Bank of America Corp DE Sells 326,063 Shares of Osisko Gold Royalties Ltd (NYSE:OR)

Bank of America Corp DE trimmed its stake in Osisko Gold Royalties Ltd (NYSE:OR - Free Report) by 38.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 533,021 shares of the basic materials company's stock after selling 326,063 shares during the quarter. Bank of America Corp DE owned 0.29% of Osisko Gold Royalties worth $9,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Osisko Gold Royalties in the 4th quarter valued at approximately $57,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in Osisko Gold Royalties during the fourth quarter valued at approximately $72,000. Northwest & Ethical Investments L.P. lifted its stake in Osisko Gold Royalties by 11.0% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,292 shares of the basic materials company's stock valued at $114,000 after acquiring an additional 626 shares during the last quarter. Employees Retirement System of Texas bought a new stake in Osisko Gold Royalties in the fourth quarter worth approximately $1,306,000. Finally, Franklin Resources Inc. grew its position in Osisko Gold Royalties by 4.5% in the fourth quarter. Franklin Resources Inc. now owns 12,282 shares of the basic materials company's stock worth $222,000 after acquiring an additional 534 shares in the last quarter. 68.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Scotiabank raised shares of Osisko Gold Royalties from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the company from $22.00 to $24.00 in a research note on Monday, April 14th. Royal Bank of Canada cut their target price on Osisko Gold Royalties from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Raymond James reiterated an "outperform" rating on shares of Osisko Gold Royalties in a research note on Friday, April 4th. Finally, National Bankshares reissued an "outperform" rating on shares of Osisko Gold Royalties in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $23.00.

Osisko Gold Royalties Stock Performance

Shares of OR traded down $0.09 during mid-day trading on Thursday, hitting $25.04. The company's stock had a trading volume of 45,675 shares, compared to its average volume of 744,851. The stock's 50-day moving average is $22.71 and its two-hundred day moving average is $20.28. The firm has a market capitalization of $4.69 billion, a PE ratio of 278.10 and a beta of 0.76. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.40 and a current ratio of 4.40. Osisko Gold Royalties Ltd has a one year low of $15.12 and a one year high of $25.65.

Osisko Gold Royalties (NYSE:OR - Get Free Report) last released its earnings results on Wednesday, May 7th. The basic materials company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. Osisko Gold Royalties had a net margin of 8.50% and a return on equity of 7.94%. The business had revenue of $54.92 million during the quarter, compared to analysts' expectations of $79.63 million. As a group, sell-side analysts anticipate that Osisko Gold Royalties Ltd will post 0.62 EPS for the current year.

Osisko Gold Royalties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.055 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.22 dividend on an annualized basis and a yield of 0.88%. This is an increase from Osisko Gold Royalties's previous quarterly dividend of $0.05. Osisko Gold Royalties's payout ratio is currently 105.88%.

Osisko Gold 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.