Raymond James Financial Downgrades OR Royalties (NYSE:OR) to Hold

OR Royalties (NYSE:OR) was downgraded by Raymond James Financial from a “moderate buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

OR has been the subject of a number of other research reports. Scotiabank increased their price objective on shares of OR Royalties from $26.00 to $28.00 and gave the company a “sector outperform” rating in a research note on Monday, July 7th. CIBC restated an “outperform” rating on shares of OR Royalties in a research note on Tuesday, July 15th. Canaccord Genuity Group cut shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of OR Royalties in a research report on Wednesday. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $40.00 target price (up previously from $34.00) on shares of OR Royalties in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, OR Royalties has an average rating of “Moderate Buy” and a consensus target price of $33.00.

OR Royalties Trading Up 0.1%

Shares of OR stock opened at $37.63 on Thursday. OR Royalties has a 52-week low of $17.55 and a 52-week high of $42.25. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 101.71 and a beta of 0.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.73 and a current ratio of 4.73. The firm has a fifty day moving average of $34.36 and a 200-day moving average of $28.03.

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

Institutional Investors Weigh In On OR Royalties

A number of hedge funds have recently added to or reduced their stakes in OR. Plato Investment Management Ltd bought a new stake in OR Royalties during the 1st quarter worth about $56,000. Summit Securities Group LLC bought a new stake in OR Royalties during the 1st quarter worth about $62,000. Hsbc Holdings PLC bought a new stake in OR Royalties during the 1st quarter worth about $208,000. Autumn Glory Partners LLC bought a new stake in OR Royalties during the 1st quarter worth about $232,000. Finally, Twin Tree Management LP bought a new stake in OR Royalties during the 2nd quarter worth about $245,000. Institutional investors own 68.52% of the company’s stock.

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.