OR Royalties Inc. (NYSE:OR) Receives $24.33 Average Price Target from Brokerages

Shares of OR Royalties Inc. (NYSE:OR) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $24.3333.

Several research firms have recently issued reports on OR. CIBC restated an “outperform” rating on shares of OR Royalties in a report on Tuesday, July 15th. Scotiabank increased their price target on shares of OR Royalties from $26.00 to $28.00 and gave the stock a “sector outperform” rating in a report on Monday, July 7th. Wall Street Zen upgraded shares of OR Royalties from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Finally, National Bankshares reiterated an “outperform” rating on shares of OR Royalties in a report on Tuesday, June 24th.

Institutional Investors Weigh In On OR Royalties

Several hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC purchased a new stake in OR Royalties in the 2nd quarter worth approximately $586,000. B. Riley Wealth Advisors Inc. purchased a new stake in OR Royalties in the 2nd quarter worth approximately $628,000. Newbridge Financial Services Group Inc. purchased a new stake in OR Royalties in the 2nd quarter worth approximately $451,000. Advisory Services Network LLC purchased a new stake in OR Royalties in the 2nd quarter worth approximately $798,000. Finally, State of Tennessee Department of Treasury boosted its position in OR Royalties by 12.9% in the 2nd quarter. State of Tennessee Department of Treasury now owns 303,360 shares of the basic materials company’s stock worth $7,781,000 after purchasing an additional 34,700 shares in the last quarter. Hedge funds and other institutional investors own 68.52% of the company’s stock.

OR Royalties Stock Performance

OR opened at $35.56 on Thursday. OR Royalties has a 52-week low of $16.90 and a 52-week high of $35.62. The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 0.03. The company has a market cap of $6.69 billion, a P/E ratio of 96.11 and a beta of 0.72. The firm’s 50-day moving average price is $29.70 and its 200-day moving average price is $25.17.

OR Royalties (NYSE:OR) last posted its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. The company had revenue of $60.36 million for the quarter, compared to analyst estimates of $83.25 million. As a group, equities analysts anticipate that OR Royalties will post 0.62 EPS for the current fiscal year.

OR Royalties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, September 30th. OR Royalties’s dividend payout ratio is currently 51.35%.

About OR 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.