Intrinsic value of Osisko Gold Royalties - OR

Previous Close

$7.05

  Intrinsic Value

$8.73

stock screener

  Rating & Target

buy

+24%

Previous close

$7.05

 
Intrinsic value

$8.73

 
Up/down potential

+24%

 
Rating

buy

We calculate the intrinsic value of OR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  268
  414
  619
  898
  1,268
  1,743
  2,339
  3,071
  3,952
  4,992
  6,199
  7,578
  9,135
  10,868
  12,779
  14,865
  17,123
  19,550
  22,142
  24,894
  27,803
  30,867
  34,082
  37,447
  40,962
  44,628
  48,445
  52,417
  56,546
  60,838
Variable operating expenses, $m
  9
  9
  10
  10
  11
  12
  13
  14
  16
  18
  11
  14
  17
  20
  24
  27
  32
  36
  41
  46
  51
  57
  63
  69
  76
  82
  89
  97
  104
  112
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  9
  9
  10
  10
  11
  12
  13
  14
  16
  18
  11
  14
  17
  20
  24
  27
  32
  36
  41
  46
  51
  57
  63
  69
  76
  82
  89
  97
  104
  112
Operating income, $m
  259
  405
  609
  888
  1,256
  1,731
  2,326
  3,057
  3,936
  4,974
  6,187
  7,564
  9,118
  10,848
  12,756
  14,838
  17,092
  19,514
  22,101
  24,848
  27,752
  30,810
  34,019
  37,378
  40,887
  44,545
  48,356
  52,320
  56,442
  60,726
EBITDA, $m
  294
  454
  679
  985
  1,390
  1,911
  2,565
  3,368
  4,333
  5,473
  6,797
  8,310
  10,016
  11,917
  14,012
  16,300
  18,776
  21,437
  24,279
  27,296
  30,486
  33,845
  37,371
  41,061
  44,916
  48,935
  53,121
  57,476
  62,004
  66,710
Interest expense (income), $m
  0
  20
  36
  59
  91
  135
  194
  269
  363
  479
  618
  782
  973
  1,191
  1,437
  1,711
  2,013
  2,343
  2,700
  3,083
  3,493
  3,928
  4,388
  4,872
  5,380
  5,912
  6,468
  7,047
  7,651
  8,278
  8,931
Earnings before tax, $m
  239
  369
  551
  797
  1,121
  1,537
  2,057
  2,694
  3,457
  4,356
  5,405
  6,591
  7,926
  9,411
  11,044
  12,825
  14,749
  16,814
  19,017
  21,355
  23,824
  26,422
  29,147
  31,998
  34,974
  38,078
  41,308
  44,669
  48,164
  51,795
Tax expense, $m
  65
  100
  149
  215
  303
  415
  555
  727
  933
  1,176
  1,459
  1,780
  2,140
  2,541
  2,982
  3,463
  3,982
  4,540
  5,135
  5,766
  6,432
  7,134
  7,870
  8,639
  9,443
  10,281
  11,153
  12,061
  13,004
  13,985
Net income, $m
  175
  269
  402
  582
  818
  1,122
  1,502
  1,967
  2,524
  3,180
  3,946
  4,812
  5,786
  6,870
  8,062
  9,362
  10,767
  12,274
  13,883
  15,589
  17,391
  19,288
  21,277
  23,358
  25,531
  27,797
  30,155
  32,609
  35,159
  37,810

