BMO Reiterates $21 Price Target On Osisko Gold Royalties

Last week, Osisko Gold Royalties (TSX: OR) announced their preliminary second quarter deliveries and gave investors an asset update. Osisko earned roughly 20,178 gold equivalent ounces, or GEO’s, in the second quarter and had preliminary revenue of $57.2 million, with costs of sales amounting to $10.1 million for the second quarter. The company also provided an update for their Malartic and Kirkland Lake exploration assets.

Osisko Gold has 14 analysts covering the company with an average 12-month price target of $23.11, or a 38% upside. Scotiabank has the street high at $28.50, while the lowest sits at $19.60. Out of the 14 analysts, five have strong buy rates, eight have buys and one analyst has a hold rating.

In BMO’s note to investors on July 12, they reiterated their $21 12-month price target and Market Perform rating, saying that Osisko’s pipeline project is starting to show growth. Osisko’s preliminary results and GEO’s are in line with BMO’s estimates, and they believe that Osisko is on track to hit its full year GEO guidance range of 78,000 – 82,000 GEO.

BMO says that Osisko, “continues to highlight organic growth opportunities,” including its Minera Alamos Santana project, Victoria’s Eagle mine, and Canadian Malartic.

Below you can see BMO’s updated second quarter, 2021, and 2022 estimates, including the Canadian Malatric exploration upside. The estimates notably do not include the Santana project.


Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

Stifel: “A Lot Continues To Go Right For Eguana”

On March 1st, Eguana Tech (TSXV: EGT) reported its first fiscal quarter of 2022. The...

Saturday, March 5, 2022, 05:10:00 PM

Cresco Labs: Canaccord Bumps Price Target Up To $20.50

Wednesday, Canaccord came out with their updated valuations for the large three multi-state operators. With...

Sunday, January 17, 2021, 01:41:00 PM

Montage Gold Sees Initial Indicated Resource Of 4.27 Million Ounces For Koné Project

Montage Gold Corp. (TSXV: MAU) shared today the results of its updated mineral resource estimate...

Thursday, August 19, 2021, 08:05:03 AM

CN Rail: BMO Resumes Coverage With $155 Price Target

A number of analysts changed their recommendations and price targets on Canadian National Railway (TSX:...

Sunday, September 26, 2021, 01:38:00 PM

Facebook: BMO Raises Price Target To $425

On July 28, Facebook (NASDAQ: FB) reported their second quarter earnings, continuing the trend of...

Sunday, August 1, 2021, 02:08:00 PM