Loading…
Operates the Bomboré open-pit gold mine in Burkina Faso, West Africa.
Operates the Bomboré open-pit gold mine in Burkina Faso, West Africa.
Sells the gold poured at Bombore at the market price, so income follows ounces produced and the gold price. The Burkina Faso government holds a minority stake in the mine and takes royalties. Production began in 2022, and a build-out to process harder sulfide ore beneath the surface oxide layer is under way.
Moat: narrow (installed base, regulatory licence). Permitted, producing mine with an expansion project already de-risked by existing infrastructure.
Headquarters: Ottawa, Canada · Employees: 3,896
Size Orezone Gold (ORE.TO) is a Canada Materials company (Precious Metals) with a market value of $1.46B, the 209th largest of 420 Canada companies the cockpit tracks. Shares closed at C$2.84 on 6 Nov 2026.
Performance Over six months the shares gained 30.9%, against -9.5% for the median peer and +5.2% for the Canada market (cap-weighted) — 2nd highest of 18 in its peer set.
Growth Revenue grew 92.5% over the last twelve months (peer median +45.6%); the operating margin is 40.3% (peer median 8.9%).
Valuation It trades at 6.9× forward earnings against a peer median of 10.8× (cheapest of 8).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +110%, so the hurdle is -118 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 21.8 points above its cost of capital (9.3% WACC).
Next results Next results expected around 16 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$908M | C$526M | C$388M | C$366M | C$56.5M |
| Revenue growth | — | +35% | +6% | +548% | — |
| Gross profit | C$392M | C$226M | C$159M | C$123M | C$14.6M |
| EBITDA | C$432M | C$258M | C$182M | C$151M | C$5.43M |
| Net income | C$163M | C$90.7M | C$76.3M | C$58.2M | C$1.21M |
| Free cash flow | C$269M | -C$74.7M | C$3.24M | C$34.5M | -C$140M |
| Capital expenditure | C$179M | C$195M | C$64.4M | C$60.1M | C$138M |
| Total debt | C$142M | C$162M | C$144M | C$123M | C$166M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Orezone Gold ORE.TO | $1.46B | +31% | +93% | 40% | 6.9× | -8.0% |
| Endeavour Mining EDV.TO | $13.7B | -10% | +27% | 47% | 9.3× | -6.5% |
| Fortuna Mining FVI.TO | $2.87B | -5% | +6% | 49% | 6.4× | -4.6% |
| Allied Gold AAUC.TO | $3.24B | -19% | +54% | 32% | 3.9× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ORE.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.3% | -4.6% | 2nd lowest of 21 |
| 6-month return | +30.9% | -9.5% | 2nd highest of 18 |
| Distance from 52-week high | -16.5% | -35.2% | 3rd highest of 21 |
| Revenue growth (TTM) | +92.5% | +45.6% | 4th highest of 12 |
| Operating margin | 40.3% | 8.9% | 2nd highest of 12 |
| Forward P/E | 6.9× | 10.8× | cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | -8.0% | -0.1% | 3rd least demanding of 9 |
| Growth delivered (Del g) | +110.4% | +23.7% | highest of 9 |
| Hurdle (Req g minus delivered) | -118.3 pp | -17.9 pp | least demanding of 9 |
| ROIC minus cost of capital | +21.8 pp | -8.8 pp | 3rd highest of 17 |
| EV / EBITDA | 4.8× | 5.0× | 4th cheapest of 7 |
| Net debt / EBITDA | -0.0× | -0.1× | 3rd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Orezone Gold ORE.TO | Canada | $1.46B | +31% | +93% | 40% | 6.9× | -8.0% | +110.4% |
| Bellevue Gold BGL.AX | Australia | $1.46B | -16% | +14% | 5% | 13.3× | 41.2% | +13.9% |
| Perenti PRN.AX | Australia | $1.31B | -8% | -4% | 9% | 10.3× | -9.8% | +9.8% |
| AbraSilver Resource ABRA.TO | Canada | $1.30B | -37% | n/a | n/a | n/a | n/a | n/a |
| Alkane Resources ALK.AX | Australia | $1.63B | +11% | +403% | 34% | 11.9× | -1.2% | +48.9% |
| Beijing Xiaocheng Technology Stock 300139.SZ | China | $1.64B | -25% | +39% | 27% | n/a | 33.6% | +27.8% |
| Minerals 260 MI6.AX | Australia | $1.29B | +1% | n/a | n/a | n/a | n/a | n/a |
| Southern Cross Gold Consolidated SXGC.TO | Canada | $1.65B | -9% | n/a | n/a | n/a | n/a | n/a |
| i-80 Gold IAU.TO | Canada | $1.24B | -2% | +38% | -103% | n/a | n/a | n/a |
| Tongguan Gold 0340.HK | Hong Kong | $1.73B | -14% | +65% | 52% | 8.2× | -9.9% | +48.9% |
| EACON 7687.HK | Hong Kong | $1.23B | n/a | +46% | -22% | n/a | n/a | n/a |
| Hycroft Mining HYMC | United States | $1.75B | -51% | n/a | n/a | n/a | n/a | n/a |
| Vizsla Silver VZLA.TO | Canada | $1.18B | -1% | n/a | n/a | n/a | n/a | n/a |
| Resolute Mining RSG.AX | Australia | $1.81B | -12% | +5% | 35% | 10.0× | -7.2% | +8.9% |
| Henan Yuguang Gold & Lead 600531.SS | China | $1.83B | -32% | +48% | 2% | n/a | 7.9% | +19.6% |
| Benz Mining BZ.V | Canada | $1.15B | +120% | n/a | n/a | n/a | n/a | n/a |
| Sunshine Silver Mining & Refining SSMR | United States | $1.91B | n/a | +422% | -3,022% | n/a | n/a | n/a |
| Snowline Gold SGD.TO | Canada | $1.93B | -6% | n/a | n/a | n/a | n/a | n/a |
| Ora Banda Mining OBM.AX | Australia | $1.93B | +4% | +101% | 39% | 16.6× | 1.1% | +101.1% |
| Hemlo Mining HMMC.TO | Canada | $1.09B | -9% | n/a | n/a | 10.8× | n/a | n/a |
| Sinda SIND | United States | $1.95B | n/a | n/a | n/a | n/a | n/a | n/a |