OR Royalties Inc. (NYSE:OR) Shares Bought by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp has significantly increased its position in OR Royalties Inc. by 717.1%, owning approximately 0.42% of the company with a stake valued at $16.69 million.
• A recent quarterly dividend was announced, raising the dividend from $0.05 to $0.055 per share, resulting in an annualized yield of 0.8%.
• Recent analyst ratings indicate a mixed sentiment, with ratings ranging from "buy" to "hold", and an average target price for the stock set at $24.33.

Alberta Investment Management Corp raised its position in OR Royalties Inc. (NYSE:OR - Free Report) by 717.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 790,961 shares of the basic materials company's stock after buying an additional 694,161 shares during the period. Alberta Investment Management Corp owned about 0.42% of OR Royalties worth $16,690,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in OR Royalties in the 4th quarter valued at $60,364,000. Tidal Investments LLC purchased a new position in OR Royalties during the fourth quarter valued at $34,209,000. Mackenzie Financial Corp grew its position in shares of 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 period. FMR LLC grew its position in shares of OR Royalties by 25.2% in the fourth quarter. FMR LLC now owns 5,613,898 shares of the basic materials company's stock valued at $101,659,000 after purchasing an additional 1,128,969 shares during the period. Finally, Norges Bank purchased a new stake in shares of OR Royalties during the fourth quarter worth about $11,683,000. Institutional investors and hedge funds own 68.52% of the company's stock.

OR Royalties Price Performance

OR traded up $0.22 during trading on Friday, reaching $27.93. The company's stock had a trading volume of 763,459 shares, compared to its average volume of 845,692. The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $26.50 and a two-hundred day simple moving average of $22.73. OR Royalties Inc. has a 1 year low of $15.78 and a 1 year high of $28.87. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 164.29 and a beta of 0.71.

OR Royalties (NYSE:OR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. OR Royalties had a return on equity of 8.66% and a net margin of 15.28%. The firm had revenue of $54.92 million during the quarter, compared to analysts' expectations of $79.63 million. As a group, analysts anticipate that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.055 per share. The ex-dividend date was Monday, June 30th. This represents a $0.22 annualized dividend and a dividend yield of 0.8%. This is a boost from OR Royalties's previous quarterly dividend of $0.05. OR Royalties's payout ratio is presently 111.76%.

Wall Street Analysts Forecast Growth

OR has been the topic of a number of research reports. National Bankshares reaffirmed an "outperform" rating on shares of OR Royalties in a research note on Tuesday, June 24th. CIBC reissued an "outperform" rating on shares of OR Royalties in a report on Tuesday, July 15th. Scotiabank lifted their price target on OR Royalties from $26.00 to $28.00 and gave the stock a "sector outperform" rating in a research note on Monday, July 7th. Wall Street Zen cut OR Royalties from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Raymond James Financial restated an "outperform" rating on shares of OR Royalties in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.33.

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.