Preliminary Q3 results show strong operational momentum driven by elevated precious metals prices. The full Q3 earnings release on November 11, 2026 will provide audited figures and management commentary on production sustainability and portfolio growth. Monitor the conference call for guidance on 2027 GEO delivery expectations and potential new royalty/stream acquisitions.
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Executive Summary
OR Royalties reported preliminary Q3 2026 results with 20,237 attributable gold equivalent ounces, revenues of $90.2 million, and a cash margin of $87.3 million (96.8%). Compared to Q3 2025, revenues grew 26% from $71.6 million, driven by higher gold, silver, and copper prices. The company also repurchased $29.1 million in shares and closed a $15.0 million royalty transaction, while maintaining a strong liquidity position with $76.7 million cash and $621.8 million available on its credit facility.
Key Facts
- Preliminary Q3 2026 GEOs: 20,237 attributable gold equivalent ounces
- Preliminary Q3 2026 revenues: $90.2 million (up from $71.6 million in Q3 2025)
- Preliminary Q3 2026 cash margin: $87.3 million (96.8% of revenues)
- Cash position at Sep 30, 2026: $76.7 million
- Share repurchases under NCIB: $29.1 million (C$40.8 million) during Q3
- La Verde royalty transaction closed for $15.0 million, financed from cash
- Revolving credit facility drawn by $228.2 million, with $621.8 million available capacity plus $350.0 million uncommitted accordion
- Average gold price Q3 2026: $4,262/oz vs $3,457/oz in Q3 2025
- Average silver price Q3 2026: $62.59/oz vs $39.40/oz in Q3 2025
- Average copper price Q3 2026: $14,104/tonne vs $9,797/tonne in Q3 2025
Financial Impact
Revenue increased 26% YoY to $90.2 million; cash margin improved to $87.3 million from $69.3 million; share buybacks of $29.1 million; $15.0 million royalty acquisition
Risk Factors
- Preliminary figures are unaudited and subject to quarter-end adjustments
- Revenue growth is highly dependent on volatile commodity prices (gold, silver, copper)
- Credit facility drawn at $228.2 million increases leverage; interest rate sensitivity
- Share buybacks reduce cash available for acquisitions
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001171843-26-006482 |
| Document: f6k_100726.htm | 0001171843-26-006482 |
| Document: 0001171843-26-006482-index-headers.html | 0001171843-26-006482 |
| Document: 0001171843-26-006482-index.html | 0001171843-26-006482 |
| Document: 0001171843-26-006482.txt | 0001171843-26-006482 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | SC 13G/A | $33.64 | awaiting T+1 | — | $34.10 (+1.37%) |
Oct 7, 2026 20d ago | 6-K | $33.92 $34.18 | ▲ +0.77% | ▲ +1.19% | $34.10 (+0.53%) |
Jul 8, 2026 15w ago | 6-K | $29.23 $29.75 | ▲ +1.78% | ▲ +0.93% | $34.10 (+16.66%) |
Jul 2, 2026 16w ago | 6-K | $31.44 $30.81 | ▲ +2.00% | ▲ +2.88% | $34.10 (−8.46%) |
Jun 11, 2026 19w ago | Institutional Cluster | $32.74 $33.83 | ▲ +3.33% | ▲ +2.79% | $34.10 (+4.15%) |
May 7, 2026 24w ago | 6-K | $38.42 $39.80 | ▲ +3.59% | ▲ +3.36% | $34.10 (−11.24%) |
May 6, 2026 24w ago | 6-K | $37.48 $38.42 | ▲ +2.51% | ▲ +1.68% | $34.10 (−9.02%) |
Apr 16, 2026 27w ago | 6-K | $40.87 $42.62 | ▲ +4.28% | ▲ +3.07% | $34.10 (−16.56%) |
Apr 14, 2026 28w ago | 6-K | $40.11 $40.13 | ▲ +0.05% | ▼ −0.73% | $34.10 (−14.98%) |
Apr 14, 2026 28w ago | Press Release | $40.11 $40.13 | ▲ +0.05% | ▼ −0.73% | $34.10 (−14.98%) |
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