Osisko Gold Royalties Ltd (TSE:OR – Get Free Report)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$45.49 and traded as high as C$52.24. Osisko Gold Royalties shares last traded at C$50.87, with a volume of 545,588 shares trading hands.
Wall Street Analyst Weigh In Separately, Canadian Imperial Bank of Commerce dropped their price target on Osisko Gold Royalties from C$88.00 to C$85.00 in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Osisko Gold Royalties presently has an average rating of “Moderate Buy” and a consensus price target of C$63.20.
Check Out Our Latest Research Report on Osisko Gold Royalties
The company has a debt-to-equity ratio of 14.78, a quick ratio of 0.98 and a current ratio of 2.28. The stock has a market cap of C$9.53 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 1.31 and a beta of 1.93. The business’s 50 day moving average is C$45.49 and its 200 day moving average is C$50.10. Osisko Gold Royalties (TSE:OR – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported C$0.46 earnings per share (EPS) for the quarter. The company had revenue of C$138.98 million for the quarter. Osisko Gold Royalties had a net margin of 80.76% and a return on equity of 21.84%.
Insiders Place Their Bets In related news, Director Duncan Cornell Card sold 5,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of C$50.99, for a total transaction of C$254,950.00. Insiders own 0.38% of the company’s stock.
About Osisko Gold Royalties (Get Free Report)
OR Royalties is a precious metals royalty and streaming company focused on Tier-1 mining jurisdictions defined as Canada, the United States, and Australia. OR Royalties commenced activities in June 2014 with a single producing asset, and today holds a portfolio of over 195 royalties, streams and similar interests. OR Royalties’ portfolio is anchored by its cornerstone asset, the 3-5% net smelter return royalty on Agnico Eagle Mines Limited’s Canadian Malartic Complex, one of the world’s largest gold mines.
Further Reading Five stocks we like better than Osisko Gold Royalties Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For Receive News & Ratings for Osisko Gold Royalties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Osisko Gold Royalties and related companies with MarketBeat.com's FREE daily email newsletter.
HONG KONG, Aug 31, 2026 - (ACN Newswire) - Operating Cash Flow Turns Positive for the First Time, with a Significantly Strengthened Capital Structure
On August 28, 2026, Micot Pharma (02335.HK), the first publicly listed peptide-focused innovative drug company in Hong Kong, announced its interim results for the first half of 2026.
During the reporting period, the Company recorded research and development expenses of RMB128 million, representing a significant year-on-year increase of 215.9%, reflecting an acceleration in R&D investment. Meanwhile, net cash generated from operating activities reached RMB109 million, marking a turnaround from net operating cash outflow in the corresponding period of 2025.
An important contributor to this shift was the commercialization partnership for MT1013.
In February 2026, Micot Pharma entered into an exclusive commercialization licensing agreement with Everest Medicines for MT1013, the Company's Core Product. Under the agreement, Everest Medicines was granted exclusive commercialization rights for MT1013 in Greater China and the Asia-Pacific region excluding Japan for the treatment of secondary hyperparathyroidism (SHPT).
Micot Pharma received an upfront payment of RMB200 million and is eligible to receive potential regulatory and commercial milestone payments of up to RMB1.04 billion, as well as tiered royalties based on net product sales.
As of the end of June 2026, the Company's cash and financial assets totaled approximately RMB1.227 billion, compared with RMB270 million at the end of 2025. Total equity reached approximately RMB957 million, compared with net liabilities of approximately RMB960 million at the end of 2025. The Company's gearing ratio also declined substantially from 389.6% to 25.2%.
For a clinical-stage biotechnology company, the strengthening of liquidity and capital structure provides important financial support for the continued advancement of multiple clinical programs.
MT1013 Advances Through Phase III, with a Clearer Path Toward Commercialization
Beyond its financial position, the key question for the market remains the progress and clinical potential of Micot Pharma's pipeline.
MT1013 remains the Company's most advanced asset and the product closest to commercialization.
MT1013 is the world's first-in-class, new-generation dual-targeting peptide drug being developed for secondary hyperparathyroidism associated with chronic kidney disease (CKD-SHPT).The drug features a pioneering dual mechanism of action-'CaSR agonist + OGP (Osteogenic Growth Peptide) mimetic.'
Unlike conventional approaches that primarily focus on suppressing parathyroid hormone (PTH), MT1013 is designed to regulate PTH, calcium and phosphorus metabolism while simultaneously activating osteogenic pathways to promote bone formation and repair. This represents a potential therapeutic shift from indirectly suppressing bone resorption toward actively promoting bone formation.
The Phase III clinical study of MT1013 has completed patient enrollment, and the Company expects to submit a New Drug Application (NDA) in early 2027.
In a head-to-head clinical study against the calcimimetic etelcalcetide, the composite target attainment rate for serum calcium, phosphorus, and iPTH in the MT1013 groups after 20-27 weeks of treatment was 39.29% and 34.48%, respectively, approximately 2.2-2.5 times that of etelcalcetide (15.63%).
