OR Royalties (NYSE:OR) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of OR Royalties (NYSE:OR) from a market perform rating to an outperform rating in a report published on Thursday morning, Marketbeat reports. They currently have $41.00 price objective on the basic materials company’s stock.

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity Group upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Scotiabank downgraded OR Royalties from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $33.00 to $41.00 in a research report on Thursday, October 23rd. Jefferies Financial Group reiterated a “hold” rating and set a $40.00 price target (up from $34.00) on shares of OR Royalties in a research note on Monday, October 6th. Zacks Research raised shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Finally, Wall Street Zen raised shares of OR Royalties from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.25.

OR Royalties Stock Performance

NYSE:OR opened at $31.98 on Thursday. 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 stock has a market capitalization of $6.02 billion, a P/E ratio of 86.44 and a beta of 0.72. The company has a 50 day moving average price of $35.81 and a 200 day moving average price of $29.90. OR Royalties has a fifty-two week low of $17.55 and a fifty-two week high of $42.25.

OR Royalties (NYSE:OR) last announced its earnings results on Wednesday, November 5th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. OR Royalties had a return on equity of 8.56% and a net margin of 35.25%.The company had revenue of $71.63 million for the quarter, compared to analyst estimates of $53.85 million. Equities research analysts forecast that OR Royalties will post 0.62 EPS for the current year.

OR Royalties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 31st. OR Royalties’s payout ratio is 29.73%.

Hedge Funds Weigh In On OR Royalties

Several large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in OR Royalties by 32.3% during the 1st quarter. Bank of New York Mellon Corp now owns 19,138 shares of the basic materials company’s stock worth $404,000 after buying an additional 4,669 shares during the last quarter. Genus Capital Management Inc. raised its position in shares of OR Royalties by 203.3% during the 1st quarter. Genus Capital Management Inc. now owns 105,800 shares of the basic materials company’s stock worth $2,233,000 after acquiring an additional 208,230 shares in the last quarter. SeaBridge Investment Advisors LLC lifted its stake in OR Royalties by 14.8% during the first quarter. SeaBridge Investment Advisors LLC now owns 15,500 shares of the basic materials company’s stock worth $327,000 after purchasing an additional 2,000 shares during the last quarter. Cetera Investment Advisers acquired a new position in OR Royalties in the first quarter valued at approximately $268,000. Finally, Mackenzie Financial Corp increased its stake in OR Royalties by 52.2% in the first quarter. Mackenzie Financial Corp now owns 5,040,962 shares of the basic materials company’s stock valued at $106,382,000 after purchasing an additional 1,728,760 shares during the last quarter. Hedge funds and other institutional investors own 68.52% of the company’s stock.

OR 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.