OR Royalties Inc. $OR Shares Bought by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. significantly increased its holdings in OR Royalties by 134.6% during the first quarter, acquiring an additional 216,000 shares for a total investment of approximately $7.95 million.
• Several hedge funds, including T. Rowe Price and Hsbc Holdings PLC, also elevated their stakes in OR Royalties, indicating strong institutional interest with over 68% of the stock owned by institutional investors.
• OR Royalties missed earnings expectations for the latest quarter, reporting earnings of $0.13 per share against a consensus estimate of $0.17, while also announcing a quarterly dividend of $0.055 per share.

1832 Asset Management L.P. lifted its position in shares of OR Royalties Inc. (NYSE:OR - Free Report) by 134.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 376,460 shares of the basic materials company's stock after acquiring an additional 216,000 shares during the quarter. 1832 Asset Management L.P. owned 0.20% of OR Royalties worth $7,951,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in OR Royalties in the 1st quarter valued at about $62,000. Employees Retirement System of Texas purchased a new stake in shares of OR Royalties in the fourth quarter valued at about $131,000. Hsbc Holdings PLC acquired a new stake in shares of OR Royalties in the first quarter valued at approximately $208,000. Autumn Glory Partners LLC acquired a new stake in shares of OR Royalties in the first quarter valued at approximately $232,000. Finally, Cetera Investment Advisers purchased a new position in shares of OR Royalties during the 1st quarter worth approximately $268,000. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

OR Royalties Stock Up 3.0%

NYSE OR traded up $0.93 during mid-day trading on Friday, reaching $32.16. 318,356 shares of the company's stock traded hands, compared to its average volume of 849,027. OR Royalties Inc. has a 1-year low of $16.50 and a 1-year high of $32.15. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 0.03. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 86.87 and a beta of 0.71. The company has a fifty day simple moving average of $28.24 and a 200-day simple moving average of $24.30.

OR Royalties (NYSE:OR - Get Free Report) last released its earnings results on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). OR Royalties had a return on equity of 8.56% and a net margin of 35.25%.The company had revenue of $60.36 million during the quarter, compared to the consensus estimate of $83.25 million. As a group, equities research analysts expect that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.055 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.22 annualized dividend and a dividend yield of 0.7%. OR Royalties's payout ratio is 51.35%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on OR. CIBC reaffirmed an "outperform" rating on shares of OR Royalties in a research note on Tuesday, July 15th. Scotiabank upped their price objective on OR Royalties from $26.00 to $28.00 and gave the company a "sector outperform" rating in a research report on Monday, July 7th. Wall Street Zen raised OR Royalties from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Finally, National Bankshares reissued an "outperform" rating on shares of OR Royalties in a research note on Tuesday, June 24th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.33.

OR Royalties 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.