Welcome to our dedicated page for Osisko Gold Royalties news (Ticker: OR), a resource for investors and traders seeking the latest updates and insights on Osisko Gold Royalties stock.
Osisko Gold Royalties Ltd (symbol: OR) is an intermediate precious metal royalty company primarily focused on the Americas. Since its inception in June 2014, Osisko has built a diversified portfolio that includes over 130 royalties, streams, and precious metal offtakes. The company's core business revolves around acquiring and managing these assets to generate steady revenue streams.
Portfolio and Key Assets:
- Canadian Malartic Mine: Osisko holds a 5% net smelter return royalty on the largest gold mine in Canada, the Canadian Malartic Mine.
- Publicly Held Resource Companies: Osisko's portfolio includes significant stakes in various publicly traded companies, such as a 15.5% interest in Osisko Mining Inc., 12.8% in Osisko Metals Incorporated, 12.7% in Falco Resources Ltd., and 32.7% in Barkerville Gold Mines Ltd.
Business Segments: The company operates under two main segments:
- Precious Metals and Royalties: This segment focuses on acquiring and managing royalties, streams, and other similar interests in high-quality precious metal projects.
- Exploration and Development: In addition to managing its royalty portfolio, Osisko is involved in the exploration, evaluation, and development of mining projects.
Geographical Reach: While Osisko generates the majority of its income from North America, it also has interests in projects across South America, Australia, Africa, and Europe.
Financial Performance: Osisko reported record annual revenues of $247.3 million and operating cash flows of $187.0 million for the year ending December 31, 2023. The company's strong financial performance reflects its strategic acquisitions and effective management of its extensive portfolio.
With its robust portfolio and strong financial base, Osisko Gold Royalties Ltd continues to be a significant player in the precious metals industry, offering investors diversified exposure to high-quality royalty and streaming assets.
Osisko Gold Royalties announced the results of its annual meeting of shareholders, reporting the election of 9 nominees as directors of the A total of 149,592,121 common shares were present, representing 80.47% of the outstanding shares. The also appointed PricewaterhouseCoopers, LLP as independent auditor and approved various resolutions related to share purchase plans. Osisko Gold Royalties is an intermediate precious metal royalty company with a diverse portfolio of over 185 royalties and streams, anchored by a significant net smelter return royalty on the Canadian Malartic Complex.
Osisko Gold Royalties has declared an 8% increase in the second quarter 2024 dividend, amounting to C$0.065 per common share. This marks the 39th consecutive quarterly dividend, to be paid on July 15, 2024, to shareholders of record as of June 28, 2024. The Company also offers a dividend reinvestment plan for shareholders in Canada and the United States.
Osisko Gold Royalties reported strong Q1 2024 results with operating cash flows of $50.4 million, cash margin of 97%, an 8% increase in quarterly dividend, and various financial achievements. The company earned 22,259 gold equivalent ounces, generated $60.8 million in revenues from royalties and streams, had net earnings of $15.1 million, and adjusted earnings of $29.7 million. Additionally, Osisko made repayments on its credit facility, had a cash balance of $70.6 million, and appointed a new board member. Following the quarter, the company made additional repayments on its credit facility, extended the maturity date, published sustainability reports, declared an increased dividend, and expects stronger GEO deliveries in the future. The CEO expressed confidence in the company's performance and growth prospects.
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