In addition, the proportion of patients in the MT1013 groups achieving a reduction of more than 30% in intact parathyroid hormone (iPTH) from baseline reached 83.9%-93.3%.
Clinical data from MT1013 have also been accepted as Late-Breaking Science by the American Society of Nephrology (ASN) Kidney Week.
Against this backdrop, Micot Pharma's commercialization partnership with Everest Medicines represents an important step in translating the clinical and scientific value of MT1013 into potential commercial value.
Positive Phase II Data for MT200605 Further Validate Its Potential as an Innovative Stroke Therapy
Shortly before the release of its interim results, Micot Pharma announced on August 26 that it had completed the Phase II clinical trial of MT200605, its internally developed candidate for the treatment of acute ischemic stroke (AIS).
The study was a multicenter, randomized, double-blind, placebo-controlled Phase II trial involving 360 patients, who were randomized at a 1:1:1:1 ratio into three MT200605 dose groups and a placebo group.
For the primary efficacy endpoint, the proportion of patients achieving a modified Rankin Scale (mRS) score of 0-1 in the high-dose MT200605 group was higher than that in the placebo group, with the odds ratio (OR) for functional recovery improving by more than 100% versus placebo.
From a clinical-benefit perspective, the results suggest that approximately one additional patient could achieve functional independence for every six patients treated.
The signal is noteworthy in the context of neuroprotection research, a field in which translating biological mechanisms into meaningful improvements in functional outcomes has historically been challenging.
For the secondary endpoints, improvement in National Institutes of Health Stroke Scale (NIHSS) scores in the high-dose group began to separate from placebo by Day 7. The direction of improvement was consistent with the mRS results, with a more pronounced difference observed by Day 14, suggesting faster early neurological recovery among patients receiving high-dose MT200605.
Another differentiated observation involved acute kidney injury (AKI).
MT200605 demonstrated the potential to reduce the incidence of AKI among patients with AIS in a dose-dependent manner. In the high-dose group, the incidence of AKI was more than 80% lower than that in the placebo group, indicating potential renal-protective benefits in addition to its neurological effects.
A Differentiated BDNF/TrkB-Based Mechanism Supporting Potential Brain and Kidney Protection
Mechanistically, MT200605 is a small molecule compound that acts as a tropomyosin receptor kinase B (TrkB) agonist with brain-derived neurotrophic factor (BDNF)-like effects.
By activating TrkB, it modulates downstream signaling pathways to protect the structure and function of brain neural tissues. Additionally, it enhances mitochondrial ATP synthesis and exerts antioxidant effects by scavenging oxygen free radicals.
This differentiated mechanism may also contribute to the renal-protective signal observed in the Phase II trial.
MT200605 has received recognition from both domestic and international scientific and regulatory communities. The program has been selected for China's National Science and Technology Major Project for Innovative Drug Development. Its preclinical and Phase I clinical findings have also been accepted for oral presentation at the 18th World Stroke Congress.
In addition, the U.S. Food and Drug Administration granted Orphan Drug Designation to MT200605 for the treatment of Huntington's disease in March 2026.
A Multi-Layered Pipeline Strengthens Micot Pharma's Capacity for Sustained R&D Output
Beyond MT1013 and MT200605, Micot Pharma is building a broader pipeline spanning different stages of clinical development.
XTL6001, a GLP-1R/GCGR/MasR triple agonist, has completed database lock for its Phase I clinical trial. By incorporating MasR into its mechanism of action, XTL6001 is designed to extend its therapeutic potential beyond weight management and metabolic regulation toward renal protection and anti-inflammatory and anti-fibrotic effects.
Research relating to XTL6001 has been accepted for presentation at several major international scientific conferences, including the American Diabetes Association (ADA) Scientific Sessions 2026, the European Association for the Study of Diabetes (EASD) Annual Meeting 2026 and ASN Kidney Week 2026.
Meanwhile, MT1002 continues to advance across indications including anticoagulation during hemodialysis and acute ischemic stroke, further expanding Micot Pharma's development footprint in cardiovascular, cerebrovascular and renal diseases.
Entering an Accelerated Validation Phase for R&D Outcomes
Taken together, the most important takeaway from Micot Pharma's 2026 interim results is not whether a clinical-stage biotechnology company can achieve near-term profitability.
Rather, three developments are taking place simultaneously.
First, MT1013 has entered the critical late-stage clinical development period ahead of a potential NDA submission, while its commercialization partnership with Everest Medicines has established a clearer pathway toward commercialization.
Second, the Phase II results of MT200605 have provided further clinical evidence supporting the therapeutic potential of its differentiated mechanism in acute ischemic stroke.
Third, proceeds from the Company's Hong Kong listing, together with the upfront payment received under the MT1013 commercialization agreement, have substantially strengthened Micot Pharma's liquidity and capital structure, providing greater financial flexibility to advance its clinical pipeline.
For investors and industry observers, these developments may represent the central theme through which Micot Pharma's first interim results following its Hong Kong listing should be understood: the Company is moving from a stage dominated by R&D investment toward one in which clinical progress, external partnerships and pipeline value are increasingly being validated through tangible milestones.
