Van ECK Associates Corp Reduces Holdings in OR Royalties Inc. $OR

Van ECK Associates Corp trimmed its stake in OR Royalties Inc. (NYSE:OR) by 21.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,265,520 shares of the basic materials company’s stock after selling 3,295,537 shares during the period. Van ECK Associates Corp owned 0.07% of OR Royalties worth $434,081,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assetmark Inc. purchased a new stake in shares of OR Royalties in the 4th quarter worth about $36,000. Caitlin John LLC purchased a new stake in shares of OR Royalties in the 3rd quarter worth about $78,000. Allworth Financial LP lifted its position in shares of OR Royalties by 20.0% in the 4th quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 384 shares during the period. Merit Financial Group LLC purchased a new stake in shares of OR Royalties in the 3rd quarter worth about $215,000. Finally, Flow Traders U.S. LLC purchased a new stake in shares of OR Royalties in the 3rd quarter worth about $217,000. 68.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Zacks Research cut shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Weiss Ratings lowered shares of OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $56.00 price target on shares of OR Royalties in a research note on Friday, April 10th. TD Securities reiterated a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Finally, Wall Street Zen lowered shares of OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.50.

OR Royalties Price Performance

Shares of OR Royalties stock opened at $33.83 on Friday. The company has a 50-day moving average of $37.67 and a 200 day moving average of $38.71. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 25.24 and a beta of 0.70. OR Royalties Inc. has a 1 year low of $24.76 and a 1 year high of $48.06.

OR Royalties (NYSE:OR) last released its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $102.83 million during the quarter, compared to analyst estimates of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. On average, equities analysts anticipate that OR Royalties Inc. will post 1.4 EPS for the current year.

OR Royalties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.065 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a yield of 0.8%. This is an increase from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio (DPR) is 16.42%.

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.