OR Royalties (NYSE:OR) Stock Rating Upgraded by Wall Street Zen

OR Royalties (NYSE:OR) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Other equities analysts have also issued research reports about the stock. Jefferies Financial Group reiterated a “hold” rating and set a $38.00 target price on shares of OR Royalties in a research report on Sunday, December 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of OR Royalties in a research report on Monday, December 29th. Scotiabank lowered shares of OR Royalties from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $33.00 to $41.00 in a report on Thursday, October 23rd. Raymond James Financial raised shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a research note on Thursday, November 6th. Finally, Canaccord Genuity Group upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, OR Royalties currently has a consensus rating of “Moderate Buy” and an average price target of $35.75.

OR Royalties Stock Down 0.7%

OR stock opened at $35.14 on Friday. OR Royalties has a twelve month low of $17.55 and a twelve month high of $42.25. The firm has a market capitalization of $6.61 billion, a PE ratio of 44.48 and a beta of 0.78. The stock’s 50 day moving average is $34.01 and its 200-day moving average is $32.71.

OR Royalties (NYSE:OR) last announced its earnings results on Wednesday, November 5th. The basic materials company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. OR Royalties had a return on equity of 10.67% and a net margin of 60.72%.The firm had revenue of $71.63 million for the quarter, compared to the consensus estimate of $53.85 million. On average, equities research analysts anticipate that OR Royalties will post 0.62 earnings per share for the current fiscal year.

Institutional Trading of OR Royalties

Institutional investors have recently made changes to their positions in the business. Forge First Asset Management Inc. purchased a new position in shares of OR Royalties in the second quarter worth about $2,385,000. Horizon Kinetics Asset Management LLC grew its holdings in OR Royalties by 6.7% in the second quarter. Horizon Kinetics Asset Management LLC now owns 1,817,501 shares of the basic materials company’s stock valued at $46,728,000 after purchasing an additional 114,464 shares during the period. Trexquant Investment LP acquired a new position in OR Royalties during the first quarter worth $248,000. Hsbc Holdings PLC acquired a new stake in OR Royalties in the 1st quarter worth about $208,000. Finally, Picton Mahoney Asset Management purchased a new position in OR Royalties in the 2nd quarter valued at $96,617,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.

OR Royalties Company Profile

OR Royalties PLC (NYSE: OR) is a closed-ended investment company that specializes in acquiring and managing royalty interests in life science and pharmaceutical products. The company provides capital to biotechnology, specialty pharmaceutical and medical device companies in exchange for a share of future sales revenues. By focusing on royalties secured against marketed products, OR Royalties aims to deliver income and growth potential while minimizing the development and commercialization risks typically associated with direct equity stakes.

The company’s core activities include sourcing royalty transactions, structuring bespoke financing solutions and actively monitoring a diversified portfolio of assets.