TORONTO, Aug. 25, 2026 (GLOBE NEWSWIRE) -- Osisko Gold Group Inc. (NYSE: OGG, TSXV: OGG) ("Osisko Gold" or the "Company") announces that Alexander Dann has advised the Company of his intention to retire and will be stepping down from his role as Chief Financial Officer ("CFO") and Vice President, Finance, capping a distinguished 35-year career. Mr. Dann will remain with the Company for a transition period to support an orderly handover of responsibilities. As part of the Company's planned leadership succession process, Elijah Tyshynski will be appointed CFO and will join the senior leadership team following a period of transition, bringing extensive financial and capital markets experience as the Company enters its next stage of growth.
Sean Roosen, Chairman and CEO, commented: "We thank Alex for his significant contributions and leadership over the past five years. He was instrumental in guiding the Company through an important period and ensuring it enters its next phase of growth from a position of financial strength. On behalf of the Board of Directors and our entire team, I extend our sincere appreciation to Alex for his exemplary service and wish him all the best in his well-earned retirement. Elijah joins the Company at a pivotal time and inherits a robust balance sheet. We believe his experience and capabilities will help maintain the financial discipline required to execute our growth strategy and deliver long-term value for all shareholders."
Reflecting on his tenure, Mr. Dann commented: "Serving as CFO of Osisko Gold has been a privilege, and I am grateful to have worked alongside such a talented team. The Company is well-positioned for continued success, and I am confident the team will carry that momentum forward."
Elijah Tyshynski Biography
Mr. Tyshynski joins Osisko Gold from ATEX Resources Inc. where he served as Chief Financial Officer and Corporate Secretary from 2025 following the sale of O3 Mining to Agnico Eagle Mines ("Agnico"). During his time with O3 Mining, he acted as Chief Financial Officer and Corporate Secretary and oversaw financial and regulatory reporting, financings, implementation of internal policies and processes, and the eventual transaction with Agnico. Prior to, and during his time with O3 Mining, Mr. Tyshynski worked with Osisko Mining as the Director of Strategic Development, along with providing capital markets and strategic advice to other companies within the Osisko Group. Mr. Tyshynski background includes extensive infrastructure financing and structuring experience across developed and emerging markets, including at the sovereign and supranational levels, having held the position of Senior Portfolio Manager at Ontario Teachers Pension Plan, Head of Trading for the Standard Bank of South Africa in Johannesburg, and Vice President of Emerging Market Trading for both Morgan Stanley and Royal Bank of Canada in London, England.
ABOUT OSISKO GOLD GROUP INC.Osisko Gold Group Inc. is a continental North American gold development company focused on past producing mining camps with district-scale potential. The Company's objective is to become an intermediate gold producer through the development of its flagship, fully permitted, 100%-owned Cariboo Gold Project, located within the Company's broader Cariboo regional land package in central British Columbia, Canada, which hosts numerous prospective exploration targets and provides opportunities for future discoveries. Its Cariboo project pipeline is complemented by the Tintic Project, located in the historic East Tintic mining district in Utah, U.S.A., a brownfield property with significant exploration potential, extensive historical mining data, and access to established infrastructure. Osisko Gold is focused on developing long-life mining assets in mining-friendly jurisdictions while maintaining a disciplined approach to capital allocation, development risk management, and mineral inventory growth.
For further information, visit our website at www.osiskogold.ca or contact:
Sean Roosen
Philip Rabenok
Chairman and CEO
Vice President, Investor Relations
Email: [email protected]
Email: [email protected]
Tel: +1 (514) 940-0685Tel: +1 (437) 423-3644
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended) (collectively, "forward-looking statements"). Such forward-looking statements relate to, among other things: the anticipated retirement of Mr. Dann and his continued service during the transition period; the timing and completion of the planned leadership transition; the appointment of Mr. Tyshynski as CFO and his joining the Company’s senior leadership team; the anticipated benefits of the leadership transition and Mr. Tyshynski’s experience and capabilities; and the Company’s ability to maintain financial discipline, execute its growth strategy and deliver long-term value for shareholders; the Company’s objective of becoming an intermediate gold producer; and the exploration potential and prospectivity of its properties. Forward-looking statements are identified with words such as "may", "will", "would", "could", "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee", "objective", "strategy", variants of these words or the negative or comparable terminology, as well as terms usually used in the future and the conditional. