OR Royalties (NYSE:OR) Reaches New 12-Month High After Analyst Upgrade

OR Royalties Inc. (NYSE:OR) reached a new 52-week high during mid-day trading on Monday after Raymond James Financial raised their price target on the stock from $34.00 to $36.00. Raymond James Financial currently has an outperform rating on the stock. OR Royalties traded as high as $36.75 and last traded at $36.51, with a volume of 422458 shares trading hands. The stock had previously closed at $35.95.

Several other brokerages also recently weighed in on OR. Scotiabank increased their target price on shares of OR Royalties from $26.00 to $28.00 and gave the stock a “sector outperform” rating in a research note on Monday, July 7th. National Bankshares restated an “outperform” rating on shares of OR Royalties in a research report on Tuesday, June 24th. CIBC restated an “outperform” rating on shares of OR Royalties in a research report on Tuesday, July 15th. Finally, Wall Street Zen upgraded shares of OR Royalties from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.25.

Institutional Trading of OR Royalties

Hedge funds and other institutional investors have recently bought and sold shares of the company. Plato Investment Management Ltd purchased a new stake in OR Royalties in the 1st quarter worth approximately $56,000. Summit Securities Group LLC acquired a new position in shares of OR Royalties in the 1st quarter valued at $62,000. Employees Retirement System of Texas acquired a new position in shares of OR Royalties in the 4th quarter valued at $131,000. Twin Tree Management LP acquired a new position in shares of OR Royalties in the 2nd quarter valued at $245,000. Finally, Hsbc Holdings PLC acquired a new position in shares of OR Royalties in the 1st quarter valued at $208,000. 68.52% of the stock is owned by hedge funds and other institutional investors.

OR Royalties Stock Performance

The company has a market cap of $6.92 billion, a price-to-earnings ratio of 99.21 and a beta of 0.72. The stock’s fifty day simple moving average is $30.09 and its two-hundred day simple moving average is $25.51. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.73 and a current ratio of 4.73.

OR Royalties (NYSE:OR) last announced its quarterly earnings results on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The company had revenue of $60.36 million during the quarter, compared to analyst estimates of $83.25 million. OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. Equities research analysts anticipate that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.055 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.22 annualized dividend and a yield of 0.6%. OR Royalties’s payout ratio is 51.35%.

OR Royalties Company Profile

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.