM (Sector)	1.5	1.3	1.4
P/EBIT TTM (Sector)	8.1	6.8	6.6
P/E TTM (Sector)	-0.2	6.1	7.1
P/FCF TTM (Sector)	6.9	5.8	5.0

	OR	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	0.2
Rev Chg Q	70.6%	7.3%
Rev Chg LTM	32.7%	6.1%
Rev Chg 3Y Avg	15.9%	5.5%
PROFITABILITY	VERY GOOD
Op Inc LTM ($ Bil)	0.2
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	70.2%	18.8%
CFO/Rev LTM	86.9%	20.4%
Net Inc Mgn	60.7%	13.1%
VALUATION	VERY HIGH
P/S	29.0	3.3
P/CFO	33.4	15.8
P/FCF	63.2	20.7
P/E	47.8	23.7
STABILITY	GOOD
Debt/Equity	0.00	0.21
Cash/Assets	0.04	0.07

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Metric	Value	Date	Source
Gold Equivalent Ounces (GEOs) Earned	20326	9302025	Link
Cash Margin	96.7%	9302025	Link
Number of Producing Assets	22	11062025	Link
Percentage of GEOs from Tier-1 Mining Jurisdictions (2024)	78%	12312024	Link
Percentage of GEOs from Precious Metals	95%	9302025	Link

Upcoming
12/31/2025	Dividend	Amount: $0.06 Payment On: 1/15/2026
2/18/2026	Earnings Release	Rev: - EPS: -

OR Stock

Return (1M):

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Why The Stock Moved

Qualitative Assessment

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1. Strong Q3 2025 Financial Performance: OR Royalties reported record quarterly revenues of $71.6 million, an 87% year-over-year increase in cash flows from operating activities to $64.6 million, and net earnings of $82.8 million for the third quarter of 2025. The company also achieved 20,326 gold equivalent ounces (GEOs) earned during this period.

2. Debt-Free Status: The company achieved a significant financial milestone by becoming debt-free for the first time in over a decade, having fully repaid its revolving credit facility during Q3 2025. This resulted in a cash balance of $57.0 million as of September 30, 2025.

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Stock Movement Drivers

Fundamental Drivers

The -2.2% change in OR stock from 9/28/2025 to 12/28/2025 was primarily driven by a -47.9% change in the company's P/E Multiple.

	9282025	12282025	Change
Stock Price ($)	38.42	37.58	-2.19%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	214.00	243.65	13.85%
Net Income Margin (%)	36.69%	60.72%	65.51%
P/E Multiple	91.87	47.83	-47.94%
Shares Outstanding (Mil)	187.75	188.31	-0.30%
Cumulative Contribution			-2.19%

LTM = Last Twelve Months as of date shown

Market Drivers

9/28/2025 to 12/28/2025

	Return	Correlation
OR	-2.2%
Market (SPY)	4.3%	14.5%
Sector (XLB)	3.8%	27.5%

Fundamental Drivers

The 50.7% change in OR stock from 6/29/2025 to 12/28/2025 was primarily driven by a 297.1% change in the company's Net Income Margin (%).

	6292025	12282025	Change
Stock Price ($)	24.94	37.58	50.68%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	201.03	243.65	21.20%
Net Income Margin (%)	15.29%	60.72%	297.12%
P/E Multiple	151.71	47.83	-68.47%
Shares Outstanding (Mil)	186.98	188.31	-0.71%
Cumulative Contribution			50.67%

LTM = Last Twelve Months as of date shown

Market Drivers

6/29/2025 to 12/28/2025

	Return	Correlation
OR	50.7%
Market (SPY)	12.6%	11.6%
Sector (XLB)	5.4%	18.3%

Fundamental Drivers

The 106.4% change in OR stock from 12/28/2024 to 12/28/2025 was primarily driven by a 57.1% change in the company's P/S Multiple.

	12282024	12282025	Change
Stock Price ($)	18.21	37.58	106.39%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	183.64	243.65	32.68%
P/S Multiple	18.48	29.05	57.14%
Shares Outstanding (Mil)	186.41	188.31	-1.02%
Cumulative Contribution			106.36%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2024 to 12/28/2025

	Return	Correlation
OR	106.4%
Market (SPY)	17.0%	11.0%
Sector (XLB)	10.2%	17.3%

Fundamental Drivers

The 219.8% change in OR stock from 12/29/2022 to 12/28/2025 was primarily driven by a 113.5% change in the company's P/S Multiple.

