Quadrature Capital Ltd Sells 23,300 Shares of OR Royalties Inc. $OR

Quadrature Capital Ltd lowered its stake in OR Royalties Inc. (NYSE:OR) by 37.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 38,400 shares of the basic materials company’s stock after selling 23,300 shares during the quarter. Quadrature Capital Ltd’s holdings in OR Royalties were worth $983,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Plato Investment Management Ltd bought a new stake in OR Royalties in the first quarter worth $56,000. Summit Securities Group LLC bought a new position in shares of OR Royalties during the first quarter valued at $62,000. Twin Tree Management LP purchased a new position in shares of OR Royalties in the 2nd quarter worth about $245,000. Hsbc Holdings PLC bought a new position in OR Royalties in the 1st quarter worth about $208,000. Finally, Trexquant Investment LP purchased a new stake in OR Royalties during the 1st quarter valued at about $248,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.

OR Royalties Stock Up 1.8%

OR Royalties stock opened at $34.80 on Monday. The stock has a market cap of $6.55 billion, a PE ratio of 94.05 and a beta of 0.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.73 and a current ratio of 4.73. The stock has a fifty day moving average of $35.25 and a 200 day moving average of $30.95. OR Royalties Inc. has a one year low of $17.55 and a one year high of $42.25.

OR Royalties (NYSE:OR) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The firm had revenue of $71.63 million during the quarter, compared to analyst estimates of $53.85 million. OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. As a group, sell-side analysts predict that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Wednesday, December 31st. OR Royalties’s dividend payout ratio (DPR) is currently 27.85%.

Analysts Set New Price Targets

OR has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OR Royalties in a report on Tuesday, November 25th. Canaccord Genuity Group raised shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Scotiabank lowered shares of OR Royalties from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $33.00 to $41.00 in a report on Thursday, October 23rd. Zacks Research upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Finally, Wall Street Zen raised OR Royalties from a “buy” rating to a “strong-buy” rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, OR Royalties presently has a consensus rating of “Buy” and an average price target of $36.25.

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.