10 Best Canadian Gold Stocks to Buy Now

7. Osisko Gold Royalties Ltd (NYSE:OR)

Number of Hedge Fund Holders: 24

Osisko Gold Royalties Ltd (NYSE:OR) is a top player in the precious metals industry, acquiring and managing royalties, streams, and stakes across Canada and beyond. Its crown jewel is a 3%–5% net smelter return royalty on Agnico Eagle’s Canadian Malartic complex. Beyond this, Osisko has interests in numerous mining ventures, mostly focused on gold, silver, and copper.

Osisko Gold Royalties Ltd (NYSE:OR) posted a record annual revenue of $191.2 million in 2024, boosted by high metal prices and steady royalty flows. Osisko earned 20,005 gold equivalent ounces (GEOs) in Q4, helping it reach an annual total of 80,740 GEOs, beating its midpoint target.

In addition to strong operational performance, Osisko Gold Royalties Ltd (NYSE:OR) closed almost $300 million in deals throughout 2024. Key advancements included acquiring the Dalgaranga Royalty and restructuring the Gibraltar Silver Stream, boosting its portfolio value. The company’s portfolio now holds 21 producing assets, with the recent addition of Ghana’s Namdini mine, which began gold production in November 2024.

A central part of Osisko’s approach is its focus on Tier-1 mining regions, with about 78% of the company’s GEOs coming from Canada, the U.S., and Australia, ensuring reliable income. While Canadian Malartic remains its biggest revenue source, new revenue streams from Alamos Gold’s Island Gold District and the CSA copper stream will likely play major roles in driving growth.

For 2025, Osisko Gold Royalties Ltd (NYSE:OR) projects a 45:55 output split between the first and second halves. Q1 is expected to be the slowest, mainly due to reduced output from Canadian Malartic. However, the company sees production picking up in Q2, followed by stronger growth later in the year, fueled by increased yields from the Namdini royalty.

With a clear growth plan and strong output outlook, Osisko Gold Royalties Ltd (NYSE:OR) is set for steady expansion as one of the best Canadian stocks.