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including: the leadership transition proceeding on the anticipated terms and timeline; Mr. Dann remaining available to support an orderly handover of responsibilities; Mr. Tyshynski joining the Company and assuming the role of CFO as contemplated; the continuity and effective operation of the Company’s finance function throughout the transition; the Company continuing to have access to sufficient financial, managerial and other resources to execute its growth strategy; the absence of material adverse changes affecting the Company’s business, financial position or operations as a result of the leadership transition; the ability to develop the Cariboo Gold Project and its status as being fully permitted; the Company’s objective of becoming an intermediate gold producer; and the exploration potential and potential for future discoveries (if any) of its properties. Such forward-looking statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. These assumptions include, but are not limited to: the absence of any work stoppages or suspensions at the Company's projects; favourable regulatory conditions and approvals; the ability to maintain adequate personnel and contractor levels; the absence of unforeseen ground conditions or other geological challenges; the availability of necessary equipment, supplies and infrastructure; and general economic and market conditions. Actual results could differ materially due to a number of factors, including, without limitation: delays or changes in the anticipated timing or implementation of the leadership transition; the inability to complete an orderly and effective handover of responsibilities; disruption to the Company’s finance function, financial reporting, internal controls, treasury or financing activities; challenges associated with leadership succession and the integration of a new CFO; the Company’s inability to maintain financial discipline or execute its growth strategy as contemplated; adverse changes in the Company’s business, financial position, operating environment or access to capital; risks related to the exploration, development and operation of the Cariboo Gold Project; changes in estimated project costs, development timeline, or construction schedule; health, safety and security incidents; regulatory delays or changes in regulatory framework and applicable laws; labour shortages or disputes; general economic and market conditions and business conditions in the mining industry; fluctuations in commodity and currency exchange rates; as well as those risks and factors disclosed in the Company's most recent annual information form, financial statements and management's discussion and analysis as well as other public filings on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov). Although the Company believes the expectations conveyed by the forward-looking statements are reasonable based on information available as of the date hereof, no assurances can be given as to future results, levels of activity and achievements. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. Forward-looking statements are not guarantees of performance and there can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
OR Royalties NYSE: OR reported second-quarter revenue of $97.8 million and operating cash flow of $83.2 million, with both measures rising 62% from a year earlier as realized gold and silver prices increased and gold-equivalent-ounce deliveries grew 5%.
MONTRÉAL, Aug. 05, 2026 (GLOBE NEWSWIRE) -- OR Royalties Inc. (“OR Royalties” or the “Company”) (OR: TSX & NYSE) is pleased to announce that the Company's Board of Directors has approved a third quarter 2026 dividend of US$0.065 per common share. The dividend will be paid on October 15, 2026 to shareholders of record as of the close of business on September 30, 2026. This dividend is an "eligible dividend" as defined in the Income Tax Act (Canada).
MONTRÉAL, Aug. 05, 2026 (GLOBE NEWSWIRE) -- OR Royalties Inc. ("OR Royalties" or the "Company") (OR: TSX & NYSE) today announced its consolidated financial results for the second quarter of 2026. Quarterly revenues grew 62% year-over-year on a 5% increase in gold equivalent ounces earned, due in part to contributions from recently acquired assets. With 96.8% of revenues converting to cash margin, this growth in revenues and cash flows reflects the peer-leading leverage of the Company's royalty and streaming model to higher precious metals prices. Amounts presented are in United States dollars unless otherwise noted.
OR Royalties is evolving into a mid-tier royalty platform, diversifying beyond its legacy Canadian Malartic asset. OR delivers high-margin cash flow, a robust five-year growth profile, and significant exploration optionality without requiring direct sustaining capital from shareholders. Recent acquisitions, including Namdini, San Gabriel, and Spring Valley royalties, enhance both immediate revenue and future growth optionality.
MONTRÉAL, July 02, 2026 (GLOBE NEWSWIRE) -- OR Royalties Inc. (“OR Royalties” or the “Company”) (OR: TSX & NYSE) notes that today, its operating partner, Agnico Eagle Mines Limited (“Agnico Eagle”), reported that a rock mass movement occurred on July 1, 2026, along the north wall of the Barnat open pit at the Canadian Malartic Complex (“Canadian Malartic”) in Québec, Canada. There were no injuries, equipment damage or environmental impact as a result of the event. As a precautionary measure, Agnico Eagle has temporarily suspended mining operations in the Barnat open pit. Agnico Eagle's technical teams are conducting a detailed geotechnical assessment to confirm the stability of the affected area and determine the appropriate path forward. Planning activities are underway to support the safe and orderly resumption of operations in the Barnat pit.
OR Royalties (NYSE: OR - Get Free Report) and Mountain Province Diamonds (OTCMKTS:MPVDF - Get Free Report) are both basic materials companies, but which is the superior investment? We will contrast the two companies based on the strength of their profitability, analyst recommendations, dividends, risk, valuation, earnings and institutional ownership. Volatility and Risk OR Royalties has
MONTRÉAL, March 23, 2026 (GLOBE NEWSWIRE) -- OR Royalties Inc. (“OR Royalties” or the “Company”) (OR: TSX & NYSE) is pleased to announce the appointment of Mr. Patrick Godin as an Independent Director to its Board of Directors (the “Board”).
MONTREAL, March 30, 2026 (GLOBE NEWSWIRE) -- OR Royalties Inc. (“OR Royalties” or the “Company”) (OR: TSX & NYSE) announces that its Annual Information Form, Consolidated Annual Financial Statements and Management's Discussion and Analysis for the year ended December 31, 2025 have been filed with Canadian securities regulatory authorities. OR Royalties has also filed its Annual Report on Form 40-F for the year ended December 31, 2025 with the U.S. Securities and Exchange Commission. Copies of these documents may be obtained via www.sedarplus.ca , www.sec.gov (for the Form 40-F) or www.ORroyalties.com .
