In This Article:
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Gold Equivalent Ounces (GEOs) Earned: 19,014 GEOs in Q1 2025.
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Operating Cash Flows: $46.1 million with a cash margin of 97.1%.
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Cash and Net Debt: $63.1 million in cash; net debt reduced to just over $10 million.
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Quarterly Revenue: $54.9 million, higher year-over-year.
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Earnings Per Share (EPS): $0.14 per basic common share, improved year-over-year.
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Cash Flow Per Share: $0.25, up from $0.20 in Q1 2024.
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Adjusted Earnings Per Share: $0.16 per basic common share, up from $0.12 in Q1 2024.
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Quarterly Dividend: CAD 0.065 per share; subsequent increase to USD 0.055 per share.
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Precious Metals Contribution: Over 93% of GEOs from precious metals; gold at just under 67% and silver at just over 26%.
Release Date: May 08, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Osisko Gold Royalties Ltd (NYSE:OR) reported a solid start to 2025 with 19,014 gold equivalent ounces (GEOs) earned, aligning with their full-year guidance of 80,000 to 88,000 GEOs.
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The company achieved an impressive operating cash flow of $46.1 million with a cash margin of 97.1% for the first quarter.
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Osisko reduced its net debt to just over $10 million, showcasing strong financial management and a robust balance sheet.
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The company declared a 20% increase in its quarterly dividend to USD 0.055 per share, reflecting confidence in future cash flows.
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Osisko's sustainability efforts were highlighted with the release of their fifth annual Sustainability Report, demonstrating progress in ESG initiatives.
Negative Points
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The first quarter was expected to be the weakest due to sequencing in major assets like Malartic and Mantos Blancos, impacting initial performance.
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No major transactions were announced during the period, despite a busy corporate development team, potentially affecting growth expectations.
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Production at Capstone Copper's Mantos Blancos was slightly lower year-over-year due to lower silver grades.
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The Cariboo project is not included in the five-year outlook due to pending project financing, creating uncertainty in future contributions.
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Osisko's name change to OR Royalties may cause temporary confusion among stakeholders and requires effective communication to ensure a smooth transition.
Q & A Highlights
Q: Can you provide an overview of Osisko Gold Royalties' financial performance in Q1 2025? A: Jason Attew, President and CEO, highlighted that Osisko earned 19,014 gold equivalent ounces (GEOs) in Q1 2025, aligning with their full-year guidance of 80,000 to 88,000 GEOs. The company reported operating cash flows of $46.1 million with a cash margin of 97.1%. Revenues were $54.9 million, and earnings per share improved to $0.14 from the previous year. The company ended the quarter with $63.1 million in cash and reduced net debt to just over $10 million.