Assessing OR Royalties (TSX:OR) Valuation After Strong Recent Share Price Momentum

Simply Wall St

Tue, February 17, 2026 at 1:35 PM GMT+9 3 min read

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What OR Royalties Offers Investors Right Now

OR Royalties (TSX:OR) has drawn fresh attention after its recent share price moves, with the stock showing positive returns over the past month and past 3 months that stand out against its longer track record.

For investors watching this name, the key question is how those shorter term gains line up with the company’s current financial profile, including its CA$58.17 last close and the revenue and earnings it reports today.

See our latest analysis for OR Royalties.

The recent CA$58.17 share price, with a 6.11% 1 day share price return and 28.27% 90 day share price return, sits alongside a 1 year total shareholder return of 109.65% and 5 year total shareholder return of 329.49%. This indicates that momentum has been present over both shorter and longer horizons.

If OR Royalties has you thinking about where else returns might be compounding, it could be a good moment to look at our screener of 21 elite gold producer stocks as another way to find ideas in the precious metals space.

With annual revenue of CA$243.647 and net income of CA$147.948 set against a CA$58.17 share price and some valuation discount metrics, the real question is whether OR Royalties is still mispriced or if markets are already factoring in future growth.

Most Popular Narrative: 6.5% Undervalued

At a CA$58.17 last close versus a narrative fair value of CA$62.18, the most followed view sees upside still on the table, built on specific mine level catalysts.

Advancement of shovel ready, fully permitted projects such as Cariboo and Spring Valley, along with progressing optionality assets like Windfall and South Railroad, should convert currently unmodeled ounces into producing royalties, lengthening mine lives and supporting sustained earnings growth into the 2030s.

Read the complete narrative.

Curious how that growth path translates into CA$62.18 per share? The narrative leans heavily on double digit revenue and earnings compounding, plus richer margins and a premium profit multiple. The exact mix of growth, profitability and valuation expectations might surprise you.

Result: Fair Value of CA$62.18 (UNDERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, those growth assumptions could be challenged if precious metal prices retreat meaningfully, or if key projects like Cariboo and Dalgaranga hit delays or underperform.

Find out about the key risks to this OR Royalties narrative.

Story Continues  

Another Take Using Earnings Multiples

That 6.5% discount to narrative fair value meets a tougher hurdle when you look at the current P/E. OR Royalties trades at 54.3x earnings, versus 25.3x for the Canadian Metals and Mining industry, 28.2x for peers, and a fair ratio of 22.1x that the market could eventually lean toward. For you, that is a clear signal that expectations are already high. How comfortable are you paying more than double the industry multiple for this growth story?

See what the numbers say about this price — find out in our valuation breakdown.

TSX:OR P/E Ratio as at Feb 2026

Next Steps

If this mix of enthusiasm and caution has you on the fence, take a moment to review the full picture yourself and be prepared to move quickly if needed, including our breakdown of 4 key rewards and 1 important warning sign.

Ready to hunt for your next idea?

If OR Royalties has sharpened your focus, do not stop here. Use the Simply Wall St screener to spot other opportunities before they move without you.

Target quality at a discount by scanning our list of 5 high quality undervalued stocks that pair strong fundamentals with pricing that may still look reasonable.

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_ This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned._

Companies discussed in this article include OR.TO.

Have feedback on this article? Concerned about the content? Get in touch with us directly._ Alternatively, email editorial-team@simplywallst.com_

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