2,180,151 Shares in OR Royalties Inc. $OR Acquired by Elliott Investment Management L.P.

Key Points

• Elliott Investment Management L.P. has invested approximately $46.05 million in OR Royalties Inc., acquiring more than 2.1 million shares, representing about 0.3% of its investment portfolio.
• Analysts are optimistic about OR Royalties, with a majority rating it as a "buy" or "outperform" as they have raised target prices, reflecting confidence in the company's potential growth.
• OR Royalties recently reported a miss on earnings with an EPS of $0.13, below analysts' expectations of $0.17, and announced a quarterly dividend of $0.055 per share set to be paid on October 15th.

Elliott Investment Management L.P. bought a new stake in OR Royalties Inc. (NYSE:OR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,180,151 shares of the basic materials company's stock, valued at approximately $46,045,000. OR Royalties accounts for 0.3% of Elliott Investment Management L.P.'s investment portfolio, making the stock its 19th biggest holding. Elliott Investment Management L.P. owned approximately 1.17% of OR Royalties as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in OR Royalties during the first quarter worth about $62,000. Employees Retirement System of Texas acquired a new position in OR Royalties during the fourth quarter worth about $131,000. Hsbc Holdings PLC acquired a new position in OR Royalties during the first quarter worth about $208,000. Autumn Glory Partners LLC acquired a new position in OR Royalties during the first quarter worth about $232,000. Finally, Trexquant Investment LP acquired a new position in OR Royalties during the first quarter worth about $248,000. 68.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. National Bankshares restated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. CIBC restated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, July 15th. Scotiabank boosted their price target on shares of OR Royalties from $26.00 to $28.00 and gave the stock a "sector outperform" rating in a research report on Monday, July 7th. Finally, Wall Street Zen upgraded shares of OR Royalties from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.33.

OR Royalties Trading Up 2.3%

Shares of OR Royalties stock traded up $0.78 on Friday, reaching $34.30. The company had a trading volume of 1,066,262 shares, compared to its average volume of 767,065. The firm's 50 day moving average price is $29.13 and its two-hundred day moving average price is $24.84. The firm has a market cap of $6.46 billion, a PE ratio of 92.72 and a beta of 0.72. OR Royalties Inc. has a 52-week low of $16.50 and a 52-week high of $34.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.73 and a current ratio of 4.73.

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

OR Royalties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 30th. OR Royalties's payout ratio is 51.35%.

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.