Osisko Gold Royalties Ltd (NYSE:OR) to Issue Quarterly Dividend of $0.06

Osisko Gold Royalties Ltd (NYSE:OR) declared a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Stockholders of record on Monday, June 30th will be paid a dividend of 0.055 per share by the basic materials company on Tuesday, July 15th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Monday, June 30th. This is a 20.3% increase from Osisko Gold Royalties’s previous quarterly dividend of $0.05.

Osisko Gold Royalties has increased its dividend by an average of 6.7% per year over the last three years. Osisko Gold Royalties has a dividend payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Osisko Gold Royalties to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 22.5%.

Osisko Gold Royalties Trading Down 7.8%

NYSE:OR traded down $1.90 during mid-day trading on Monday, reaching $22.46. The company’s stock had a trading volume of 1,209,996 shares, compared to its average volume of 726,811. The stock has a market cap of $4.20 billion, a P/E ratio of 249.56 and a beta of 0.76. Osisko Gold Royalties has a twelve month low of $15.12 and a twelve month high of $24.70. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.40 and a quick ratio of 4.40. The company’s fifty day simple moving average is $21.46 and its two-hundred day simple moving average is $19.95.

Osisko Gold Royalties (NYSE:OR) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $54.92 million during the quarter, compared to the consensus estimate of $79.63 million. Osisko Gold Royalties had a return on equity of 7.94% and a net margin of 8.50%. On average, equities analysts predict that Osisko Gold Royalties will post 0.62 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. National Bankshares reaffirmed an “outperform” rating on shares of Osisko Gold Royalties in a report on Wednesday, April 23rd. Raymond James restated an “outperform” rating on shares of Osisko Gold Royalties in a research note on Friday, April 4th. Scotiabank upgraded Osisko Gold Royalties from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $22.00 to $24.00 in a research report on Monday, April 14th. Finally, Royal Bank of Canada dropped their target price on Osisko Gold Royalties from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Osisko Gold Royalties presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

About Osisko Gold Royalties

Osisko Gold Royalties Ltd acquires and manages precious metal and other royalties, streams, and other interests in Canada and internationally. It also owns options on offtake; royalty/stream financings; and exclusive rights to participate in future royalty/stream financings on various projects. The company’s primary asset is a 3-5% net smelter return royalty on the Canadian Malartic complex located in Canada.