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,792
  4,313
  6,450
  9,359
  13,204
  18,152
  24,365
  31,993
  41,167
  51,997
  64,569
  78,942
  95,151
  113,211
  133,116
  154,846
  178,370
  203,649
  230,643
  259,311
  289,616
  321,526
  355,017
  390,074
  426,690
  464,873
  504,636
  546,007
  589,024
  633,734
Adjusted assets (=assets-cash), $m
  2,792
  4,313
  6,450
  9,359
  13,204
  18,152
  24,365
  31,993
  41,167
  51,997
  64,569
  78,942
  95,151
  113,211
  133,116
  154,846
  178,370
  203,649
  230,643
  259,311
  289,616
  321,526
  355,017
  390,074
  426,690
  464,873
  504,636
  546,007
  589,024
  633,734
Revenue / Adjusted assets
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
  0.096
Average production assets, $m
  192
  297
  445
  645
  910
  1,251
  1,679
  2,205
  2,838
  3,584
  4,451
  5,441
  6,559
  7,803
  9,175
  10,673
  12,295
  14,037
  15,898
  17,874
  19,963
  22,162
  24,471
  26,887
  29,411
  32,043
  34,784
  37,635
  40,600
  43,682
Working capital, $m
  -12
  -19
  -28
  -40
  -57
  -78
  -105
  -138
  -178
  -225
  -279
  -341
  -411
  -489
  -575
  -669
  -771
  -880
  -996
  -1,120
  -1,251
  -1,389
  -1,534
  -1,685
  -1,843
  -2,008
  -2,180
  -2,359
  -2,545
  -2,738
Total debt, $m
  661
  1,088
  1,689
  2,506
  3,586
  4,977
  6,723
  8,866
  11,444
  14,487
  18,020
  22,059
  26,614
  31,688
  37,282
  43,388
  49,998
  57,102
  64,687
  72,743
  81,258
  90,225
  99,636
  109,487
  119,776
  130,505
  141,679
  153,304
  165,392
  177,955
Total liabilities, $m
  784
  1,212
  1,812
  2,630
  3,710
  5,101
  6,847
  8,990
  11,568
  14,611
  18,144
  22,183
  26,737
  31,812
  37,406
  43,512
  50,122
  57,225
  64,811
  72,866
  81,382
  90,349
  99,760
  109,611
  119,900
  130,629
  141,803
  153,428
  165,516
  178,079
Total equity, $m
  2,007
  3,101
  4,638
  6,729
  9,493
  13,051
  17,518
  23,003
  29,599
  37,386
  46,425
  56,759
  68,414
  81,399
  95,710
  111,334
  128,248
  146,424
  165,832
  186,445
  208,234
  231,177
  255,257
  280,463
  306,790
  334,243
  362,833
  392,579
  423,508
  455,655
Total liabilities and equity, $m
  2,791
  4,313
  6,450
  9,359
  13,203
  18,152
  24,365
  31,993
  41,167
  51,997
  64,569
  78,942
  95,151
  113,211
  133,116
  154,846
  178,370
  203,649
  230,643
  259,311
  289,616
  321,526
  355,017
  390,074
  426,690
  464,872
  504,636
  546,007
  589,024
  633,734
Debt-to-equity ratio
  0.330
  0.350
  0.360
  0.370
  0.380
  0.380
  0.380
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
Adjusted equity ratio
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  175
  269
  402
  582
  818
  1,122
  1,502
  1,967
  2,524
  3,180
  3,946
  4,812
  5,786
  6,870
  8,062
  9,362
  10,767
  12,274
  13,883
  15,589
  17,391
  19,288
  21,277
  23,358
  25,531
  27,797
  30,155
  32,609
  35,159
  37,810
Depreciation, amort., depletion, $m
  35
  49
  70
  97
  133
  180
  239
  311
  397
  500
  610
  745
  898
  1,069
  1,257
  1,462
  1,684
  1,923
  2,178
  2,448
  2,735
  3,036
  3,352
  3,683
  4,029
  4,389
  4,765
  5,156
  5,562
  5,984
Funds from operations, $m
  210
  319
  472
  679
  952
  1,302
  1,741
  2,277
  2,921
  3,679
  4,555
  5,557
  6,685
  7,939
  9,319
  10,824
  12,451
  14,197
  16,060
  18,038
  20,126
  22,324
  24,629
  27,041
  29,560
  32,186
  34,920
  37,764
  40,721
  43,794
Change in working capital, $m
  -5
  -7
  -9
  -13
  -17
  -21
  -27
  -33
  -40
  -47
  -54
  -62
  -70
  -78
  -86
  -94
  -102
  -109
  -117
  -124
  -131
  -138
  -145
  -151
  -158
  -165
