OR Royalties is trading higher today after releasing a preliminary first-quarter 2026 operating update that showed a quarterly revenue record and continued capital returns. The company reported 22,740 attributable gold-equivalent ounces (GEOs) and preliminary royalties-and-streams revenue of $102.8 million, with preliminary cost of sales (excluding depletion) of $3.3 million, implying a cash margin of about $99.5 million (96.8%). (ml.globenewswire.com)

The update also pointed to meaningful share repurchases: OR said it bought back $12.9 million of common shares in Q1 (C$17.7 million) under its normal course issuer bid, while ending the quarter with approximately $94.9 million of cash and an undrawn $650 million revolving credit facility (plus an uncommitted $200 million accordion). Those datapoints can act as near-term support for the stock by signaling financial flexibility and ongoing shareholder returns. (ml.globenewswire.com)

OR also disclosed that SolGold and Jiangxi Copper exercised an option to buy back 50% of the Cascabel gold stream, resulting in a one-time payment to OR of 4,290 ounces of gold (subject to a 20% transfer price), which the company said represented a net value of approximately $17.5 million on the delivery date. That incremental value, alongside the revenue record, is helping shape today’s positive reaction. (ml.globenewswire.com)

Investors’ next scheduled checkpoint is the full Q1 2026 results release on May 6, 2026 after market close, with a conference call set for May 7, 2026. OR also said previously announced transactions to acquire a portfolio of royalty assets from Gold Fields and a basket of royalties covering Spring Valley are expected to close early in Q2 2026, which could keep deal and portfolio-expansion headlines in focus. (ml.globenewswire.com)