The Globe and Mail reports in its Friday, Oct. 3, edition that Canaccord Genuity analyst Carey MacRury has lowered his recommendation for OR Royalties to "hold" from "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. MacRury gave his share target a $12 boost to $56. Analysts on average target the shares at $43.72. Mr. MacRury says in a note: "OR Royalties is up 112 per cent year-to-date and up 49 per cent in the last three months, outperforming intermediate peers Sandstorm and Triple Flag. ... The company announced a net cash position with its Q2/25 results, as well as a new upsized and extended $650 million credit facility, supporting additional growth opportunities in the future. 2025 guidance of 80-88 kGEOs (CGe 82.3koz) was reaffirmed with its Q2/25 results, and with H1/25 deliveries at 38.714 GEOs (about 46 per cent of the midpoint), we see OR Royalties as on track to achieve its targets. Looking ahead, the five-year outlook calls for 110-125 kGEOs by 2029 -- a rise of more than 40 per cent from 2024 -- driven by new contributions from Windfall, Hermosa and the Island Gold expansion. We are largely in-line with this outlook, estimating 110koz by 2029."