Wall Street Zen Upgrades OR Royalties (NYSE:OR) to “Strong-Buy”

OR Royalties (NYSE:OR) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group upgraded shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Jefferies Financial Group reissued a “hold” rating and set a $40.00 price objective (up previously from $34.00) on shares of OR Royalties in a report on Monday, October 6th. Raymond James Financial upgraded OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a research report on Thursday, November 6th. Zacks Research upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Scotiabank downgraded OR Royalties from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $33.00 to $41.00 in a research note on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $36.25.

OR Royalties Price Performance

Shares of OR Royalties stock opened at $34.80 on Friday. The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 0.03. OR Royalties has a 52 week low of $17.55 and a 52 week high of $42.25. The stock’s 50-day simple moving average is $35.25 and its 200-day simple moving average is $30.89. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 94.05 and a beta of 0.72.

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

Institutional Trading of OR Royalties

Large investors have recently made changes to their positions in the stock. Caitlin John LLC bought a new stake in OR Royalties during the 3rd quarter valued at about $78,000. Plato Investment Management Ltd purchased a new position in shares of OR Royalties during the first quarter worth approximately $56,000. Summit Securities Group LLC bought a new stake in shares of OR Royalties during the first quarter valued at approximately $62,000. Eagle Global Advisors LLC purchased a new stake in shares of OR Royalties in the third quarter valued at approximately $206,000. Finally, Merit Financial Group LLC purchased a new stake in shares of OR Royalties in the third quarter valued at approximately $215,000. 68.52% of the stock is owned by hedge funds and other institutional investors.

About OR 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.