Picton Mahoney Asset Management Decreases Stock Position in OR Royalties Inc. $OR

Picton Mahoney Asset Management decreased its position in shares of OR Royalties Inc. (NYSE:OR) by 17.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,109,636 shares of the basic materials company’s stock after selling 664,674 shares during the period. OR Royalties comprises approximately 1.1% of Picton Mahoney Asset Management’s holdings, making the stock its 14th biggest holding. Picton Mahoney Asset Management owned about 1.65% of OR Royalties worth $124,609,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake 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 acquiring an additional 440 shares in the last quarter. Vident Advisory LLC boosted its holdings in OR Royalties by 2.0% in the second quarter. Vident Advisory LLC now owns 42,349 shares of the basic materials company’s stock valued at $1,089,000 after purchasing an additional 820 shares during the last quarter. HighTower Advisors LLC grew its stake in OR Royalties by 1.4% during the 3rd quarter. HighTower Advisors LLC now owns 79,518 shares of the basic materials company’s stock valued at $3,187,000 after purchasing an additional 1,088 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in OR Royalties by 9.6% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 16,471 shares of the basic materials company’s stock valued at $660,000 after purchasing an additional 1,446 shares in the last quarter. Finally, Caitlin John LLC purchased a new stake in OR Royalties during the 3rd quarter worth approximately $78,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on OR shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of OR Royalties in a research note on Wednesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $38.00 price target on shares of OR Royalties in a report on Sunday, December 7th. Scotiabank increased their price objective on shares of OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Weiss Ratings reissued a “buy (b)” rating on shares of OR Royalties in a research report on Monday, December 29th. Finally, Zacks Research upgraded shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.25.

OR Royalties Stock Performance

Shares of NYSE:OR opened at $44.03 on Wednesday. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 40.39 and a beta of 0.75. OR Royalties Inc. has a 1-year low of $17.61 and a 1-year high of $48.06. The company’s fifty day moving average is $41.40 and its two-hundred day moving average is $37.07.

OR Royalties (NYSE:OR) last posted its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $90.47 million during the quarter, compared to analyst estimates of $90.80 million. OR Royalties had a net margin of 74.30% and a return on equity of 12.73%. Sell-side analysts expect that OR Royalties Inc. will post 0.62 EPS for the current fiscal year.

OR Royalties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, March 31st. OR Royalties’s dividend payout ratio is presently 20.18%.

About OR Royalties

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.