  -172
  -179
  -186
  -193
Cash from operations, $m
  214
  325
  481
  691
  968
  1,323
  1,767
  2,310
  2,961
  3,726
  4,610
  5,619
  6,755
  8,017
  9,405
  10,918
  12,553
  14,307
  16,177
  18,161
  20,257
  22,462
  24,774
  27,193
  29,718
  32,351
  35,092
  37,943
  40,907
  43,987
Maintenance CAPEX, $m
  -16
  -26
  -41
  -61
  -88
  -125
  -171
  -230
  -302
  -389
  -491
  -610
  -745
  -898
  -1,069
  -1,257
  -1,462
  -1,684
  -1,923
  -2,178
  -2,448
  -2,735
  -3,036
  -3,352
  -3,683
  -4,029
  -4,389
  -4,765
  -5,156
  -5,562
New CAPEX, $m
  -73
  -105
  -147
  -200
  -265
  -341
  -428
  -526
  -632
  -747
  -867
  -991
  -1,117
  -1,245
  -1,372
  -1,498
  -1,621
  -1,742
  -1,861
  -1,976
  -2,089
  -2,199
  -2,308
  -2,416
  -2,524
  -2,632
  -2,741
  -2,852
  -2,965
  -3,082
Cash from investing activities, $m
  -89
  -131
  -188
  -261
  -353
  -466
  -599
  -756
  -934
  -1,136
  -1,358
  -1,601
  -1,862
  -2,143
  -2,441
  -2,755
  -3,083
  -3,426
  -3,784
  -4,154
  -4,537
  -4,934
  -5,344
  -5,768
  -6,207
  -6,661
  -7,130
  -7,617
  -8,121
  -8,644
Free cash flow, $m
  125
  194
  293
  430
  615
  858
  1,168
  1,554
  2,026
  2,591
  3,252
  4,019
  4,892
  5,874
  6,964
  8,163
  9,469
  10,880
  12,394
  14,008
  15,720
  17,527
  19,429
  21,424
  23,511
  25,690
  27,962
  30,326
  32,786
  35,344
Issuance/(repayment) of debt, $m
  296
  428
  601
  817
  1,080
  1,390
  1,746
  2,143
  2,578
  3,043
  3,533
  4,039
  4,555
  5,075
  5,593
  6,106
  6,610
  7,103
  7,585
  8,056
  8,516
  8,967
  9,411
  9,851
  10,289
  10,729
  11,173
  11,625
  12,088
  12,564
Issuance/(repurchase) of shares, $m
  584
  825
  1,135
  1,510
  1,946
  2,436
  2,966
  3,518
  4,072
  4,607
  5,093
  5,522
  5,868
  6,115
  6,249
  6,262
  6,147
  5,901
  5,526
  5,023
  4,398
  3,656
  2,803
  1,847
  796
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  880
  1,253
  1,736
  2,327
  3,026
  3,826
  4,712
  5,661
  6,650
  7,650
  8,626
  9,561
  10,423
  11,190
  11,842
  12,368
  12,757
  13,004
  13,111
  13,079
  12,914
  12,623
  12,214
  11,698
  11,085
  10,729
  11,173
  11,625
  12,088
  12,564
Total cash flow (excl. dividends), $m
  1,005
  1,446
  2,028
  2,757
  3,642
  4,684
  5,879
  7,216
  8,677
  10,242
  11,878
  13,580
  15,315
  17,064
  18,807
  20,531
  22,226
  23,885
  25,505
  27,087
  28,633
  30,150
  31,643
  33,123
  34,597
  36,419
  39,135
  41,952
  44,874
  47,908
Retained Cash Flow (-), $m
  -758
  -1,094
  -1,537
  -2,091
  -2,765
  -3,558
  -4,467
  -5,484
  -6,596
  -7,787
  -9,039
  -10,334
  -11,655
  -12,985
  -14,312
  -15,624
  -16,913
  -18,176
  -19,409
  -20,612
  -21,789
  -22,943
  -24,080
  -25,206
  -26,327
  -27,453
  -28,590
  -29,746
  -30,929
  -32,147
Prev. year cash balance distribution, $m
  239
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  486
  352
  491
  666
  877
  1,126
  1,412
  1,731
  2,081
  2,455
  2,839
  3,246
  3,661
  4,079
  4,495
  4,907
  5,312
  5,709
  6,096
  6,474
  6,844
  7,206
  7,563
  7,917
  8,269
  8,966
  10,545
  12,206
  13,945
  15,761
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  466
  323
  428
  548
  680
  817
  954
  1,082
  1,195
  1,287
  1,348
  1,385
  1,392
  1,369
  1,320
  1,247
  1,156
  1,051
  939
  823
  708
  598
  496
  403
  322
  262
  226
  189
  152
  119
Current shareholders' claim on cash, %
  61.5
  39.7
  26.7
  18.6
  13.4
  10.0
  7.6
  6.0
  4.9
  4.0
  3.4
  2.9
  2.6
  2.3
  2.1
  1.9
  1.8
  1.7
  1.6
  1.5
  1.5
  1.5
  1.4
  1.4
  1.4
  1.4
  1.4
  1.4
  1.4
  1.4

