23:02:55 EDT Fri 18 Oct 2019
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Osisko Gold Royalties Ltd
Symbol C : OR
Shares Issued 142,971,526
Close 2019-09-17 C$ 15.85
Recent Sedar Documents

Globe says MacArthur maintains Osisko at "outperform"

2019-09-18 08:12 ET - In the News

Also In the News (C-PVG) Pretium Resources Inc

The Globe and Mail reports in its Wednesday, Sept. 18, edition that Raymond James analyst Brian MacArthur trimmed his financial expectations for Osisko Gold Royalties in reaction to news it is selling its interest in the Brucejack gold offtake contract for $41.3-million (U.S.) in cash to Pretium Resources. The Globe's David Leeder writes that Mr. MacArthur continues to rate Osisko "outperform," with an $18 (Canadian) share target. Analysts on average target the shares at $18.75 (Canadian). Mr. MacArthur says in a note: "Since the acquisition of the Orion portfolio in 2017, OR has received $164.3-million (U.S.) from Pretium. This compares favourably to the book value of OR's investment in Pretium of $147.3-million (U.S.). In addition, the transaction allows OR to eliminate a low margin offtake contract, better utilize working capital and provides capital to fund additional growth opportunities. We believe OR offers investors a high-margin business with growth, a flexible balance sheet, as well as a diversified portfolio of exploration companies with low jurisdictional risk." The Globe reported on Sept. 5 that Haywood Securities recommended accumulating Osisko shares, which were then worth $17.39 (Canadian).

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