Shares of Osisko Gold Royalties Ltd (TSE:OR – Get Free Report) have been assigned an average rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is C$50.50.
Several equities analysts have issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Osisko Gold Royalties from C$61.00 to C$70.00 in a research note on Tuesday, February 10th. TD Securities cut their target price on Osisko Gold Royalties from C$67.00 to C$64.00 and set a “hold” rating on the stock in a research report on Monday, February 23rd.
Read Our Latest Analysis on OR
Osisko Gold Royalties Price Performance Osisko Gold Royalties stock opened at C$55.40 on Friday. The company’s 50 day simple moving average is C$56.36 and its 200-day simple moving average is C$52.60. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.98 and a current ratio of 4.53. Osisko Gold Royalties has a 1 year low of C$27.08 and a 1 year high of C$65.54. The company has a market capitalization of C$10.39 billion, a price-to-earnings ratio of 50.83, a price-to-earnings-growth ratio of 1.31 and a beta of 1.69.
About Osisko Gold Royalties (Get Free Report)
OR Royalties is a precious metals royalty and streaming company focused on Tier-1 mining jurisdictions defined as Canada, the United States, and Australia. OR Royalties commenced activities in June 2014 with a single producing asset, and today holds a portfolio of over 195 royalties, streams and similar interests. OR Royalties’ portfolio is anchored by its cornerstone asset, the 3-5% net smelter return royalty on Agnico Eagle Mines Limited’s Canadian Malartic Complex, one of the world’s largest gold mines.
Further Reading Five stocks we like better than Osisko Gold Royalties
Receive News & Ratings for Osisko Gold Royalties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Osisko Gold Royalties and related companies with MarketBeat.com's FREE daily email newsletter.
Toronto, Ontario--(Newsfile Corp. - April 14, 2026) - Canadian Copper Inc. (CSE: CCI) ("Canadian Copper" or the "Company") announces that it has secured up to $96,000,000 ("Project Financing") in committed capital from OR Royalties Inc. ("OR Royalties"), a global top-5 precious metal streaming company, and Ocean Partners UK Limited ("Ocean Partners") to advance development of its 100%-owned Murray Brook Project and Caribou Process Plant ("Combined Strategy" or "Bathurst Complex"). The Project Financing represents a significant de-risking milestone as the Company aims to become a near-term critical mineral producer in Bathurst, New Brunswick, Canada.
Gold colored crown on black background. Horizontal composition.
getty
Gold has endured for centuries not because it’s the “next big thing,” but because it’s historically been seen as reliable when confidence in everything else starts to crack.
Take today’s environment. Inflation pressures persist, geopolitical tensions continue to simmer and fiscal discipline is, at best, optional. Against this backdrop, gold has once again stepped into the spotlight.
But I believe there’s a smarter way to gain exposure than simply owning bullion or mining companies.
Royalty and streaming companies have built one of the most attractive business models in the resource sector. They finance mines rather than operate them, securing rights to future production at fixed costs. This has resulted in strong margins, consistent cash flow and meaningful leverage to rising gold prices.
Below are the top 10 gold royalty and streaming companies based on market cap, counting down from 10. All figures are in U.S. dollars.
Metalla Royalty & Streaming represents a newer generation of royalty companies focused on growth. With a portfolio approaching 100 mines and other assets, the company has built exposure across gold, silver and copper projects in well-established mining jurisdictions.
What distinguishes Metalla is its emphasis on partnering with large, experienced operators. That approach has helped reduce operational risk while preserving upside tied to exploration success.
9. Gold Royalty Corp.Gold Royalty Corp.
Bloomberg
Gold Royalty has taken a different path, building its portfolio through a “royalty generation” model. Instead of simply acquiring royalties, it helps create them by advancing projects and then monetizing them.
This strategy has resulted in a large and growing portfolio with strong exposure to North America. While still developing its cash flow base, the company offers long-term optionality tied to project advancement and discovery.
8. Versamet RoyaltiesVersamet Royalties
Bloomberg
Versamet is in the middle of a transition. Having listed on Nasdaq as recently as March 2026, it’s now evolving into a mid-tier company anchored by a major gold stream on the Eskay Creek project in Canada.
That property provides near-term production visibility and scale, positioning Versamet for a potential re-rating as the project moves closer to full production. It’s a classic example of how one well-executed transaction can redefine a company’s trajectory.
7. LunR RoyaltiesLunR Royalties
Bloomberg
Founded in 2025, LunR is an emerging name built to bridge the gap between junior and senior royalty companies. Its strategy centers on acquiring high-quality, large-scale assets early, before they reach full production.
That timing introduces risk, but it also creates the potential for outsized returns if projects are successfully developed. As its portfolio matures, I believe LunR could develop into an important player in the space.
6. Altius MineralsAltius Minerals
Bloomberg
Altius offers something different. While it has exposure to precious metals, it also includes royalties tied to commodities such as potash, copper and even renewable energy.
