OR Royalties reports first gold while RBC raises target for OR Royalties stock to USD 47.00

Published on 10/05/2026 at 03:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached USD 97.8 million, up 62.00 percent year over year. Dividend per OR Royalties stock is USD 0.07, payable October 15, 2026.

OR, CA68827L1013, Illustration mit AI erstellt.

OR Royalties (CA68827L1013) reported first gold production at Cuiú Cuiú on September 10, 2026, with commercial output expected in the fourth quarter of 2026, according to GlobeNewswire. On September 16, 2026, RBC Capital raised its target from USD 45.00 to USD 47.00 and kept an Outperform rating, as reported by MarketScreener.

Production milestones move closer

The September 23 asset update places Cuiú Cuiú among the portfolio's near-term operating catalysts. OR Royalties owns a 1.00 percent net smelter return royalty on the project, while first gold at Amulsar is imminent and commercial ramp-up remains targeted for the first half of 2027, according to GlobeNewswire.

Amulsar is expected to generate first stream payments in late 2027 or the first half of 2028, subject to metal prices. That timing gives the company a visible bridge between current royalty income and future production growth.

Revenue growth sets the benchmark

In the second quarter of 2026, OR Royalties generated USD 97.8 million in revenue, a 62.00 percent increase from the second quarter of 2025. Net income reached USD 61.4 million, up 90.00 percent year over year, while operating cash flow was USD 83.2 million, according to MarketMinute.

The comparison matters because revenue growth outpaced the 5.00 percent increase in gold equivalent ounces earned during the same quarter. The result highlights the sensitivity of the royalty model to realized metal prices as well as to new assets entering production.

Market value and listing

OR Royalties had a market capitalization of USD 6.5 billion as of October 2, 2026. The company is listed on the TSX and NYSE under ticker OR, and its portfolio contains over 200 royalties, streams and similar interests, according to GlobeNewswire. The third-quarter dividend of USD 0.07 per common share is payable on October 15, 2026 to shareholders of record as of September 30, 2026.