OR Royalties Inc. (NYSE:OR) Receives $40.50 Average Price Target from Analysts

Shares of OR Royalties Inc. (NYSE:OR) have been given an average rating of “Moderate Buy” by the nine analysts that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $41.00.

A number of research firms have commented on OR. Scotiabank decreased their price target on OR Royalties from $51.00 to $42.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Zacks Research upgraded shares of OR Royalties from a “strong sell” rating to a “hold” rating in a report on Monday. Jefferies Financial Group decreased their price objective on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Royal Bank Of Canada upped their price target on shares of OR Royalties from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wall Street Zen lowered shares of OR Royalties from a “buy” rating to a “hold” rating in a report on Saturday, June 6th.

OR Royalties Price Performance

Shares of OR stock opened at $35.43 on Monday. The company has a market cap of $6.60 billion, a P/E ratio of 23.62 and a beta of 0.80. The stock’s 50-day moving average is $33.17 and its 200 day moving average is $35.79. OR Royalties has a 1-year low of $27.54 and a 1-year high of $48.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.28 and a quick ratio of 2.28.

OR Royalties (NYSE:OR) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $97.82 million for the quarter, compared to analyst estimates of $97.93 million. OR Royalties had a net margin of 78.04% and a return on equity of 16.41%. Research analysts predict that OR Royalties will post 1.25 earnings per share for the current fiscal year.

OR Royalties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.065 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.26 dividend on an annualized basis and a yield of 0.7%. OR Royalties’s dividend payout ratio is currently 16.67%.

Hedge Funds Weigh In On OR Royalties

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of OR Royalties in the 4th quarter valued at $88,597,000. Verbena Value LP raised its holdings in shares of OR Royalties by 85.3% during the first quarter. Verbena Value LP now owns 1,294,900 shares of the basic materials company’s stock worth $49,232,000 after purchasing an additional 596,000 shares during the last quarter. Amundi lifted its position in OR Royalties by 8.4% during the first quarter. Amundi now owns 1,151,071 shares of the basic materials company’s stock valued at $43,764,000 after purchasing an additional 89,202 shares during the period. Bank of America Corp DE lifted its position in OR Royalties by 37.4% during the first quarter. Bank of America Corp DE now owns 1,008,086 shares of the basic materials company’s stock valued at $38,327,000 after purchasing an additional 274,486 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in OR Royalties by 86.2% in the first quarter. Renaissance Technologies LLC now owns 783,302 shares of the basic materials company’s stock valued at $29,781,000 after purchasing an additional 362,700 shares during the last quarter. 68.52% of the stock is owned by hedge funds and other institutional investors.

About OR Royalties

OR Royalties Inc (NYSE: OR) is a precious metals royalty and streaming company that provides financing to mining companies in exchange for the right to receive a portion of future production or revenue from their projects. Its portfolio is primarily focused on gold, silver and other metals, allowing the company to participate in mining output without directly operating mines.

The company’s business includes royalty interests, streams, offtake agreements and other investments linked to producing, developing and exploration-stage mining projects.