OR Royalties (NYSE:OR) Upgraded by Raymond James Financial to “Outperform” Rating

OR Royalties (NYSE:OR) was upgraded by Raymond James Financial from a “market perform” rating to an “outperform” rating in a research report issued on Thursday. The brokerage presently has a $41.00 price target on the basic materials company’s stock. Raymond James Financial’s price target would indicate a potential upside of 34.14% from the company’s current price.

OR has been the topic of several other research reports. Scotiabank lowered shares of OR Royalties from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $33.00 to $41.00 in a research report on Thursday, October 23rd. CIBC restated an “outperform” rating on shares of OR Royalties in a research note on Tuesday, July 15th. Wall Street Zen upgraded OR Royalties from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Jefferies Financial Group restated a “hold” rating and set a $40.00 target price (up previously from $34.00) on shares of OR Royalties in a report on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of OR Royalties in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.25.

OR Royalties Price Performance

NYSE:OR traded down $0.73 during mid-day trading on Thursday, reaching $30.57. 995,845 shares of the stock were exchanged, compared to its average volume of 961,934. OR Royalties has a 1-year low of $17.55 and a 1-year high of $42.25. The firm has a market capitalization of $5.75 billion, a PE ratio of 82.56 and a beta of 0.72. The business has a fifty day moving average price of $35.82 and a 200 day moving average price of $29.78. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 0.03.

OR Royalties (NYSE:OR) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. The firm had revenue of $71.63 million for the quarter, compared to analyst estimates of $53.85 million. Research analysts expect that OR Royalties will post 0.62 earnings per share for the current fiscal year.

Institutional Trading of OR Royalties

A number of hedge funds have recently modified their holdings of OR. Cetera Investment Advisers increased its position in shares of OR Royalties by 3.5% during the second quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock valued at $337,000 after buying an additional 440 shares during the period. Vident Advisory LLC grew its stake in shares of OR Royalties by 2.0% in the second quarter. Vident Advisory LLC now owns 42,349 shares of the basic materials company’s stock worth $1,089,000 after purchasing an additional 820 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in OR Royalties by 9.6% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 16,471 shares of the basic materials company’s stock worth $660,000 after purchasing an additional 1,446 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of OR Royalties by 0.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 283,500 shares of the basic materials company’s stock valued at $7,291,000 after purchasing an additional 1,500 shares during the period. Finally, SeaBridge Investment Advisors LLC increased its stake in shares of OR Royalties by 14.8% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 15,500 shares of the basic materials company’s stock worth $327,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

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.