CIBC downgraded shares of Osisko gold royalties (NYSE:OR) from an outperform rating to a neutral rating in a research report sent to investors on Tuesday, The Fly reports. The brokerage currently has $15.25 target price on the basic materials company’s stock, down from their prior target price of $18.50.
OR has been the topic of several other reports. Canaccord Genuity reissued a buy rating on shares of Osisko gold royalties in a research report on Friday, August 23rd. Raymond James set a $18.00 price target on Osisko gold royalties and gave the stock a buy rating in a research report on Tuesday, September 24th. Royal Bank of Canada downgraded Osisko gold royalties from an outperform rating to a sector perform rating and cut their price target for the stock from $19.00 to $16.00 in a research report on Tuesday, September 24th. Zacks Investment Research raised Osisko gold royalties from a hold rating to a buy rating and set a $11.00 price target on the stock in a research report on Saturday, September 28th. Finally, TD Securities cut their price target on Osisko gold royalties from $16.50 to $15.50 and set a hold rating on the stock in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $15.54.
Shares of NYSE OR traded up $0.04 during mid-day trading on Tuesday, hitting $8.50. The stock had a trading volume of 918,063 shares, compared to its average volume of 711,661. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.96 and a current ratio of 1.96. The company has a 50 day moving average of $9.70 and a two-hundred day moving average of $10.84. Osisko gold royalties has a twelve month low of $7.00 and a twelve month high of $13.43. The firm has a market cap of $1.33 billion, a PE ratio of 56.67, a PEG ratio of 1.87 and a beta of -0.07.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.038 per share. This represents a $0.15 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Monday, December 30th. Osisko gold royalties’s dividend payout ratio is currently 100.00%.
A number of institutional investors and hedge funds have recently made changes to their positions in OR. DekaBank Deutsche Girozentrale purchased a new stake in shares of Osisko gold royalties during the 2nd quarter worth about $697,000. Tocqueville Asset Management L.P. boosted its stake in shares of Osisko gold royalties by 136.0% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 8,559,606 shares of the basic materials company’s stock worth $33,729,000 after acquiring an additional 4,932,000 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Osisko gold royalties by 21.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,673,029 shares of the basic materials company’s stock worth $17,478,000 after acquiring an additional 293,420 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Osisko gold royalties during the 2nd quarter worth about $3,132,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Osisko gold royalties by 20.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,564,085 shares of the basic materials company’s stock worth $16,329,000 after acquiring an additional 268,985 shares in the last quarter. 52.86% of the stock is currently owned by institutional investors.
About Osisko gold royalties
Osisko Gold Royalties Ltd acquires and manages precious metal and other royalties, streams, and similar interests in Canada and internationally. Its assets include the 5% net smelter return (NSR) royalty on the Canadian Malartic mine; the 2.0% to 3.5% NSR royalty on the Eleonore mine; a 9.6% diamond stream on the Renard diamond mine; a 4% gold and silver stream on the Brucejack gold; a 3% NSR royalty on the Seabee gold operations located in Saskatchewan, Canada; and the 1.38% to 2.55% NSR royalty on the Island Gold mine.
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