	12292022	12282025	Change
Stock Price ($)	11.75	37.58	219.82%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	159.64	243.65	52.62%
P/S Multiple	13.61	29.05	113.49%
Shares Outstanding (Mil)	184.84	188.31	-1.88%
Cumulative Contribution			219.71%

LTM = Last Twelve Months as of date shown

Market Drivers

12/29/2023 to 12/28/2025

	Return	Correlation
OR	167.6%
Market (SPY)	48.4%	19.4%
Sector (XLB)	11.4%	26.8%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
OR Return	33%	-2%	0%	20%	28%	106%	310%
Peers Return	16%	38%	-12%	21%	26%	16%	150%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	114%
Monthly Win Rates [3]
OR Win Rate	58%	42%	50%	42%	58%	83%
Peers Win Rate	52%	65%	42%	68%	57%	52%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
OR Max Drawdown	-46%	-22%	-24%	-4%	-5%	-1%
Peers Max Drawdown	-34%	-5%	-26%	-7%	-9%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique Key	Event	OR	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-38.3%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	62.1%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	207 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-50.5%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	101.9%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	116 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-50.9%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	103.8%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	932 days	120 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

OR Royalties's stock fell -38.3% during the 2022 Inflation Shock from a high on 6/15/2021. A -38.3% loss requires a 62.1% gain to breakeven.

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Asset Allocation

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About OR Royalties (OR)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Osisko Gold Royalties Ltd acquires and manages precious metal and other royalties, streams, and offtake and other interests in Canada and internationally. It also owns options on royalty/stream financings; and exclusive rights to participate in future royalty/stream financings on various projects. The company's primary asset is a 5% net smelter return royalty on the Canadian Malartic mine located in Canada. It is also involved in the exploration, evaluation, and development of mining projects. It primarily explores for precious metals, including gold, silver, diamond, and others. The company is headquartered in Montreal, Canada.

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It's like Prologis (a major REIT), but for mining royalties instead of industrial real estate.
It's like Barrick Gold (a major gold miner), but OR Royalties doesn't operate mines; it just collects a percentage of the minerals produced by other companies.

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Precious Metals Royalties: These are financial interests entitling OR Royalties to a percentage of the gross or net revenues from the production of gold, silver, and other precious metals at various mining operations.
Precious Metals Streams: These are agreements to purchase a fixed percentage of future gold or silver production from specific mines at a predetermined, typically discounted, price.

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OR Royalties sells primarily to other companies. Its major customers are:

Lundin Mining Corporation (TSX: LUN)
Orla Mining Ltd. (NYSE: OLA)
Kinross Gold Corporation (NYSE: KGC)

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Jason Attew, President, Chief Executive Officer and Director

Mr. Attew is a mining industry veteran with over 25 years of experience in the sector. He previously served as President, CEO, and Director of Liberty Gold Corp and Gold Standard Ventures Corp. Before joining OR Royalties, he was the Chief Financial Officer at Goldcorp Inc., where he was responsible for leading finance and investor relations operations, and also for corporate development and strategy, which concluded with the US$32 billion merger with Newmont Corporation. Mr. Attew possesses extensive international capital markets experience from his 16 years in investment banking with the BMO Global Metals and Mining Group, where he played a key role in structuring and raising significant growth capital, as well as advising on transformative mergers and acquisitions.

Frédéric Ruel, Chief Financial Officer and Vice President, Finance

Mr. Ruel brings over 20 years of experience in financial reporting, with more than 12 years dedicated to the mining industry. Prior to his role at OR Royalties Inc., he held the position of Director, Corporate Reporting for Canadian Malartic Partnership, Osisko Mining Corporation, and Consolidated Thompson Iron Mines. He began his career as an auditor at a leading Canadian accounting firm.

André Le Bel, Vice President, Legal Affairs and Corporate Secretary

Mr. Le Bel was appointed Vice President of Legal Affairs and Corporate Secretary of OR Royalties Inc. in February 2015. From November 2007 to June 2014, he served as Vice-President of Legal Affairs and Corporate Secretary of Osisko Mining Corporation. His prior experience includes serving as Vice President Legal affairs with Iamgold Corporation from November 2006 to October 2007, and as Senior Legal Counsel and Assistant Corporate Secretary of Cambior Inc. before that.

Iain Farmer, Vice President, Corporate Development

Mr. Farmer has over a decade of experience in the mining industry. Most recently, he served as Director of Evaluations for OR Royalties Inc., where his responsibilities included the financial and technical evaluation of investments, as well as the origination and execution of transactions. Before joining OR Royalties Inc., Mr. Farmer worked in equity research, covering the mining sector.

Heather Taylor, Vice President, Sustainability and Communications

Ms. Taylor joined OR Royalties Inc. in early 2021 and has more than 15 years of capital markets experience, specializing in the global metals and mining industry. She most recently served as Head of Business Development at Nexa Resources, where she oversaw and executed the company's M&A strategy. Previously, she managed investor relations at Nevsun Resources, a company that was acquired by Zijin Mining for $1.9 billion.

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The key risks to OR Royalties' business include its exposure to volatile commodity prices, dependence on the operational performance of its mining partners, and geopolitical risks in various mining regions.

