Royal Bank Of Canada Forecasts Strong Price Appreciation for OR Royalties (NYSE:OR) Stock

Key Points

• Royal Bank of Canada raised OR Royalties’ price target to $47 from $45 and maintained an “outperform” rating, implying 32.39% upside from the previous close.
• Analyst sentiment remains generally positive but mixed: OR Royalties has an overall “Moderate Buy” consensus rating and an average price target of $41, with one Strong Buy, three Buy, and five Hold ratings.
• Shares recently fell 0.2% to $35.50. The company slightly exceeded quarterly EPS expectations, reporting $0.32 versus the $0.31 consensus, while revenue came in near estimates at $97.82 million.

OR Royalties (NYSE:OR - Get Free Report) had its target price boosted by Royal Bank Of Canada from $45.00 to $47.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an "outperform" rating on the basic materials company's stock. Royal Bank Of Canada's price objective suggests a potential upside of 32.39% from the stock's previous close.

A number of other equities research analysts also recently weighed in on OR. Zacks Research raised OR Royalties from a "strong sell" rating to a "hold" rating in a research note on Monday. Scotiabank reduced their price objective on shares of 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. Weiss Ratings downgraded OR Royalties from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 24th. Wall Street Zen cut OR Royalties from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Finally, Jefferies Financial Group reduced 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 note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $41.00.

OR Royalties Stock Down 0.2%

NYSE:OR traded down $0.08 on Wednesday, hitting $35.50. 537,756 shares of the company's stock traded hands, compared to its average volume of 1,157,926. The company has a market cap of $6.62 billion, a PE ratio of 23.69 and a beta of 0.80. OR Royalties has a 1 year low of $27.54 and a 1 year high of $48.06. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $33.05 and a 200-day moving average price of $35.87.

OR Royalties (NYSE:OR - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm 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%. Equities analysts anticipate that OR Royalties will post 1.25 EPS for the current fiscal year.

Hedge Funds Weigh In On OR Royalties

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FCA Corp TX grew its holdings in shares of OR Royalties by 0.8% in the 1st quarter. FCA Corp TX now owns 39,647 shares of the basic materials company's stock valued at $1,507,000 after buying an additional 330 shares during the period. Allworth Financial LP grew its stake in OR Royalties by 20.0% in the fourth quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company's stock valued at $82,000 after acquiring an additional 384 shares during the period. State of Wyoming acquired a new stake in shares of OR Royalties during the first quarter worth about $28,000. Banque Cantonale Vaudoise acquired a new stake in shares of OR Royalties during the first quarter worth about $37,000. Finally, Grove Bank & Trust acquired a new position in shares of OR Royalties in the 2nd quarter valued at approximately $32,000. Institutional investors own 68.52% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.