BMO Reiterates Ratings On Osisko Gold Royalties After Preliminary Results

On January 10th, Osisko Gold Royalties (TSX: OR) reported its preliminary fourth-quarter deliveries and portfolio update. Osisko received 19,830 gold equivalent ounces for a total of 80,000 equivalent ounces in 2021. This is at the higher end of their 78,000 – 82,000 guidance. The company says that preliminary revenue for the fourth quarter is C$50.7 million and cost of sales came in at C$3.7 million.

Osisko Gold currently has 13 analysts covering the stock with an average 12-month price target of C$22.88 or a 51% upside to the current stock price. Out of the 13 analysts, 4 have strong buy ratings, 8 have buy ratings and 1 analyst has a hold rating on the stock. The street high sits at C$27, representing 78% upside, coming from Haywood Securities. While the lowest price target sits at C$19, representing a 26% upside to the current stock price.

In BMO Capital Markets’ note, they reiterate their C$20 12-month price target and market perform rating saying that the preliminary results were consistent with consensus expectations.

On the results, BMO says that all the results came in line with consensus expectations. The consensus estimates were 19,700 equivalent ounces, C$53.3 million in revenue, and C$4.2 million in cost of sales.

BMO says that in the news release, the company outlined a number of expected 2022 catalysts which include further expansion to Mantos Blancos, ‘imminent production’ at Santana, Ermitaño, and advancing Tocantinzinho under new ownership.

BMO says that they have not updated their estimates for the companies outlook and keep their estimates tied to their models of the mine operators under their coverage so there is a potential upside to their price target.

Below you can see BMO’s updated fourth quarter, full year 2021, and 2022 estimates.


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.

Video Articles

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

What Happens If Silver Finally Breaks $50? | Gary Thompson – Silver47

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

Aphria: Canaccord Upgrades Price Target To $11.00 Following SweetWater Transaction

On Wednesday, Aphria Inc (TSX: APHA) (NASDAQ: APHA) announced that it had entered an agreement...

Thursday, November 5, 2020, 03:01:00 PM

Lundin Mining: Canaccord Lifts Target To $15 After Earnings

On April 27, Lundin Mining Corporation (TSX: LUN) reported its first quarter financial results. The...

Friday, April 29, 2022, 03:52:00 PM

Canaccord: Meta Platforms’ Near Term Headwinds Are Priced In

On October 25th, Facebook (NASDAQ: FB), now called Meta Platforms, reported their 2021 third quarter...

Thursday, November 4, 2021, 05:08:00 PM

Microsoft: Analysts Anticipate Q4 Earnings Per Share Of $2.29

Microsoft (NASDAQ: MSFT) will be reporting its fiscal fourth quarter financials today after markets close....

Tuesday, July 26, 2022, 10:57:00 AM

Stifel: “We View Green Thumb As The Best In Class Operator in US Cannabis”

Last week, Stifel GMP released their top picks for the fourth quarter of 2020, headlining...

Monday, October 19, 2020, 12:58:00 PM