TFPM vs. OR

Last updated Jun 3, 2026

TFPM (Triple Flag Precious Metals Corp) and OR (Osisko Gold Royalties Ltd) are both stocks. Both are in the Basic Materials sector — TFPM in Other Precious Metals & Mining, OR in Gold. Over the past 3 years, TFPM returned 31.14%/yr vs 33.49%/yr for OR. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

TFPM vs. OR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Triple Flag Precious Metals Corp (TFPM) and Osisko Gold Royalties Ltd (OR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TFPM achieves a -6.59% return, which is significantly lower than OR's 4.29% return.

TFPM

• 1D: 1.74%
• 1M: -1.72%
• YTD: -6.59%
• 6M: -4.85%
• 1Y: 35.19%
• 3Y*: 31.14%
• 5Y*: —
• 10Y*: —

OR

• 1D: 2.50%
• 1M: 0.35%
• YTD: 4.29%
• 6M: 8.62%
• 1Y: 37.09%
• 3Y*: 33.49%
• 5Y*: 22.25%
• 10Y*: 12.32%

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

TFPM vs. OR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TFPM Triple Flag Precious Metals Corp	-6.59%	123.03%	14.60%	-1.81%	14.71%	33.50%
OR Osisko Gold Royalties Ltd	4.29%	96.95%	28.14%	19.96%	0.02%	9.48%

Correlation

The correlation between TFPM and OR is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021	0.55

Over the past year, TFPM and OR have become more correlated (0.78) than their long-term average of 0.55, meaning their price movements have been converging.

Fundamentals

Market Cap TFPM : $6.41B OR : $6.95B
EPS TFPM : $1.51 OR : $1.34
PE Ratio TFPM : 20.45 OR : 27.45
PEG Ratio TFPM : 0.16 OR : 0.15
PS Ratio TFPM : 14.03 OR : 21.43
PB Ratio TFPM : 2.97 OR : 4.70
Total Revenue (TTM) TFPM : $453.24M OR : $325.18M
Gross Profit (TTM) TFPM : $337.23M OR : $275.03M
EBITDA (TTM) TFPM : $354.95M OR : $330.83M

Return for Risk

TFPM vs. OR — Risk / Return Rank

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

TFPM

TFPM Risk / Return Rank: 65
TFPM Sharpe Ratio Rank: 66
TFPM Sortino Ratio Rank: 59
TFPM Omega Ratio Rank: 59
TFPM Calmar Ratio Rank: 70
TFPM Martin Ratio Rank: 70

OR

OR Risk / Return Rank: 65
OR Sharpe Ratio Rank: 67
OR Sortino Ratio Rank: 59
OR Omega Ratio Rank: 62
OR Calmar Ratio Rank: 67
OR Martin Ratio Rank: 68

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.

TFPM vs. OR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Triple Flag Precious Metals Corp (TFPM) and Osisko Gold Royalties Ltd (OR). 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.

	TFPM	OR	Difference
Sharpe ratio Return per unit of total volatility	0.83	0.85	-0.02
Sortino ratio Return per unit of downside risk	1.26	1.26	0.00
Omega ratio Gain probability vs. loss probability	1.17	1.18	-0.01
Calmar ratio Return relative to maximum drawdown	1.61	1.45	+0.16
Martin ratio Return relative to average drawdown	3.87	3.39	+0.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TFPM vs. OR - Sharpe Ratio Comparison

The current TFPM Sharpe Ratio is 0.83, which is comparable to the OR Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of TFPM and OR, 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

	TFPM	OR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	0.85	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.63	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.38	+0.47

Drawdowns

TFPM vs. OR - Drawdown Comparison

The maximum TFPM drawdown since its inception was -36.48%, smaller than the maximum OR drawdown of -61.90%. Use the drawdown chart below to compare losses from any high point for TFPM and OR.

Drawdown Indicators

	TFPM	OR	Difference
Max Drawdown Largest peak-to-trough decline	-36.48%	-61.90%	+25.42%
Max Drawdown (1Y) Largest decline over 1 year	-26.26%	-31.13%	+4.87%
Max Drawdown (3Y) Largest decline over 3 years	-26.26%	-31.13%	+4.87%
Max Drawdown (5Y) Largest decline over 5 years	—	-37.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.90%	—
Current Drawdown Current decline from peak	-24.98%	-22.67%	-2.31%
Average Drawdown Average peak-to-trough decline	-13.31%	-18.04%	+4.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.89%	13.33%	-2.44%

Volatility

TFPM vs. OR - Volatility Comparison

Triple Flag Precious Metals Corp (TFPM) has a higher volatility of 14.96% compared to Osisko Gold Royalties Ltd (OR) at 13.48%. This indicates that TFPM's price experiences larger fluctuations and is considered to be riskier than OR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TFPM	OR	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.96%	13.48%	+1.48%
Volatility (6M) Calculated over the trailing 6-month period	32.90%	36.86%	-3.96%
Volatility (1Y) Calculated over the trailing 1-year period	42.83%	44.37%	-1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.24%	35.54%	+1.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.24%	38.39%	-1.15%

Dividends

TFPM vs. OR - Dividend Comparison

TFPM's dividend yield for the trailing twelve months is around 0.74%, more than OR's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
OR Osisko Gold Royalties Ltd	0.60%	0.59%	1.02%	1.34%	1.38%	1.37%	1.18%	1.56%	1.72%	1.56%	1.65%
TFPM Triple Flag Precious Metals Corp	0.74%	0.68%	1.43%	1.54%	1.07%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

TFPM vs. OR - Profitability Comparison

The chart below illustrates the profitability comparison between Triple Flag Precious Metals Corp and Osisko Gold Royalties Ltd over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

TFPM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Triple Flag Precious Metals Corp reported a gross profit of 104.35M and revenue of 144.96M. Therefore, the gross margin over that period was 72.0%.

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%.

TFPM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Triple Flag Precious Metals Corp reported an operating income of 97.00M and revenue of 144.96M, resulting in an operating margin of 66.9%.

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%.

TFPM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Triple Flag Precious Metals Corp reported a net income of 115.31M and revenue of 144.96M, resulting in a net margin of 79.6%.

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%.

Frequently Asked Questions

Can I hold both TFPM and OR in my portfolio?

TFPM and OR have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TFPM or OR?

TFPM has higher volatility (14.96%) compared to OR (13.48%). In terms of maximum drawdown, TFPM dropped -36.48% vs OR's -61.90%.

Which has better risk-adjusted returns?

OR currently has the higher Sharpe Ratio (0.85 vs 0.83), 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.