CIBC Asset Management Inc Lowers Stake in Osisko Gold Royalties Ltd (NYSE:OR)

CIBC Asset Management Inc trimmed its position in Osisko Gold Royalties Ltd (NYSE:OR) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,559,462 shares of the basic materials company’s stock after selling 85,017 shares during the quarter. CIBC Asset Management Inc owned 1.37% of Osisko Gold Royalties worth $47,426,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC lifted its position in Osisko Gold Royalties by 23.8% during the first quarter. SG Americas Securities LLC now owns 61,617 shares of the basic materials company’s stock valued at $1,012,000 after buying an additional 11,844 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Osisko Gold Royalties by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 6,796,280 shares of the basic materials company’s stock valued at $111,595,000 after acquiring an additional 60,083 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Osisko Gold Royalties by 3.2% during the 1st quarter. National Bank of Canada FI now owns 1,473,449 shares of the basic materials company’s stock valued at $24,046,000 after acquiring an additional 45,866 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Osisko Gold Royalties by 219.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 53,742 shares of the basic materials company’s stock worth $880,000 after purchasing an additional 36,929 shares during the period. Finally, Anson Funds Management LP acquired a new stake in Osisko Gold Royalties in the 1st quarter valued at $1,149,000. 68.52% of the stock is owned by institutional investors and hedge funds.

Osisko Gold Royalties Stock Performance

Shares of OR opened at $18.59 on Friday. The firm has a 50-day moving average price of $19.13 and a 200 day moving average price of $17.52. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 0.05. Osisko Gold Royalties Ltd has a 52-week low of $11.93 and a 52-week high of $21.29.

Osisko Gold Royalties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.048 dividend. This represents a $0.19 dividend on an annualized basis and a yield of 1.03%. This is an increase from Osisko Gold Royalties’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, December 31st. Osisko Gold Royalties’s dividend payout ratio is -90.48%.

Wall Street Analysts Forecast Growth

OR has been the topic of several recent research reports. TD Cowen lowered Osisko Gold Royalties from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada reduced their price target on shares of Osisko Gold Royalties from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. Jefferies Financial Group boosted their target price on shares of Osisko Gold Royalties from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, TD Securities lowered Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a research report on Monday.

About Osisko Gold Royalties

Osisko Gold Royalties Ltd acquires and manages precious metal and other royalties, streams, and other interests in Canada and internationally. It also owns options on offtake; royalty/stream financings; and exclusive rights to participate in future royalty/stream financings on various projects. The company’s primary asset is a 3-5% net smelter return royalty on the Canadian Malartic complex located in Canada.