Osisko Gold Royalties Ltd. operates as a mining royalty and exploration company. The company primarily explores for gold and base metals. It has 5% net smelter returns (NSR) royalty on the Canadian Malartic property located in the province of Québec, Canada; and 2%-3.5% NSR royalty on the Éléonore mine situated in the James Bay area in Québec, Canada. The company also holds 2% NSR royalty on the Upper Beaver, Kirkland Lake, and Hammond Reef gold exploration projects in Northern Ontario. In addition, it has interests in exploration and evaluation projects in the James Bay area, the Cariboo mining district, and the Guerrero Gold Belt in Mexico; and a portfolio of royalties, options on royalties, and rights to participate in future royalty/stream financings on various projects primarily in Ontario and Québec, and the United States. The company is headquartered in Montreal, Canada.

FINANCIAL RATIOS  of  Osisko Gold Royalties (OR)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

OR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the OR stock intrinsic value calculation we used $167.490966222 million for the last fiscal year's total revenue generated by Osisko Gold Royalties. The default revenue input number comes from 0001 income statement of Osisko Gold Royalties. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our OR stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for OR is calculated based on our internal credit rating of Osisko Gold Royalties, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Osisko Gold Royalties.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of OR stock the variable cost ratio is equal to 5.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for OR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Osisko Gold Royalties.

Corporate tax rate of 27% is the nominal tax rate for Osisko Gold Royalties. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the OR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for OR are equal to 71.8%.

Life of production assets of 7.3 years is the average useful life of capital assets used in Osisko Gold Royalties operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for OR is equal to -4.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1488.14218382 million for Osisko Gold Royalties - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 157.797 million for Osisko Gold Royalties is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Osisko Gold Royalties at the current share price and the inputted number of shares is $1.1 billion.

RELATED COMPANIES Price Int.Val. Rating

COMPANY NEWS

▶ Osisko Reports Third Quarter 2018 Results   [Nov-06-18 05:01PM  GlobeNewswire]
▶ Orkuveita Reykjavíkur Bond Issue Results   [Oct-24-18 04:15AM  GlobeNewswire]
▶ OR Bond Offering on 23 October   [Oct-16-18 03:41AM  GlobeNewswire]
▶ ORs Finances on a Solid Track   [Oct-05-18 10:14AM  GlobeNewswire]
▶ Osisko Enters Into Agreement to Amend Renard Stream   [Oct-02-18 01:30PM  GlobeNewswire]
▶ From Reykjavík Energy   [Sep-19-18 06:08PM  GlobeNewswire]
▶ Early Warning News Release   [08:00AM  GlobeNewswire]
▶ Release from Reykjavík Energy   [Sep-17-18 04:39PM  GlobeNewswire]
▶ Early Warning News Release   [Sep-13-18 09:46AM  GlobeNewswire]
▶ OR receives rating of i.AA3 with positive outlook by Reitun   [Aug-29-18 03:10PM  GlobeNewswire]
▶ OR Bond Offering on August 21   [Aug-14-18 05:09AM  GlobeNewswire]
▶ Osisko Gold Royalties Ltd to Host Earnings Call   [Aug-03-18 08:00AM  ACCESSWIRE]
▶ Osisko Declares 16th Consecutive Quarterly Dividend   [Aug-02-18 05:31PM  GlobeNewswire]
▶ Osisko Reports Second Quarter 2018 Results   [05:28PM  GlobeNewswire]
▶ LOreal CEO Agon on China Growth, Trade Tensions, Brexit   [Jul-27-18 06:51AM  Bloomberg Video]
▶ Early Warning News Release   [Jul-03-18 10:33AM  GlobeNewswire]
▶ OR Annual General Meeting   [Jun-28-18 11:06AM  GlobeNewswire]
▶ 3 Stocks Wall Street Hasn't Heard Of Yet   [Jun-01-18 07:00AM  Motley Fool]
▶ Stable Results of Operations   [May-28-18 12:42PM  GlobeNewswire]
▶ What Is Gold Streaming?   [09:16AM  Motley Fool]
▶ Orkuveita Reykjavíkur - Bond Issue Results   [05:30AM  GlobeNewswire]
▶ Osisko Declares 15th Consecutive Quarterly Dividend   [May-03-18 09:15AM  GlobeNewswire]
▶ Osisko Reports First Quarter 2018 Results   [09:12AM  GlobeNewswire]
▶ OR Bond Offering on 3 May   [Apr-26-18 05:34AM  GlobeNewswire]
▶ Skuldabréfaútboð OR 3. maí   [05:28AM  GlobeNewswire]
▶ Early Warning News Release   [Apr-02-18 11:14AM  Marketwired]
▶ Orkuveita Reykjavíkur Bond Issue Results   [Mar-15-18 02:29PM  GlobeNewswire]
▶ OR Bond Offering on March 15 2018   [Mar-06-18 03:00AM  GlobeNewswire]

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