Amundi Buys 89,202 Shares of OR Royalties Inc. $OR

Key Points

• Amundi increased its OR Royalties stake by 8.4%, purchasing 89,202 shares to own 1.15 million shares valued at approximately $43.8 million. Institutional investors collectively hold 68.52% of the company.
• OR Royalties reported quarterly EPS of $0.40, exceeding analyst expectations of $0.34, while revenue reached $102.83 million. The company also raised its quarterly dividend to $0.065 per share, equal to a 0.9% annualized yield.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $40.50; several firms recently downgraded the stock or reduced their price targets.

Amundi lifted its stake in shares of OR Royalties Inc. (NYSE:OR - Free Report) by 8.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,151,071 shares of the basic materials company's stock after buying an additional 89,202 shares during the quarter. Amundi owned about 0.61% of OR Royalties worth $43,764,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of OR. Vanguard Group Inc. increased its stake in shares of OR Royalties by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 7,847,015 shares of the basic materials company's stock valued at $277,965,000 after purchasing an additional 167,970 shares during the last quarter. Manning & Napier Advisors LLC lifted its position in shares of OR Royalties by 4.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 389,844 shares of the basic materials company's stock worth $13,815,000 after buying an additional 15,730 shares during the last quarter. U S Global Investors Inc. boosted its stake in OR Royalties by 55.8% in the first quarter. U S Global Investors Inc. now owns 534,625 shares of the basic materials company's stock valued at $20,326,000 after buying an additional 191,380 shares in the last quarter. Principal Financial Group Inc. lifted its stake in OR Royalties by 18.8% in the 4th quarter. Principal Financial Group Inc. now owns 1,327,678 shares of the basic materials company's stock valued at $47,062,000 after purchasing an additional 209,868 shares during the last quarter. Finally, McAlvany Wealth Management LLC bought a new stake in OR Royalties during the 4th quarter worth $2,744,000. Institutional investors own 68.52% of the company's stock.

OR Royalties Price Performance

Shares of OR Royalties stock opened at $29.74 on Monday. The firm has a market cap of $5.57 billion, a PE ratio of 22.19 and a beta of 0.75. OR Royalties Inc. has a 1 year low of $27.54 and a 1 year high of $48.06. The stock has a fifty day moving average price of $32.15 and a 200-day moving average price of $37.56.

OR Royalties (NYSE:OR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%.The business had revenue of $102.83 million for the quarter, compared to the consensus estimate of $103.27 million. As a group, equities analysts anticipate that OR Royalties Inc. will post 1.27 EPS for the current fiscal year.

OR Royalties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.065 dividend. This is a boost from OR Royalties's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a yield of 0.9%. OR Royalties's payout ratio is 18.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OR shares. Weiss Ratings lowered OR Royalties from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 24th. Royal Bank Of Canada dropped their price target on shares of OR Royalties from $50.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group reduced their price objective on shares of OR Royalties from $40.00 to $34.00 and set a "hold" rating on the stock in a research note on Monday, July 6th. Wall Street Zen cut shares of OR Royalties from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Finally, Zacks Research downgraded shares of OR Royalties from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, OR Royalties currently has an average rating of "Hold" and a consensus target price of $40.50.

About OR Royalties

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.

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.

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