-- OR Royalties (OR.TO) Wednesday after trade reported record first-quarter adjusted earnings and raised its dividend by 18%.
Adjusted earnings, excluding most one-time items, more than doubled to a record US$75.0 million, or US$0.40 per share, from US$29.5 million, or US$0.16, in the prior-year period. The result beat the consensus analyst estimate of US$0.35 per share, according to FactSet.
The company said revenue from royalties and streams nearly doubled to hit a record US$102.8 million, from US$54.9 million, but missed analysts' consensus expectation of US$103.3 million.
OR earned 22,740 gold-equivalent ounces, an increase from the 19,014 GEOs earned in the fiscal first quarter of last year, a statement added.
The company will pay the higher dividend of US$0.065 per share on July 15 to shareholders of record on June 30.
"OR Royalties delivered solid operational performance across our asset base in the first quarter, establishing a strong foundation to achieve our 2026 guidance range of 80,000 to 90,000 GEOs," said chief executive Jason Attew.
"We committed to deploying $438.5 million during the period to acquire 13 new royalties. Several of these additions will immediately contribute to our 2026 cash flows, while others further complement our five-year growth outlook out to 2030. Most importantly, we secured these assets at above-average industry returns, ensuring that these transactions were highly accretive to our shareholders," Attew added.
OR Royalties shares were last seen up US$0.01 to US$38.74 in after-hours New York trade. It closed up $3.63 to $52.83 on the Toronto Stock Exchange.