$OR

OR Royalties Inc. (OR: TSX & NYSE) updated investors on its producing, development, and exploration assets. Highlights include first gold production at Cuiú Cuiú (Cabral Gold) and Amulsar (United Gold) nearing production. The company owns royalties and streams on these and other projects, with production timelines and financial details provided. Harmony Gold increased copper production guidance for CSA.

L'Oréal (OR) surpassed LVMH (MOH) to become France's top stock by market cap, reaching $234B vs. LVMH's $232B. L'Oréal gained due to resilient consumer demand for affordable products and strong e-commerce growth, while LVMH fell 35% year-to-date amid luxury sector weakness. L'Oréal's market cap is driven by its position as the world's largest cosmetics firm, with $48B annual revenue.

Royalty streamers like Wheaton Precious Metals (WPM) and Franco-Nevada (FNV) are outperforming traditional gold producers due to higher cash margins. WPM closed a $4.3B deal and returned 510% over a decade. FNV, debt-free with $4.3B available, raised its dividend for 19 straight years. Gold prices hit $4,439/oz, benefiting these companies' models.

OR Royalties (NYSE:OR) reported Q2 call highlights. Management said $0.968 of each revenue dollar became cash margin. Canadian Malartic faced a north-wall rock mass movement, making about 370,000 oz of gold inaccessible over three years, but 2026 guidance stayed intact. The firm closed $335M acquisitions, ended June with $75.6M cash and $139M net debt, raised its dividend, and expanded its credit facility to $850M.

OR Royalties Inc. (OR) said its board approved a Q3 2026 dividend of US$0.065 per common share. The payment is set for Oct. 15, 2026 to shareholders of record Sept. 30, 2026. The company also offers a dividend reinvestment plan with a 3% discount for eligible Canadian and US residents.

OR Royalties Inc. reported Q2 2026 results: revenues from royalties and streams rose to $97.8 million, up 62% year over year, and operating cash flow increased to $83.2 million. Cash margin was 96.8%. The company closed $335.0 million of acquisitions, repurchased 225,712 shares for $8.0 million under its bid, and declared a $0.065 quarterly dividend. OR also expanded its credit facility.

OR Royalties Inc. reported preliminary Q2 2026 results. It earned 20,757 attributable gold equivalent ounces. Preliminary revenues from royalties and streams were $97.8 million, with cost of sales (excluding depletion) of $3.1 million, for a cash margin of about $94.7 million (96.8%). The company also updated cash and debt as of June 30, 2026. Shares T.OR were down $1.06 at $41.65.

OR Royalties Inc. reported preliminary Q2 2026 deliveries of 20,757 attributable gold equivalent ounces. It said royalty and stream revenues were $97.8 million, cost of sales (excluding depletion) $3.1 million, and cash margin about $94.7 million (96.8%). Cash was ~$75.6 million; net debt $139.4 million after $18.0 million repayments.

OR Royalties said its operating partner, Agnico Eagle, reported a July 1, 2026 rock mass movement on the north wall of the Barnat open pit at the Canadian Malartic complex in Québec. No injuries or environmental impact were reported; mining was temporarily suspended. Agnico expects 60,000–80,000 fewer gold ounces in 2H26 and up to ~150,000 oz/year reductions in 2027–28, while Odyssey outlook and OR’s 2026 guidance remain unchanged.

Global crude prices fell after a tentative US-Iran peace agreement reduced fears of a prolonged supply disruption. Brent dropped below $84 a barrel, its lowest level in over three months, as shipping through the Strait of Hormuz was expected to reopen. Thailand retailers PTT OR and Bangchak cut petrol by 80 satang/litre and diesel by 1 baht/litre, while US pump prices also eased.