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Stockchase Opinions

Bruce Campbell (1)Osisko Gold Royalties Ltd.OR.TOHOLDJun 11, 2014

A royalty on the Malartic mine that was spun out of Osisko Mine (OSK-T). His problem with this is that it is over NAV, which royalty companies do. Right now, you could buy a few juniors at about half that valuation, so you really have to like the royalty side.

$15.85

Stock price when the opinion was issued

$47.96

As of Jun 22, 2026. Market Open.

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TOP PICK

Good company. Royalties from a lot of NA mines, not foreign jurisdictions. Royalty space doesn't have to deal with higher costs of being an operator, it gets paid regardless. Gold should start outperforming consistently for the next couple of years. USD will eventually trail down, as rates are not being hiked as aggressively. Yield is 1.33%.

(Analysts’ price target is $25.25)
TOP PICK

Despite small stakes in other divisions, an almost-pure play on royalties and streaming in 99% precious metals. Well diversified. Prospects to grow assets organically by 10-12% per annum. After 8 years, smashed through resistance last month. In his momentum fund. Gold is pushing toward fresh highs. Yield is 1.02%.

(Analysts’ price target is $24.56)
PAST TOP PICK
(A Top Pick Jan 05/23, Up 4%)

Pretty strong dividend, which he's bullish on right now. One of the best charts in the gold space, if not the best. Doesn't hesitate to recommend.

TOP PICK
Breaking out to new highs. Pays a dividend, which will be a big part of returns in the next cycle. Checks the boxes of liking gold and liking dividends. Yield is 1.30%. (Analysts’ price target is $21.99)
BUY

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Pays a decent dividend yield of 1.6%. Long-term debt has been significantly reduced. Quite healthy in terms of debt levels and ability to pay them, although ability to service and pay debt has been eroding slightly over time. A lot will depend on the gold market, and if the price of gold continues to increase, OR's financial standpoint should also increase. Unlock Premium - Try 5i Free

BUY
To manage risk, he sets up his portfolios starting with the biggest, which is FNV. Great company, many assets, target of $23. He also owns MTA, which is more diversified. He also owns OSK proper.
PAST TOP PICK
(A Top Pick Mar 27/20, Up 52%) It lagged, so he sold out to move into silver.
PAST TOP PICK
(A Top Pick Feb 21/20, Up 1%) Still in his portfolio. It has been lagging but for now, he is still adding when it drops below the set allocation. Rebalancing for the day when they either get taken out, take someone out, or it sees a good move.
BUY
In this sector, you should hold 60% gold/silver producers + 40% royalties. Maintain a constant percentage and rebalance. But royalties don't grow as quickly as producers, so be patient. He likes OR.
DON'T BUY

US investors would look at FNV-T if they are looking at royalties and streaming. It is OR-T has gone through a transition over the years and is smaller and without the same following. He had his eyes on it in the past.

TOP PICK
A gold royalty company. He has a $17 price target. Not being a producer, they have more stable cash flow.
TOP PICK
A senior royalty company. He likes their projects that are more safe than Fortuna. You get cashflow as well. (Analysts’ price target is $16.59)
HOLD
A question of patience. Its mines are just getting structured and not making money yet. Great management. Royalty companies are good for older clients for a steady stream of income.
BUY
Don't play gold for only 1-2 quarters, but for the long term. You can buy the current pullback.
WEAK BUY

It has been hit by a few negative events. A write-down on an asset, for example. The impact to them is not that great, however. Also a mine came out with a lower grade than expected. It is okay to own but is relatively expensive. Sandstorm (SSL-T) is his preference in a royalty company.