Global Alpha Capital Management Ltd. Has $8.35 Million Stake in OR Royalties Inc. (NYSE:OR)

Key Points

• Global Alpha Capital Management Ltd. reduced its stake in OR Royalties Inc. by 58.3%, now holding 395,422 shares valued at approximately $8.3 million.
• Other institutional investors also adjusted their investments, with Alberta Investment Management Corp. increasing its stake by 717.1% during the same quarter.
• OR Royalties announced a quarterly dividend of $0.055, representing an annualized yield of 0.7%, with the dividend to be paid on October 15th.

Global Alpha Capital Management Ltd. decreased its holdings in shares of OR Royalties Inc. (NYSE:OR - Free Report) by 58.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 395,422 shares of the basic materials company's stock after selling 551,800 shares during the quarter. Global Alpha Capital Management Ltd. owned 0.21% of OR Royalties worth $8,346,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. PCJ Investment Counsel Ltd. raised its stake in OR Royalties by 29.6% during the first quarter. PCJ Investment Counsel Ltd. now owns 201,220 shares of the basic materials company's stock worth $4,247,000 after acquiring an additional 45,940 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in OR Royalties by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 352,255 shares of the basic materials company's stock worth $7,433,000 after acquiring an additional 4,212 shares in the last quarter. Vanguard Group Inc. raised its stake in OR Royalties by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,251,763 shares of the basic materials company's stock worth $153,041,000 after acquiring an additional 43,417 shares in the last quarter. Alberta Investment Management Corp raised its stake in OR Royalties by 717.1% during the first quarter. Alberta Investment Management Corp now owns 790,961 shares of the basic materials company's stock worth $16,690,000 after acquiring an additional 694,161 shares in the last quarter. Finally, XTX Topco Ltd raised its stake in OR Royalties by 68.5% during the first quarter. XTX Topco Ltd now owns 28,365 shares of the basic materials company's stock worth $599,000 after acquiring an additional 11,535 shares in the last quarter. Institutional investors and hedge funds own 68.52% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Scotiabank boosted their target price 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. National Bankshares reaffirmed an "outperform" rating on shares of OR Royalties in a research note on Tuesday, June 24th. Wall Street Zen downgraded OR Royalties from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, CIBC reaffirmed an "outperform" rating on shares of OR Royalties in a research note on Tuesday, July 15th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.33.

OR Royalties Stock Performance

OR Royalties stock opened at $30.46 on Friday. The business has a 50 day moving average of $27.01 and a 200-day moving average of $23.17. OR Royalties Inc. has a 1 year low of $16.11 and a 1 year high of $30.76. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.73 and a quick ratio of 4.98. The company has a market capitalization of $5.73 billion, a P/E ratio of 82.31 and a beta of 0.71.

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

OR Royalties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.055 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.22 annualized dividend and a yield of 0.7%. OR Royalties's dividend payout ratio is presently 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.

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