Bank of Montreal and its affiliates have reported a substantial stake in OR Royalties Inc., according to a recent SEC filing. The filing, dated November 12, 2026, reveals that the bank holds a total of 9,505,669 shares, which accounts for approximately 5.1% of the company's outstanding common stock. This development is noteworthy as it highlights the bank's strategic interest in the gold and silver ores sector.

OR Royalties Inc., formerly known as Osisko Gold Royalties LTD, operates in the Gold and Silver Ores industry, classified under SIC code 1040. The company is listed on the New York Stock Exchange under the ticker symbol OR. Its principal executive office is located in Montreal, Canada. The recent filing is part of a series of disclosures made by the company, including multiple Schedule 13G submissions and Form 6-K filings throughout 2026.

The latest Schedule 13G filing indicates that Bank of Montreal and its related entities, including Bank of Montreal Holding Inc., BMO Nesbitt Burns Inc., and BMO Asset Management Inc., collectively own the reported shares. The filing specifies that the shares are held in the ordinary course of business, with no intention of influencing the control of OR Royalties Inc.

This stake may have implications for the broader industry as it reflects continued investment interest in the gold and silver sector amidst fluctuating market conditions. The filing also indicates that certain securities are held on behalf of clients, which may suggest a broader strategy involving client investments in the precious metals market.

As for the next steps, the filing does not specify any immediate actions or upcoming votes related to this ownership stake. However, the significant holding by Bank of Montreal may prompt other financial institutions and investors to reassess their positions within the gold and silver ores industry.

Details were not available in the SEC filing regarding any future plans or strategies that OR Royalties Inc. may pursue in light of this new investment. Investors and analysts will likely monitor any further disclosures or developments from both the bank and the company in the coming months.