Commodity Price Volatility: As a company primarily focused on precious metal royalties, OR Royalties' revenue is directly and inherently exposed to fluctuations in the prices of commodities such as gold, silver, and copper. A significant downturn in these commodity prices would negatively impact its revenue.
Dependence on Mining Partners' Operational Performance: OR Royalties operates on an asset-light model, collecting royalties and streams from mines operated by its partners, meaning it has no direct control over the day-to-day mining operations. This exposes the company to risks associated with its partners' operational performance, including labor issues, equipment failures, permitting delays, the pace of mine development, or the possibility that a project may never reach production.
Geopolitical Risks in Mining Regions: While OR Royalties focuses heavily on assets in stable, Tier-1 mining jurisdictions like Canada, the United States, and Australia, its portfolio also includes interests in other regions, including parts of South America, Africa, and Europe. Geopolitical instability, regulatory changes, or other country-specific risks in these regions could adversely affect the operations of the underlying mines and, consequently, OR Royalties' income.

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OR Royalties (symbol: OR) operates primarily in the acquisition and management of precious metal royalties and streams.

The addressable market for these services can be viewed in two ways:

Mining Royalty Sector (Global): The mining royalty sector has seen significant growth, with the combined market capitalizations of royalty companies skyrocketing to approximately US$70 billion. This figure represents the collective valuation of companies specializing in royalties and streams within the mining industry.
Global Mining Market: The broader market from which royalties and streams are generated is the global mining market. This market was valued at an estimated US$1.96 trillion in 2024 and is projected to grow to US$2.06 trillion in 2025.

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Here are 3-5 expected drivers of future revenue growth for OR Royalties (symbol: OR) over the next 2-3 years:

Growth in Gold Equivalent Ounces (GEOs) from Existing and Development Assets: OR Royalties anticipates a significant increase in gold equivalent ounces (GEOs) from its portfolio. The company projects 110,000-125,000 GEOs by 2029, representing approximately 40% growth over 2025 levels, stemming from existing assets, expansions, and development projects. For example, the Namdini mine reached its first gold pour in November 2024, adding to the producing assets. Other development projects like Cascabel, with first production targeted for as early as 2028, and the Cariboo gold project, with potential first gold production by the second half of 2027, are expected to contribute to future GEO deliveries.
Strategic Acquisitions of New Royalties and Streams: A core part of OR Royalties' business model is the acquisition of new royalties and streams. The company's robust balance sheet and strong cash flow generation enable it to pursue inorganic growth through further acquisitions. Recent examples include the acquisition of a 100% silver stream on Orla Mining's South Railroad project, which is anticipated to commence production by 2027. The company also acquired a 1.8% gross revenue royalty on Spartan Resources' Dalgaranga Gold project in Western Australia, expected to close in Q4 2024.
Favorable Precious Metal and Commodity Prices: As a royalty and streaming company, OR Royalties' revenue is directly influenced by commodity prices. Elevated precious metal prices, particularly gold, have historically contributed to record annual revenues. Strong commodity prices were cited as a significant factor in the company's strong revenue growth in recent quarters.
Operational Performance and Ramp-up of Existing Royalty Assets: Continued strong performance from cornerstone assets, such as the 5% net smelter return royalty on Agnico Eagle's Canadian Malartic Mine, remains a crucial revenue driver. Additionally, contributions from newer assets like the CSA copper stream are expected to positively impact the commodity mix and revenue.

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Capital Allocation Decisions (2021-2025)

Share Repurchases

    OR Royalties has a consistent track record of returning capital to shareholders through both dividends and share repurchases.
    Between 2019 and 2024, 24% of the company's earned Gold Equivalent Ounces (GEOs) were allocated to dividends and stock buybacks.


Share Issuance

    In 2025, OR Royalties announced that it has ceased the granting of Options.
    Shares were issued through the exercise of share options and a share purchase plan, totaling $8,889 in Q2 2025 and $11,476 in Q3 2025.
    Following a name change and new CUSIP number as of May 8, 2025, the company's dividend reinvestment plan (DRIP) continues to offer a 3% discount for participants.


Inbound Investments

    OR Royalties increased its revolving credit facility to $650.0 million, with an additional uncommitted accordion of up to $200.0 million, and extended its maturity date to May 30, 2029.
    The credit facility was converted from a Canadian dollar to a United States dollar denominated facility.
    As of September 30, 2025, the revolving credit facility was fully repaid and undrawn.


Outbound Investments

    In 2024, OR Royalties committed and/or deployed over US$287.7 million across three new transactions to add high-quality assets to its portfolio.
    A significant investment includes approximately $225 million (total investment by Osisko Bermuda Limited) for a 6% Gold Stream on the Cascabel Gold Stream, which was part of a syndicated $750 million transaction.
    OR Royalties International Ltd. acquired a 100% silver stream on Orla Mining Ltd.'s South Railroad project in Nevada, United States, for a total cash consideration of $13.0 million, reported in Q2 2025.
    Another key investment in 2024 was the acquisition of a 1.8% gross revenue royalty on Spartan Resources Limited’s Dalgaranga Gold project and a 1.35% GRR on additional regional exploration licenses for a combined consideration of US$50.0 million.