This diversification can help smooth returns across cycles, while recent acquisitions have strengthened its balance sheet. It’s not a pure gold play, but that’s part of what some investors find interesting.
5. Triple Flag Precious MetalsTriple Flag Precious Metals
Bloomberg
Triple Flag has quickly established itself as a leading mid-tier company. Its portfolio spans more than 200 assets, supported by a disciplined investment approach and a strong pipeline of development-stage projects.
I believe the company’s focus on high-quality properties and stable jurisdictions gives it a balanced profile, combining growth potential with a measure of risk control.
4. OR RoyaltiesOR Royalties
Bloomberg
OR Royalties stands out for its emphasis on relatively safe jurisdictions such as Canada, the U.S. and Australia. In a world where geopolitical risk is rising, that can make a big difference.
The company’s assets have generated high cash margins and consistent performance, reflecting the strength of the royalty model when paired with high-quality locations. It offers investors a combination of safety and growth that is increasingly difficult to find.
3. Royal GoldRoyal Gold
Bloomberg
Royal Gold is one of the pioneers of the royalty and streaming model and remains a giant in the industry. Its portfolio spans hundreds of properties, providing broad exposure to gold and silver.
The company’s long track record of disciplined capital allocation and dividend growth speaks to the durability of its approach. For many investors, including us, Royal Gold represents a steady way to participate in the precious metals sector.
2. Franco-NevadaFranco-Nevada
Bloomberg
Many investors view Franco-Nevada as the gold standard for the entire industry. Its portfolio is highly diversified, with more than 100 producing assets and exposure that extends beyond precious metals into energy.
That diversification provides resilience while still delivering strong leverage to gold prices. Combined with a strong balance sheet and a history of attractive returns, I believe Franco-Nevada has more than earned its reputation as a core holding.
1. Wheaton Precious MetalsWheaton Precious Metals
Bloomberg
Wheaton Precious Metals sits at the top for a reason. It’s one of the largest and most focused streaming companies, with the majority of its revenue tied directly to gold and silver.
Wheaton’s portfolio consists largely of long-life, low-cost assets, giving it a powerful margin profile. Because its costs are fixed, rising gold prices flow directly to the bottom line. With a strong growth pipeline and proven ability to execute large transactions, Wheaton remains one of the most compelling ways to gain exposure to precious metals.
A Smarter Way to ParticipateRoyalty and streaming companies have reshaped how investors think about the gold industry. By removing many of the operational risks associated with mining, they offer what I see as a more efficient path to capturing the benefits of higher metal prices.
That said, many investors prefer not to rely on a single company. A diversified approach can provide broader exposure across the sector while helping manage risk.
OR Royalties (OR) derives 30–45% of revenue from silver streams, benefiting from structural deficits and elevated silver prices. Despite planned production declines at key assets in 2026, OR's margins remain robust, aided by favorable Au/Ag ratios and resilient gold/silver prices. OR trades at sector-comparable multiples, boasts a 96.7% gross margin, and maintains a net cash position, supporting its defensive profile.
Q1 2026 revenue was $3.00 billion. This is higher than the estimated revenue of $2,997.59 million.GAAP diluted EPS was $2.43. This is below the estimated EPS of $2.53.Adjusted diluted EPS was $2.65. This is higher than the estimated EPS of $2.53.Income from railway operations was $877 million; adjusted income from railway operations was $939 million.Operating ratio was 70.7%; adjusted operating ratio was 68.7%.Railway operating revenue increased by $5 million year over year and volumes declined by 1%.Prior-year GAAP diluted EPS was $3.31; prior-year adjusted diluted EPS was $2.69.Prior-year operating ratio was 61.7%; prior-year adjusted operating ratio was 67.9%.Current annual estimates: EPS of 12.06 and revenue of $12,589.00 million. On April 24, 2026, Norfolk Southern Corp NSC released its 8-K filing detailing first quarter 2026 results. The Class I railroad operates in the Eastern United States. On more than 20,000 miles of track, the rail hauls shipments of coal, intermodal traffic, and a diverse mix of automotive, agricultural, metal, chemical, and forest products.
Quarterly performance and estimate comparison Norfolk Southern Corp NSC reported first quarter 2026 revenue of $3.0 billion, described as flat year over year with a $5 million increase on a 1% volume decline. Revenue was $3.00 billion, which is higher than the estimated revenue of $2,997.59 million. GAAP diluted EPS was $2.43, down 27% from $3.31 a year ago. GAAP diluted EPS was $2.43, which is below the estimated EPS of $2.53.
Adjusting for merger-related expenses and the effects of the Eastern Ohio incident, adjusted diluted EPS was $2.65, down 1% from $2.69 a year ago. Adjusted diluted EPS was $2.65, which is higher than the estimated EPS of $2.53. On the operating line, income from railway operations was $877 million, down 23% year over year, while adjusted income from railway operations was $939 million, down 2% versus the adjusted prior-year period.
