BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 196,783 Shares of Osisko Gold Royalties Ltd (NYSE:OR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of Osisko Gold Royalties Ltd (NYSE:OR - Free Report) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,806,408 shares of the basic materials company's stock after selling 196,783 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.97% of Osisko Gold Royalties worth $32,669,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

OR has been the topic of several analyst reports. Scotiabank upgraded shares of Osisko Gold Royalties from a "sector perform" rating to a "sector outperform" rating and raised their price target for the company from $22.00 to $24.00 in a research report on Monday, April 14th. Royal Bank of Canada reduced their target price on shares of Osisko Gold Royalties from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Friday, April 4th. National Bankshares reissued an "outperform" rating on shares of Osisko Gold Royalties in a report on Wednesday, April 23rd. Finally, Raymond James restated an "outperform" rating on shares of Osisko Gold Royalties in a report on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $23.00.

Osisko Gold Royalties Stock Down 1.0%

Osisko Gold Royalties stock traded down $0.27 during trading hours on Tuesday, hitting $25.14. The company had a trading volume of 274,758 shares, compared to its average volume of 745,891. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.40 and a quick ratio of 4.40. Osisko Gold Royalties Ltd has a fifty-two week low of $15.12 and a fifty-two week high of $25.65. The firm's fifty day moving average is $22.52 and its 200-day moving average is $20.22. The firm has a market capitalization of $4.71 billion, a P/E ratio of 279.02 and a beta of 0.76.

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

Osisko Gold Royalties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.87%. This is an increase from Osisko Gold Royalties's previous quarterly dividend of $0.05. The ex-dividend date is Monday, June 30th. Osisko Gold Royalties's payout ratio is presently 105.88%.

Osisko Gold 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.