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NVDA (91.6% | 24.8x)

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Berkshire Hathaway

LLY (23.4% | 18.2x)

Eli Lilly

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for OR: 15.9% | 41.4x)

META (17.3% | 20.4x)

Meta Platforms

MU (28.3% | 23.3x)

Micron Technology

BKNG (17.8% | 19.6x)

Booking

UBER (19.6% | 37.1x)

Uber Technologies

APH (20.7% | 32.5x)

Amphenol

Higher Rev Chg LTM (Value for OR: 32.7%)

APP (86.4%)

AppLovin

NVDA (65.2%)

NVIDIA

PLTR (47.2%)

Palantir Technologies

MU (45.4%)

Micron Technology

LLY (36.8%)

Eli Lilly

Higher Rev Chg 3Y Avg (Value for OR: 15.9%)

NVDA (91.6%)

NVIDIA

AVGO (25.2%)

Broadcom

LLY (23.4%)

Eli Lilly

BRK-B (19.8%)

Berkshire Hathaway

META (17.3%)

Meta Platforms

Higher Op Mgn LTM (Value for OR: 70.2%)

VICI (92.6%)

VICI Properties

IBKR (85.5%)

Interactive Brokers

SAFE (80.5%)

Safehold

TPL (75.8%)

Texas Pacific Land

GLPI (72.7%)

Gaming and Leisure Properties

Higher CFO/Rev LTM (Value for OR: 86.9%)

GSAT (299.9%)

Globalstar

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NLY (167.8%)

Annaly Capital Management

IBKR (162.0%)

Interactive Brokers

RPRX (102.4%)

Royalty Pharma

Higher FCF/Rev LTM (Value for OR: 46.0%)

BAC (57.3%)

Bank of America

V (53.9%)

Visa

MA (52.5%)

Mastercard

APP (50.6%)

AppLovin

PLTR (46.0%)

Palantir Technologies

Higher Total Yield (Value for OR: 2.6%)

META (3.8%)

Meta Platforms

MSFT (3.6%)

Microsoft

GOOGL (3.5%)

Alphabet

AMZN (2.9%)

Amazon.com

AAPL (2.8%)

Apple

		Best Bets In Materials Sector
	OR	SCCO	USLM	CF	NEU	EXP	LIN	NEM	SMG	CBT	B
What You Pay
P/E	47.8	32.2	27.8	9.0	14.8	15.5	29.8	16.1	23.1	10.7	22.0
P/EBIT	38.0	19.4	23.7	5.6	10.7	11.4	21.4	11.1	9.6	5.5	11.3
What You Get
Rev Chg Q	70.6%	15.2%	14.1%	21.1%	-4.8%	2.5%	2.8%	20.0%	-6.6%	-10.2%	23.2%
Rev Chg LTM	32.7%	12.7%	20.3%	12.6%	-1.1%	1.5%	1.3%	26.6%	-3.9%	-7.0%	18.4%
Rev Chg 3Y Avg	15.9%	7.1%	17.8%	-13.5%	1.1%	4.1%	0.6%	23.9%	-4.5%	-4.8%	8.5%
FCF/Rev 3Y Avg	12.5%	27.0%	25.6%	22.3%	17.5%	16.7%	15.4%	13.8%	12.3%	10.3%	10.1%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 11%, alpha of 1.8%, and sharpe of 0.46

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	OR Royalties Stock Jump Looks Great, But How Secure Is That Gain?	Return
2	OR Dip Buy Analysis
3	Things To Be Wary Of When Buying OR Royalties Stock	Buy or Fear
4	OR Royalties (OR) Valuation Ratios Comparison	Financials
5	Fundamental Metrics: ...