“In the first quarter, our team stayed focused on what we could control, operating with discipline amid volatile volumes, severe winter weather, and a rapidly shifting macroeconomic environment including the dramatic rise in fuel prices in March,” said Mark George, president and chief executive officer of Norfolk Southern. “Despite these challenges, our employees safely delivered a solid service product, managed costs effectively, and earned the continued trust of our customers. As conditions improved, we captured momentum exiting the quarter, reinforcing the strength of our operating foundation and the dedication of the entire Norfolk Southern team.”Operating efficiency and adjustments The operating ratio (OR) was 70.7% versus 61.7% a year ago. The adjusted operating ratio was 68.7%, which is 80 basis points higher than the adjusted 67.9% in the prior year. For railroads, the operating ratio is a core efficiency metric; higher ratios indicate greater cost intensity against revenue, which can pressure margins when volumes soften or fuel costs rise.
Management provided a non-GAAP reconciliation to isolate the impact of merger-related expenses and the Eastern Ohio incident. These adjustments are important for investors seeking to evaluate underlying operations amid one-time items and episodic disruptions.
Q1 2026 (in millions, except per-share and %) Income from railway operations$877 Merger-related expenses and effect of the Eastern Ohio incident+62 Adjusted income from railway operations$939 Operating ratio70.7% Adjustment (merger-related and incident)-2.0% Adjusted operating ratio68.7% Diluted EPS$2.43 Adjustment (merger-related and incident)+0.22 Adjusted diluted EPS$2.65 Q1 2025 (comparative) Income from railway operations$1,146 Effect of the Eastern Ohio incident(185) Adjusted income from railway operations$961 Operating ratio61.7% Effect of the Eastern Ohio incident+6.2% Adjusted operating ratio67.9% Diluted EPS$3.31 Effect of the Eastern Ohio incident(0.62) Adjusted diluted EPS$2.69Performance context, challenges, and what matters for investors The quarter unfolded against volatile volumes, severe winter weather, and a spike in fuel prices. For a network railroad, each of these factors can inflate operating expenses and elongate cycle times, which tend to raise the operating ratio and dampen income from railway operations. The 1% volume decline and fuel cost pressures help explain the year-over-year deterioration in GAAP operating ratio and the decline in GAAP EPS.
Adjusted results show a narrower year-over-year variance. Adjusted income from railway operations declined 2%, and adjusted EPS declined 1%. This indicates that, excluding the merger-related items and the ongoing effects tied to the Eastern Ohio incident, underlying operations were comparatively stable. In the transportation sector, holding service levels and costs in check during weather and fuel shocks is a key differentiator, as it preserves customer trust and network fluidity.
Financial statement takeaways and key metrics The filing emphasizes the income statement and operating metrics central to rail analysis: revenue, volumes, income from railway operations, EPS, and operating ratio. These are critical because they capture pricing and mix (revenue), demand and network utilization (volumes), core profitability (income from railway operations), shareholder earnings power (EPS), and cost discipline (operating ratio). Balance sheet and cash flow details were not included in the provided excerpt, so leverage, liquidity, and free cash flow were not disclosed here.
For additional context, current annual estimates stand at EPS of 12.06 and revenue of $12,589.00 million. While these figures offer a benchmark for the full year, investors will likely monitor how service consistency, fuel dynamics, and any remaining incident or merger-related effects influence operating ratio and earnings conversion in subsequent quarters.
Analysis Norfolk Southern Corp NSC modestly exceeded revenue expectations and delivered an adjusted EPS beat, while GAAP EPS fell short. The spread between GAAP and adjusted outcomes highlights the impact of merger-related expenses and the Eastern Ohio incident in both the current and prior-year periods. The primary operational watchpoint is the operating ratio, which rose materially on a GAAP basis and was 80 basis points higher year over year on an adjusted basis. Sustained cost control and stable service will be essential to protect margins if volumes remain uneven and fuel volatility persists.
GuruFocus Valuation Check Based on GuruFocus’ proprietary metrics, Norfolk Southern Corp NSC appears overvalued relative to its GF Value. The GF Value is $246.73, while the current price is $321.44, indicating the shares trade about 30.3% above fair value. This suggests a limited margin of safety at current levels.
The company’s GF Score is 86/100, which is considered strong and reflects a compelling blend of quality and execution. A Profitability Rank of 9/10 indicates durable earnings power, while a Growth Rank of 7/10 points to solid expansion prospects within the industry context. However, Financial Strength at 4/10 is middling, signaling that investors should keep an eye on leverage and balance sheet flexibility. Predictability at 4.5 stars and a Moat Score of 7/10 reinforce the view that earnings are relatively consistent and competitive advantages are meaningful for a Class I railroad.
Insider Activity shows no insider transactions in the last 3 months. The absence of notable insider buying or selling is neutral and does not provide a strong directional signal. For a deeper dive, visit the Norfolk Southern Corp stock page on GuruFocus.
