Critical Materials & Supply Chain▲
OR Royalties Q2 revenue and cash flow jump 62%, dividend raised 18.2%
OR Royalties reported second-quarter revenue and operating cash flow both rose 62% year over year to $97.8 million and $83.2 million, respectively, while adjusted earnings increased 78% to $60.5 million. The company delivered 43,497 gold equivalent ounces in the first half of 2026, up 12% from a year earlier, and maintained full-year guidance of 80,000 to 90,000 GEOs. A rock-wall movement at Canadian Malartic is expected to make roughly 370,000 ounces inaccessible over the next three years, potentially reducing OR Royalties' GEOs by about 3,500 in 2026 and up to 7,500 annually in 2027–2028, though management said 2026 guidance and the longer-term outlook remain intact. The board increased the quarterly dividend by 18.2% to $0.065 per share, and the company completed $335 million of acquisitions, raised its credit facility to $850 million, and continued share repurchases.