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Trade Ideas

Select ideas related to OR. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
DD_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	DD	DuPont de Nemours	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	7.6%	7.6%	-0.2%
CF_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	CF	CF Industries	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-1.4%	-1.4%	-3.1%
HL_11212025_Quality_Momentum_RoomToRun_10%	11212025	HL	Hecla Mining	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	51.0%	51.0%	0.0%
CDE_11072025_Dip_Buyer_ValueBuy	11072025	CDE	Coeur Mining	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	30.6%	30.6%	-5.7%
ATR_10312025_Dip_Buyer_ValueBuy	10312025	ATR	AptarGroup	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	6.2%	6.2%	-2.5%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ZETA	Zeta Global	4.6	8.3%	15.1%
SGML	Sigma Lithium	1.6	7.3%	29.2%
USAS	Americas Gold And Silver	1.6	6.6%	557.6%
CPNG	Coupang	44.2	6.4%	10.4%
LION	Lionsgate Studios	2.7	4.6%	-69.9%
BBW	Build-A-Bear Workshop	0.8	4.4%	37.8%
XRAY	Dentsply Sirona	2.3	4.2%	-36.3%
BLMN	Bloomin Brands	0.6	3.8%	-41.2%
FUN	Six Flags Entertainment	1.5	3.8%	-69.1%
SVM	Silvercorp Metals	1.9	3.6%	198.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FLY	Firefly Aerospace	3.3	-13.7%	-61.3%
TMC	TMC The Metals	2.5	-10.5%	508.9%
ORGO	Organogenesis	0.7	-10.1%	64.8%
AAOI	Applied Optoelectronics	2.4	-9.3%	0.8%
BKSY	BlackSky Technology	0.7	-9.0%	79.0%
LUNR	Intuitive Machines	1.8	-8.7%	-16.0%
RCAT	Red Cat	0.8	-8.7%	-35.4%
RGTI	Rigetti Computing	6.7	-8.7%	46.7%
RDW	Redwire	1.0	-8.6%	-56.6%
RKLB	Rocket Lab	36.4	-8.5%	177.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	71.5%	59.0%
RZLT	Rezolute	0.3	44.3%	-45.5%
DVAX	Dynavax Technologies	1.8	41.5%	20.4%
LUNR	Intuitive Machines	1.8	40.6%	-16.0%
UAMY	United States Antimony	0.7	39.0%	252.5%
FOLD	Amicus Therapeutics	4.4	30.9%	51.3%
ADEA	Adeia	1.9	30.3%	23.0%
HUT	Hut 8	5.2	28.6%	142.3%
AAOI	Applied Optoelectronics	2.4	27.1%	0.8%
SGML	Sigma Lithium	1.6	24.9%	29.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TPL	Texas Pacific Land	6.6	-67.9%	-21.5%
LW	Lamb Weston	5.9	-29.0%	-35.3%
TLRY	Tilray Brands	10.2	-22.2%	-27.8%
TDUP	ThredUp	0.8	-18.2%	348.2%
LAB	Standard BioTools	0.5	-16.9%	-21.1%
OLMA	Olema Pharmaceuticals	2.2	-14.9%	349.9%
EVEX	Eve	1.4	-12.0%	-21.9%
IRON	Disc Medicine	2.8	-11.2%	26.7%
AVO	Mission Produce	0.8	-11.1%	-18.8%
CABO	Cable One	0.7	-10.6%	-67.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TLRY	Tilray Brands	10.2	876.4%	-27.8%
HPP	Hudson Pacific Properties	4.7	452.7%	-51.0%
WVE	WAVE Life Sciences	2.9	139.2%	43.7%
TE	T1 Energy	1.1	106.7%	400.0%
VERA	Vera Therapeutics	3.4	82.1%	26.7%
OMER	Omeros	0.9	66.2%	59.0%
RKLB	Rocket Lab	36.4	65.8%	177.4%
PL	Planet Labs PBC	5.9	65.0%	379.2%
AAOI	Applied Optoelectronics	2.4	63.5%	0.8%
LUNR	Intuitive Machines	1.8	62.4%	-16.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-45.5%
JANX	Janux Therapeutics	0.9	-59.0%	-73.4%
FRMI	Fermi	5.3	-46.0%	-76.6%
LENZ	LENZ Therapeutics	0.5	-43.5%	-41.6%
GOGO	Gogo	0.6	-35.3%	-43.0%
HPK	HighPeak Energy	0.5	-33.9%	-70.4%
PACB	Pacific Biosciences of California	0.5	-32.7%	-3.3%
LDI	loanDepot	0.4	-29.6%	3.9%
ORIC	ORIC Pharmaceuticals	0.6	-29.0%	2.2%
LW	Lamb Weston	5.9	-28.6%	-35.3%

Peer Comparisons for OR Royalties

Peers to compare with:

Financials

	OR	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	OR Royal.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Price	37.58	23.26	24.49	305.09	78.16	273.40	57.87
Mkt Cap	7.1	21.9	32.6	284.9	309.2	4,074.4	158.8
Rev LTM	244	55,295	34,296	65,402	57,696	408,625	56,496
Op Inc LTM	171	3,624	1,644	11,544	12,991	130,214	7,584
FCF LTM	112	2,800	627	11,854	12,733	96,184	7,327
FCF 3Y Avg	33	2,978	1,400	11,753	13,879	100,503	7,366
CFO LTM	212	3,697	2,919	13,483	13,744	108,565	8,590
CFO 3Y Avg	166	3,672	3,896	13,498	14,736	111,559	8,697

