Principal Financial Group Inc. Sells 38,000 Shares of OR Royalties Inc. $OR

Principal Financial Group Inc. trimmed its holdings in OR Royalties Inc. (NYSE:OR) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,117,810 shares of the basic materials company’s stock after selling 38,000 shares during the quarter. Principal Financial Group Inc.’s holdings in OR Royalties were worth $44,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Forge First Asset Management Inc. acquired a new position in OR Royalties in the second quarter valued at approximately $2,385,000. CWA Asset Management Group LLC increased its stake in shares of OR Royalties by 112.6% in the 3rd quarter. CWA Asset Management Group LLC now owns 381,747 shares of the basic materials company’s stock valued at $15,300,000 after acquiring an additional 202,173 shares in the last quarter. Synergy Asset Management LLC lifted its position in shares of OR Royalties by 200.0% during the 3rd quarter. Synergy Asset Management LLC now owns 52,851 shares of the basic materials company’s stock valued at $2,118,000 after acquiring an additional 35,234 shares during the period. U S Global Investors Inc. lifted its position in shares of OR Royalties by 62.0% during the 3rd quarter. U S Global Investors Inc. now owns 931,076 shares of the basic materials company’s stock valued at $37,312,000 after acquiring an additional 356,245 shares during the period. Finally, Horizon Kinetics Asset Management LLC boosted its stake in OR Royalties by 6.7% during the second quarter. Horizon Kinetics Asset Management LLC now owns 1,817,501 shares of the basic materials company’s stock worth $46,728,000 after acquiring an additional 114,464 shares in the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

OR Royalties Trading Up 2.0%

Shares of OR Royalties stock opened at $41.10 on Thursday. The company has a market capitalization of $7.69 billion, a P/E ratio of 52.03 and a beta of 0.76. The stock has a fifty day simple moving average of $38.21 and a 200 day simple moving average of $35.09. OR Royalties Inc. has a 12-month low of $17.55 and a 12-month high of $47.75.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OR shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $38.00 price target on shares of OR Royalties in a research note on Sunday, December 7th. Canaccord Genuity Group raised OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Scotiabank increased their price target on OR Royalties from $41.00 to $51.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. Zacks Research cut OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Finally, Raymond James Financial raised 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. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, OR Royalties currently has a consensus rating of “Moderate Buy” and an average target price of $38.25.

OR Royalties 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.