VANCOUVER (miningweekly.com) – Osisko Gold Royalties has reported a 13% increase in its fourth-quarter adjusted earnings, to C$6.9-million, or C$0.07 a share, beating Bay Street analysts’ average forecast of earnings of C$0.06 a share.
Montreal-based Osisko, which owns a portfolio of cost-free royalties on mines such as Canadian Malartic and Éléonore, in Quebec, and Island gold mine, in Ontario, previously reported that revenues for the quarter ended December 31 had increased by 7% year-on-year to C$13.7-million, with net cash flows from operating activities up 52% year-on-year to C$12.8-million.
Net earnings attributable to Osisko shareholders totalled C$8.7-million, or $0.08 a basic and diluted share, compared with C$4.6-million, or C$0.05 a basic and diluted share in the fourth quarter of 2015.
The company also provided its 2017 guidance, which, including the recently acquired Gibraltar silver stream, in British Columbia, is expected to range between 43 300 oz and 46 100 oz of gold equivalent.