Explore the complete 8-K earnings release (here) from Norfolk Southern Corp for further details.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Norfolk Southern Corp (NSC) Q1 2026 Earnings Call Highlights: Navigating Challenges with Strategic Efficiency Despite flat revenue and intermodal challenges, Norfolk Southern Corp (NSC) showcases resilience with improved safety metrics and strategic cost management. Summary
Adjusted Operating Ratio: 68.7%EPS (Earnings Per Share): $2.65 per shareTotal Adjusted Expenses: Up 1% year-over-yearRevenue: Flat year-over-yearRPU (Revenue Per Unit): Up 2%Merchandise Volume and Revenue: Increased 1% from a year agoIntermodal Volumes: Decreased 4%Intermodal Revenue: Declined 1%Coal Volume: Increased 9%Coal Revenue: Declined 2%Fuel Price Impact: $31 million higher than last yearFuel Efficiency Savings: Over $30 millionFRA Personal Injury Ratio: 1.10FRA Accident Ratio: 1.43 (37% improvement year-over-year)Gross Ton Miles: Increased 1.1%
Release Date: April 24, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points Norfolk Southern Corp NSC successfully navigated challenging winter weather, maintaining solid momentum and focusing on safe operations.The company's safety performance continues to excel, with a reduction in FRA reportable accident rates and improvements in safety culture.NSC demonstrated cost discipline, with total adjusted expenses up just 1% year-over-year despite inflationary pressures and higher fuel prices.The company saw strength and encouraging results across multiple business segments, reflecting focused investments and improved coordination.NSC achieved a fuel efficiency record, strengthening its competitive position in a high fuel price environment while protecting margins. Negative Points Volume finished down 1% primarily due to challenging intermodal market conditions and merger-related losses.Revenue ended the quarter flat year-over-year, with some business segments experiencing revenue declines due to mix headwinds.The macroeconomic environment remains uncertain, with dynamic and shifting supply chains impacting customer demand.Fuel prices surged unexpectedly, resulting in expenses that were $40 million higher than anticipated in March alone.The company faces competitive pressures in the intermodal segment, particularly related to merger activities and increased competitor activity. Q & A Highlights Q: Can you clarify the normal operating ratio (OR) seasonality from Q1 to Q2, and discuss competitive activity in Intermodal related to the merger?
A: Jason Zampi, CFO, explained that despite headwinds like inflation and fuel costs, they expect a typical sequential OR improvement of about 200 basis points due to productivity initiatives. Ed Elkins, Chief Commercial Officer, noted that competitive activity is primarily an Intermodal story, and they are focused on maximizing earnings from both road and other modes.
Q: Why is merchandise RPU ex-fuel flat, and what are your thoughts on the merger application?
A: Ed Elkins attributed the flat RPU to mix, particularly growth in lower-rated chemicals commodities, while maintaining strong core pricing. Mark George, CFO, expressed confidence in the merger application, noting that customer feedback has been positive and the revised application will strengthen their case for a single-line transcontinental railroad.
Q: Can you provide details on fuel and weather-related costs for the quarter, and discuss the market outlook for 2026?
A: Jason Zampi reported a $31 million increase in fuel costs year-over-year, with March alone exceeding expectations by over $40 million. John Orr, COO, added that storm costs were about $10 to $15 million. Ed Elkins highlighted optimism in domestic Intermodal and coal markets, with opportunities in energy-related sectors due to global disruptions.
Q: What are your thoughts on the new short line partnership initiative, and is it replicable in other regions?
A: Ed Elkins described the partnership with Jaguar Transport Holdings as innovative, focusing on growth in a high-density corridor. He expressed confidence in its success and potential replication in other regions to deliver exceptional value to customers.
Q: How should we think about fuel consumption and headcount trends going forward?
A: John Orr explained that while fuel consumption improvements are ongoing, some accounting adjustments contributed to recent gains. He emphasized a focus on labor productivity and strategic hiring to maintain service levels and absorb growth, with headcount adjustments based on market conditions and crew base needs.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
MONTREAL, May 06, 2026 (GLOBE NEWSWIRE) -- OR Royalties Inc. (the “Company” or “OR Royalties”) (OR: TSX & NYSE) is pleased to announce that its Board of Directors has approved a second quarter 2026 dividend of US$0.065 per common share, an 18.2% increase over the previous quarterly dividend. The dividend will be paid on July 15, 2026 to shareholders of record as of the close of business on June 30, 2026. This increased quarterly dividend is intended to be applied to all subsequent quarters, or until further notice is provided. The declaration, timing, amount and payment of future dividends remain at the discretion of the Company's Board of Directors. This dividend is an "eligible dividend" as defined in the Income Tax Act (Canada).
MONTREAL, May 07, 2026 (GLOBE NEWSWIRE) -- OR Royalties Inc. (the “Corporation” or “OR Royalties”) (OR: TSX & NYSE) announces that, at the annual meeting of shareholders held on May 7, 2026, each of the 7 nominees listed in the management information circular filed on April 16, 2026 (the “Circular”) with regulatory authorities were elected as directors of the Corporation. There were 153,620,646 common shares present or represented at the meeting or 81.96% of the 187,441,610 common shares issued and outstanding on March 27, 2026, being the record date for the meeting.
OR Royalties NYSE: OR reported a record first quarter of 2026, with President and CEO Jason Attew saying the company is “off to an impressive start” as stronger production from its royalty and streaming portfolio combined with robust precious metals prices.
