OR Royalties (NYSE:OR) Announces Earnings Results, Beats Estimates By $0.01 EPS

OR Royalties (NYSE:OR) posted its quarterly earnings data on Wednesday. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01, Zacks reports. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%.

OR Royalties Trading Up 5.1%

OR stock traded up $1.56 during trading on Wednesday, hitting $32.32. The company had a trading volume of 1,213,135 shares, compared to its average volume of 991,022. The stock has a market cap of $6.05 billion, a PE ratio of 24.12 and a beta of 0.75. The business has a 50-day moving average of $31.86 and a 200-day moving average of $37.35. OR Royalties has a one year low of $27.54 and a one year high of $48.06.

Institutional Investors Weigh In On OR Royalties

A number of institutional investors and hedge funds have recently made changes to their positions in OR. FIL Ltd purchased a new stake in shares of OR Royalties in the fourth quarter valued at about $29,000. Wells Fargo & Company MN increased its stake in OR Royalties by 6.2% in the 4th quarter. Wells Fargo & Company MN now owns 5,901 shares of the basic materials company’s stock valued at $209,000 after buying an additional 346 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of OR Royalties during the 3rd quarter worth approximately $215,000. Flow Traders U.S. LLC bought a new position in shares of OR Royalties during the 3rd quarter worth approximately $217,000. Finally, Moors & Cabot Inc. bought a new position in shares of OR Royalties during the 3rd quarter worth approximately $220,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OR shares. Royal Bank Of Canada reduced their price objective on OR Royalties from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Weiss Ratings lowered OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 24th. Wall Street Zen downgraded shares of OR Royalties from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Scotiabank decreased their price objective on shares of OR Royalties from $51.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Finally, Jefferies Financial Group lowered their price target on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $40.50.

OR Royalties Company Profile

OR Royalties PLC (NYSE: OR) is a closed-ended investment company that specializes in acquiring and managing royalty interests in life science and pharmaceutical products. The company provides capital to biotechnology, specialty pharmaceutical and medical device companies in exchange for a share of future sales revenues. By focusing on royalties secured against marketed products, OR Royalties aims to deliver income and growth potential while minimizing the development and commercialization risks typically associated with direct equity stakes.

The company’s core activities include sourcing royalty transactions, structuring bespoke financing solutions and actively monitoring a diversified portfolio of assets.