OR Royalties (NYSE:OR) Announces Earnings Results, Beats Expectations By $0.01 EPS

OR Royalties (NYSE:OR) announced its earnings results on Wednesday. The basic materials company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01, Zacks reports. OR Royalties had a net margin of 60.72% and a return on equity of 10.67%.

OR Royalties Stock Up 2.9%

Shares of NYSE:OR traded up $1.21 during midday trading on Wednesday, reaching $43.52. The company’s stock had a trading volume of 1,328,188 shares, compared to its average volume of 1,592,265. The stock has a fifty day moving average of $39.57 and a 200 day moving average of $36.02. OR Royalties has a twelve month low of $17.55 and a twelve month high of $47.75. The firm has a market capitalization of $8.16 billion, a PE ratio of 55.09 and a beta of 0.76.

Wall Street Analysts Forecast Growth

OR has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of OR Royalties in a research note on Monday, December 29th. Canaccord Genuity Group upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Raymond James Financial upgraded shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price objective on the stock in a report on Thursday, November 6th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of OR Royalties in a research report on Wednesday, February 4th. Finally, Zacks Research raised shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $38.25.

Hedge Funds Weigh In On OR Royalties

A number of institutional investors have recently modified their holdings of OR. XTX Topco Ltd purchased a new stake in shares of OR Royalties in the fourth quarter worth about $832,000. Yaupon Capital Management LP lifted its holdings in OR Royalties by 5.6% in the fourth quarter. Yaupon Capital Management LP now owns 205,228 shares of the basic materials company’s stock valued at $7,270,000 after acquiring an additional 10,809 shares during the period. Oxford Asset Management LLP lifted its holdings in OR Royalties by 103.6% in the fourth quarter. Oxford Asset Management LLP now owns 26,977 shares of the basic materials company’s stock valued at $955,000 after acquiring an additional 13,724 shares during the period. Millennium Management LLC purchased a new stake in OR Royalties during the fourth quarter worth $23,028,000. Finally, Man Group plc grew its position in OR Royalties by 248.9% during the fourth quarter. Man Group plc now owns 491,484 shares of the basic materials company’s stock valued at $17,394,000 after buying an additional 350,619 shares during the period. 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.