Growth & Margins

	OR	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	OR Royal.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Rev Chg LTM	32.7%	3.2%	13.8%	4.5%	8.9%	6.0%	7.4%
Rev Chg 3Y Avg	15.9%	-3.9%	6.5%	2.6%	3.7%	1.8%	3.2%
Rev Chg Q	70.6%	4.2%	14.4%	9.1%	7.5%	9.6%	9.4%
QoQ Delta Rev Chg LTM	13.9%	1.1%	3.7%	2.1%	1.8%	2.1%	2.1%
Op Mgn LTM	70.2%	6.6%	4.8%	17.7%	22.5%	31.9%	20.1%
Op Mgn 3Y Avg	58.3%	7.4%	7.2%	16.4%	24.2%	30.8%	20.3%
QoQ Delta Op Mgn LTM	1.8%	-0.2%	-1.4%	0.6%	0.4%	0.1%	0.2%
CFO/Rev LTM	86.9%	6.7%	8.5%	20.6%	23.8%	26.6%	22.2%
CFO/Rev 3Y Avg	81.1%	6.8%	12.7%	21.4%	26.1%	28.4%	23.8%
FCF/Rev LTM	46.0%	5.1%	1.8%	18.1%	22.1%	23.5%	20.1%
FCF/Rev 3Y Avg	12.5%	5.5%	4.6%	18.6%	24.6%	25.6%	15.6%

Valuation

	OR	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	OR Royal.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Cap	7.1	21.9	32.6	284.9	309.2	4,074.4	158.8
P/S	29.0	0.4	1.0	4.4	5.4	10.0	4.9
P/EBIT	38.0	6.8	19.9	25.1	22.5	31.3	23.8
P/E	47.8	8.6	572.7	36.0	29.9	41.0	38.5
P/CFO	33.4	5.9	11.2	21.1	22.5	37.5	21.8
Total Yield	2.6%	14.1%	2.3%	5.0%	5.4%	2.8%	3.9%
Dividend Yield	0.5%	2.5%	2.1%	2.2%	2.1%	0.4%	2.1%
FCF Yield 3Y Avg	-0.3%	10.6%	5.5%	6.4%	6.0%	3.1%	5.7%
D/E	0.0	0.5	0.7	0.2	0.1	0.0	0.2
Net D/E	-0.0	0.3	0.6	0.2	0.0	0.0	0.1

Returns

	OR	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	OR Royal.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
1M Rtn	7.7%	-3.6%	12.7%	-1.1%	1.6%	-2.0%	0.2%
3M Rtn	-2.2%	-11.9%	2.7%	7.9%	17.0%	7.1%	4.9%
6M Rtn	50.7%	-4.0%	34.5%	6.6%	15.2%	36.3%	24.9%
12M Rtn	106.4%	-27.0%	16.2%	40.5%	34.5%	7.5%	25.3%
3Y Rtn	219.8%	-3.7%	67.3%	141.3%	79.6%	114.1%	96.9%
1M Excs Rtn	9.5%	-5.6%	12.9%	-2.2%	-0.0%	-3.7%	-1.1%
3M Excs Rtn	-6.5%	-16.2%	-1.7%	3.6%	12.7%	2.8%	0.6%
6M Excs Rtn	38.4%	-16.3%	22.3%	-5.7%	3.0%	24.0%	12.6%
12M Excs Rtn	91.7%	-42.9%	-0.7%	25.0%	19.9%	-8.4%	9.6%
3Y Excs Rtn	138.0%	-83.5%	-11.2%	59.6%	-1.2%	28.4%	13.6%

FDIC Bank Data

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/5/2025	3/28/2025	3/28/2024	3/30/2023	3/18/2022	3/31/2021	3/27/2020
Key Financials
Total Revenue	244	191	183	160	176	168	301
EBITDA	222	72	29	138	138	79	-155
Operating Income	171	129	72	92	90	53	40
Net Income	148	16	-37	-87	-18	13	-179
EPS	0.79	0.09	-0.20	-0.49	-0.11	0.08	-1.19
Growth Rates
Total Revenue Growth	32.7%	4.3%	14.2%	-9.0%	5.3%	-44.3%	-16.5%
EBITDA Growth	1913.7%	146.3%	-79.0%	0.4%	75.5%	150.6%	-241.3%
Operating Income Growth	43.9%	78.7%	-21.3%	1.9%	69.3%	32.2%	25.8%
Net Income Growth	451.4%	143.5%	57.2%	-373.6%	-239.6%	107.4%	-131.3%
Margins
EBITDA Margin	91.3%	37.5%	15.9%	86.3%	78.2%	46.9%	-51.6%
Operating Income Margin	70.2%	67.6%	39.5%	57.3%	51.2%	31.8%	13.4%
Net Income Margin	60.7%	8.5%	-20.4%	-54.5%	-10.5%	7.9%	-59.7%
Cash & Debt
Total Cash	57	59	57	67	91	240	99
Total Debt	5	99	151	115	322	323	267
Net Debt / (Cash)	-52	40	94	48	231	83	169
Cash Flows
Net Cash from Operations	212	160	138	81	83	85	70
Free Cash from Operations	112	86	-79	-11	12	-23	6
Returns to Shareholders
Dividends	33	31	30	28	25	23	21
Share Repurchases	-0	0	-0	16	24	3	109

