OR Royalties Inc. Common Shares (OR)

FairStock Score: 59/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I favor royalty companies because they can be toll roads on other people’s mining capital, and OR Royalties fits that mold. It owns precious-metal royalties and streams, anchored by a 3–5% net smelter return royalty on the Canadian Malartic complex. In fiscal Q2 2026, the company showed revenue of $97.8M and net income of $61.4M, a 62.76% net margin. Those are wonderful economics, and the balance sheet supports them: debt-to-equity is 0.15 and the Altman Z-Score is 12.05. Returns are solid, with ROE of 20.41% and ROCE of 10.61%. The moat comes from royalty contracts that typically require no mine capex, though the portfolio is concentrated in one primary asset. Valuation is the rub. At the 2026-10-13 close of $34.52, the market cap is $7.4B, P/E 23.01, P/B 4.36, and EV/EBITDA 19.81. The Graham Number is $16.35, leaving a -111.13% margin of safety, and trailing free cash flow is -$91.9M, a -1.2% FCF yield. The Piotroski F-Score is 4/9. Growth looks strong in the provided data, but value investors must weigh that against cash burn and a full price. FairStock scores it 59/100, and the Lynch category is none because only 0 years of filed results are available—three are needed. OR is a high-quality royalty business, but not a bargain on these figures.

In plain English: The company earns money by owning rights to receive payments from gold and other mining projects, mainly through a royalty on the Canadian Malartic complex. The business looks quite profitable, with strong recent quarterly profit and low debt, but it used more cash than it generated over the past year. At $34.52, the price looks expensive compared with the company's stated book value and a conservative value estimate based on its numbers.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer