OR vs. KGC

Last updated Jun 4, 2026

OR (Osisko Gold Royalties Ltd) and KGC (Kinross Gold Corporation) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 10 years, OR returned 11.84%/yr vs 20.27%/yr for KGC. A 0.71 correlation means they provide meaningful diversification when combined.

Performance

OR vs. KGC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Osisko Gold Royalties Ltd (OR) and Kinross Gold Corporation (KGC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OR achieves a -0.07% return, which is significantly lower than KGC's 0.30% return. Over the past 10 years, OR has underperformed KGC with an annualized return of 11.84%, while KGC has yielded a comparatively higher 20.27% annualized return.

OR

• 1D: -4.18%
• 1M: -2.16%
• YTD: -0.07%
• 6M: 3.99%
• 1Y: 32.59%
• 3Y*: 31.60%
• 5Y*: 20.56%
• 10Y*: 11.84%

KGC

• 1D: -2.83%
• 1M: -2.36%
• YTD: 0.30%
• 6M: 4.11%
• 1Y: 82.52%
• 3Y*: 82.00%
• 5Y*: 31.03%
• 10Y*: 20.27%

*Multi-year figures are annualized to reflect compound growth (CAGR)

OR vs. KGC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OR Osisko Gold Royalties Ltd	-0.07%	96.95%	28.14%	19.96%	0.02%	-2.01%	32.58%	12.20%	-22.72%	20.74%
KGC Kinross Gold Corporation	0.30%	206.11%	55.63%	51.83%	-27.59%	-19.00%	56.04%	46.30%	-25.00%	38.91%

Correlation

The correlation between OR and KGC is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.71

The correlation between OR and KGC has been stable across timeframes, ranging from 0.71 to 0.79 - a consistent structural relationship.

Fundamentals

Market Cap OR : $6.66B KGC : $33.92B
EPS OR : $1.34 KGC : $2.35
PE Ratio OR : 26.30 KGC : 11.97
PEG Ratio OR : 0.14 KGC : 0.16
PS Ratio OR : 20.54 KGC : 4.31
PB Ratio OR : 4.51 KGC : 3.72
Total Revenue (TTM) OR : $325.18M KGC : $7.94B
Gross Profit (TTM) OR : $275.03M KGC : $4.19B
EBITDA (TTM) OR : $330.83M KGC : $5.02B

Return for Risk

OR vs. KGC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OR

OR Risk / Return Rank: 61
OR Sharpe Ratio Rank: 64
OR Sortino Ratio Rank: 56
OR Omega Ratio Rank: 59
OR Calmar Ratio Rank: 62
OR Martin Ratio Rank: 62

KGC

KGC Risk / Return Rank: 79
KGC Sharpe Ratio Rank: 83
KGC Sortino Ratio Rank: 75
KGC Omega Ratio Rank: 77
KGC Calmar Ratio Rank: 80
KGC Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OR vs. KGC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Osisko Gold Royalties Ltd (OR) and Kinross Gold Corporation (KGC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	OR	KGC	Difference
Sharpe ratio Return per unit of total volatility	0.74	1.66	-0.92
Sortino ratio Return per unit of downside risk	1.16	2.04	-0.89
Omega ratio Gain probability vs. loss probability	1.16	1.29	-0.12
Calmar ratio Return relative to maximum drawdown	1.05	2.75	-1.70
Martin ratio Return relative to average drawdown	2.44	7.23	-4.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OR vs. KGC - Sharpe Ratio Comparison

The current OR Sharpe Ratio is 0.74, which is lower than the KGC Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of OR and KGC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OR	KGC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.74	1.66	-0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.71	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.43	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.08	+0.29

Drawdowns

OR vs. KGC - Drawdown Comparison

The maximum OR drawdown since its inception was -61.90%, smaller than the maximum KGC drawdown of -96.00%. Use the drawdown chart below to compare losses from any high point for OR and KGC.

Drawdown Indicators

	OR	KGC	Difference
Max Drawdown Largest peak-to-trough decline	-61.90%	-96.00%	+34.10%
Max Drawdown (1Y) Largest decline over 1 year	-31.13%	-30.20%	-0.93%
Max Drawdown (3Y) Largest decline over 3 years	-31.13%	-30.20%	-0.93%
Max Drawdown (5Y) Largest decline over 5 years	-37.18%	-60.46%	+23.28%
Max Drawdown (10Y) Largest decline over 10 years	-61.90%	-67.75%	+5.85%
Current Drawdown Current decline from peak	-25.91%	-25.81%	-0.10%
Average Drawdown Average peak-to-trough decline	-18.04%	-57.63%	+39.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.41%	11.45%	+1.96%

Volatility

OR vs. KGC - Volatility Comparison

The current volatility for Osisko Gold Royalties Ltd (OR) is 14.05%, while Kinross Gold Corporation (KGC) has a volatility of 15.68%. This indicates that OR experiences smaller price fluctuations and is considered to be less risky than KGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OR	KGC	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.05%	15.68%	-1.63%
Volatility (6M) Calculated over the trailing 6-month period	37.10%	38.88%	-1.78%
Volatility (1Y) Calculated over the trailing 1-year period	44.22%	49.99%	-5.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.58%	43.92%	-8.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.41%	46.90%	-8.49%

Dividends

OR vs. KGC - Dividend Comparison

OR's dividend yield for the trailing twelve months is around 0.62%, more than KGC's 0.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
KGC Kinross Gold Corporation	0.51%	0.44%	1.29%	1.98%	2.93%	2.69%	0.82%	0.00%	0.00%	0.00%	0.00%
OR Osisko Gold Royalties Ltd	0.62%	0.59%	1.02%	1.34%	1.38%	1.37%	1.18%	1.56%	1.72%	1.56%	1.65%

Financials

OR vs. KGC - Profitability Comparison

The chart below illustrates the profitability comparison between Osisko Gold Royalties Ltd and Kinross Gold Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

OR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Osisko Gold Royalties Ltd reported a gross profit of 87.28M and revenue of 101.41M. Therefore, the gross margin over that period was 86.1%.

KGC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Kinross Gold Corporation reported a gross profit of 1.37B and revenue of 2.37B. Therefore, the gross margin over that period was 57.8%.

OR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Osisko Gold Royalties Ltd reported an operating income of 79.13M and revenue of 101.41M, resulting in an operating margin of 78.0%.

KGC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Kinross Gold Corporation reported an operating income of 1.31B and revenue of 2.37B, resulting in an operating margin of 55.1%.

OR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Osisko Gold Royalties Ltd reported a net income of 72.56M and revenue of 101.41M, resulting in a net margin of 71.6%.

KGC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Kinross Gold Corporation reported a net income of 831.32M and revenue of 2.37B, resulting in a net margin of 35.0%.

Frequently Asked Questions

Can I hold both OR and KGC in my portfolio?

OR and KGC have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OR or KGC?

KGC has higher volatility (15.68%) compared to OR (14.05%). In terms of maximum drawdown, OR dropped -61.90% vs KGC's -96.00%.

Which has better risk-adjusted returns?

KGC currently has the higher Sharpe Ratio (1.66 vs 0.74), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.