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/5/2025	8/5/2025	5/7/2025	3/28/2025	11/6/2024	8/7/2024	5/8/2024	3/28/2024	11/9/2023	8/10/2023	5/11/2023	3/30/2023
Key Financials Quarterly
Total Revenue	72	60	55	57	42	47	45	49	46	46	44	46
Ebitda	103	48	43	27	28	-12	29	-33	0	29	34	34
Operating Income	52	41	39	39	27	32	31	28	8	11	25	28
Net Income	83	32	26	7	13	-15	11	-51	-15	14	15	16
EPS	0.44	0.17	0.14	0.04	0.07	-0.08	0.06	-0.27	-0.08	0.08	0.08	0.09
Key Financials TTM
Total Revenue TTM	244	214	201	191	184	187	186	185	182	175	170	166
Ebitda TTM	222	147	86	72	11	-17	25	30	98	140	145	143
Operating Income TTM	171	146	137	129	119	99	78	73	72	86	97	96
Net Income TTM	148	79	31	16	-42	-70	-41	-37	30	-71	-72	-87
Growth Rates Quarterly
Total Revenue Growth	70.6%	27.4%	21.9%	15.3%	-8.1%	3.8%	2.3%	5.9%	16.4%	14.1%	8.5%	16.8%
EBITDA Growth	268.5%	499.3%	51.4%	181.1%	5807.3%	-141.7%	-15.7%	-197.9%	-98.9%	-15.5%	6.6%	-7.9%
Operating Income Growth	90.3%	29.6%	24.3%	36.5%	256.6%	186.2%	22.0%	1.1%	-63.0%	-51.0%	5.8%	24.0%
Net Income Growth	517.8%	309.9%	129.6%	113.9%	191.1%	-213.7%	-27.5%	-426.1%	87.3%	1.8%	5802.7%	194.6%
Margins Quarterly
EBITDA Margin	144.5%	80.3%	78.8%	47.9%	66.9%	-25.6%	63.5%	-68.0%	1.0%	63.7%	77.0%	73.5%
Operating Income Margin	72.9%	68.6%	70.1%	68.5%	65.3%	67.5%	68.8%	57.9%	16.8%	24.5%	57.6%	60.6%
Net Income Margin	115.7%	53.6%	46.7%	12.5%	31.9%	-32.5%	24.8%	-104.2%	-32.2%	29.7%	35.0%	33.8%
Cash & Debt
Total Cash	57	50	63	59	55	51	59	57	57	56	89	67
Total Debt	5	41	80	99	65	85	118	151	238	248	106	115
Net Debt / (Cash)	-52	-8	17	40	10	34	59	94	181	192	17	48
Cash Flows Quarterly
FCF from Operations	65	51	46	50	35	38	37	38	32	36	34	36
Cash Flows TTM
FCF from Operations TTM	212	182	169	160	148	146	143	139	137	133	97	83
Returns to Shareholders Quarterly
Dividends	10	8	8	8	8	7	8	8	8	7	7	7
Share Repurchases	-0	-0	-0	-0	0	-0	-0	-0	-0	-0	-0	1
Return on Invested Capital (ROIC) Quarterly
ROIC	11.4%	8.2%	7.3%	4.2%	4.6%	5.3%	4.8%	6.6%	1.5%	2.0%	4.4%	5.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	8.5%	6.4%	5.6%	4.3%	7.1%	5.9%	4.6%	4.2%	3.1%	3.6%	4.4%	4.4%

Segment Financials

Revenue by Segment

$ Mil	2024	2020
Acquiring and managing precious metals and other royalties, streams and other interests	183
Royalties, streams and other interests		301
Total	183	301

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Acquiring and managing precious metals and other royalties, streams and other interests	1,486	1,471
Intersegment transactions			-19	-11
Mining exploration, evaluation and development			551	629	259
Royalties, streams and other interests			1,327	1,262	1,231
Total	1,486	1,471	1,859	1,880	1,491

Price Behavior

Price Behavior

Market Price	$37.58
Market Cap ($ Bil)	7.1
First Trading Date	07/07/2014
Distance from 52W High	-8.0%
	50 Days	200 Days
DMA Price	$34.06	$29.41
DMA Trend	up	down
Distance from DMA	10.3%	27.8%
	3M	1YR
Volatility	41.0%	35.2%
Downside Capture	113.40	-9.58
Upside Capture	79.78	63.53
Correlation (SPY)	15.7%	11.7%

OR Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.37	0.40	0.49	0.24	0.22	0.35
Up Beta	0.59	0.20	-0.25	-0.07	0.24	0.21
Down Beta	1.27	-1.02	-0.65	-0.47	0.13	0.34
Up Capture	216%	38%	130%	95%	46%	29%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	10	21	38	77	145	411
Down Capture	127%	148%	118%	34%	-1%	53%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	21	25	48	103	332

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of OR With Other Asset Classes (Last 1Y)
	OR	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	107.2%	9.9%	17.8%	72.1%	8.6%	4.4%	-8.2%
Annualized Volatility	34.9%	19.9%	19.4%	19.3%	15.2%	17.0%	35.0%
Sharpe Ratio	2.14	0.36	0.72	2.70	0.34	0.09	-0.08
Correlation With Other Assets		17.7%	11.4%	67.1%	19.0%	8.5%	16.0%

