Osisko Gold Royalties (NYSE:OR) Upgraded to “Sector Outperform” at Scotiabank

Osisko Gold Royalties (NYSE:OR) was upgraded by stock analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research report issued on Monday, Marketbeat.com reports. The firm currently has a $24.00 price target on the basic materials company’s stock, up from their prior price target of $22.00. Scotiabank’s price objective points to a potential upside of 7.39% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Raymond James reissued an “outperform” rating on shares of Osisko Gold Royalties in a research report on Friday, April 4th. National Bankshares reaffirmed an “outperform” rating on shares of Osisko Gold Royalties in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada decreased their price target on shares of Osisko Gold Royalties from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, April 4th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Osisko Gold Royalties Price Performance

OR stock opened at $22.35 on Monday. Osisko Gold Royalties has a 12 month low of $15.12 and a 12 month high of $22.89. The company has a 50-day moving average price of $19.74 and a 200 day moving average price of $19.39. The stock has a market cap of $4.17 billion, a PE ratio of 248.32 and a beta of 0.88. 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 (NYSE:OR) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $56.74 million for the quarter, compared to analysts’ expectations of $68.31 million. Osisko Gold Royalties had a net margin of 8.50% and a return on equity of 7.94%. Equities research analysts anticipate that Osisko Gold Royalties will post 0.62 earnings per share for the current year.

Institutional Investors Weigh In On Osisko Gold Royalties

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Osisko Gold Royalties by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 7,208,346 shares of the basic materials company’s stock valued at $130,529,000 after purchasing an additional 128,099 shares during the period. FMR LLC boosted its stake in Osisko Gold Royalties by 25.2% during the fourth quarter. FMR LLC now owns 5,613,898 shares of the basic materials company’s stock worth $101,659,000 after buying an additional 1,128,969 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Osisko Gold Royalties by 352.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,099,521 shares of the basic materials company’s stock valued at $74,160,000 after purchasing an additional 3,194,173 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Osisko Gold Royalties in the 4th quarter valued at approximately $60,364,000. Finally, CIBC Asset Management Inc increased its stake in Osisko Gold Royalties by 21.6% during the fourth quarter. CIBC Asset Management Inc now owns 3,111,398 shares of the basic materials company’s stock worth $56,215,000 after acquiring an additional 551,936 shares during the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

Osisko Gold Royalties Company Profile

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.