ETFs used for asset classes: Sector ETF = XLB, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of OR With Other Asset Classes (Last 5Y)
	OR	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	26.4%	7.2%	14.7%	18.7%	11.5%	4.6%	30.8%
Annualized Volatility	33.7%	18.9%	17.1%	15.5%	18.7%	18.9%	48.6%
Sharpe Ratio	0.77	0.29	0.70	0.97	0.50	0.16	0.57
Correlation With Other Assets		36.1%	24.8%	65.8%	27.1%	26.3%	16.3%

Based On 10-Year Data

		Comparison of OR With Other Asset Classes (Last 10Y)
	OR	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	12.8%	10.1%	14.8%	15.3%	7.0%	5.3%	69.2%
Annualized Volatility	37.6%	20.7%	18.0%	14.7%	17.6%	20.8%	55.8%
Sharpe Ratio	0.43	0.44	0.71	0.86	0.32	0.22	0.90
Correlation With Other Assets		25.5%	18.1%	59.4%	21.5%	18.5%	13.8%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	2,036,410
Short Interest: % Change Since 11302025	-18.2%
Average Daily Volume	1,024,971
Days-to-Cover Short Interest	1.99
Basic Shares Quantity	188,312,000
Short % of Basic Shares	1.1%

Returns Analyses

	Title
0	OR Royalties Stock Jump Looks Great, But How Secure Is That Gain?

SEC Filings

Expand for More

Report Date	Filing Date	Filing
09/30/2025	11/05/2025	6-K (09/30/2025)
06/30/2025	08/05/2025	6-K (06/30/2025)
03/31/2025	05/07/2025	6-K (03/31/2025)
12/31/2024	03/28/2025	40-F (12/31/2024)
09/30/2024	11/06/2024	6-K (09/30/2024)
06/30/2024	08/07/2024	6-K (06/30/2024)
03/31/2024	05/08/2024	6-K (03/31/2024)
12/31/2023	03/28/2024	40-F (12/31/2023)
09/30/2023	11/09/2023	6-K (09/30/2023)
06/30/2023	08/10/2023	6-K (06/30/2023)
03/31/2023	05/11/2023	6-K (03/31/2023)
12/31/2022	03/30/2023	40-F (12/31/2022)
09/30/2022	11/09/2022	6-K (09/30/2022)
06/30/2022	08/10/2022	6-K (06/30/2022)
03/31/2022	05/12/2022	6-K (03/31/2022)
12/31/2021	03/18/2022	40-F (12/31/2021)

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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OR Royalties (OR)

Market Price (12/29/2025): $37.58 | Market Cap: $7.1 BilSector: Materials | Industry: Gold

OR Royalties (OR)

Market Price (12/29/2025): $37.58Market Cap: $7.1 BilSector: MaterialsIndustry: Gold

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

OR Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About OR Royalties (OR)

Capital Allocation Decisions (2021-2025)

Share Repurchases

Share Issuance

Inbound Investments

Outbound Investments

Interactive Breakdown

Better Bets than OR Royalties (OR)

INDUSTRY: Gold

Higher Rev Chg 3Y Avg | Lower P/S (Values for OR: 15.9% | 29.0x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for OR: 15.9% | 41.4x)

Higher Rev Chg LTM (Value for OR: 32.7%)

Higher Rev Chg 3Y Avg (Value for OR: 15.9%)

Higher CFO/Rev LTM (Value for OR: 86.9%)

Higher Total Yield (Value for OR: 2.6%)

SECTOR: Materials

Higher Rev Chg 3Y Avg | Lower P/S (Values for OR: 15.9% | 29.0x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for OR: 15.9% | 41.4x)

Higher Rev Chg LTM (Value for OR: 32.7%)

Higher Rev Chg 3Y Avg (Value for OR: 15.9%)

Higher Op Mgn LTM (Value for OR: 70.2%)

Higher CFO/Rev LTM (Value for OR: 86.9%)

Higher FCF/Rev LTM (Value for OR: 46.0%)

Higher Total Yield (Value for OR: 2.6%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for OR: 15.9% | 29.0x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for OR: 15.9% | 41.4x)

Higher Rev Chg LTM (Value for OR: 32.7%)

Higher Rev Chg 3Y Avg (Value for OR: 15.9%)

Higher Op Mgn LTM (Value for OR: 70.2%)

Higher CFO/Rev LTM (Value for OR: 86.9%)

Higher FCF/Rev LTM (Value for OR: 46.0%)

Higher Total Yield (Value for OR: 2.6%)

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Market Price (12/29/2025): $37.58 | Market Cap: $7.1 Bil
Sector: Materials | Industry: Gold

Market Price (12/29/2025): $37.58
Market Cap: $7.1 Bil
Sector: Materials
Industry: Gold