Groupe la Francaise Buys 110,000 Shares of OR Royalties Inc. $OR

Key Points

• Groupe la Francaise more than doubled its OR Royalties stake in the first quarter, buying 110,000 shares to hold 200,000 shares valued at approximately $7.6 million. Institutional investors collectively own 68.52% of the company.
• OR Royalties reported quarterly EPS of $0.40, beating estimates of $0.34, while revenue of $102.83 million was slightly below expectations. The company also raised its quarterly dividend to $0.065 per share, implying a 0.9% annual yield.
• The stock opened at $29.74, near its 52-week low, and analysts have recently cut price targets and ratings. The consensus rating is Hold, with an average target price of $40.50.

Groupe la Francaise increased its stake in shares of OR Royalties Inc. (NYSE:OR - Free Report) by 122.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 200,000 shares of the basic materials company's stock after buying an additional 110,000 shares during the period. Groupe la Francaise owned about 0.11% of OR Royalties worth $7,591,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Linden Thomas Advisory Services LLC grew its position in shares of OR Royalties by 4.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 6,254 shares of the basic materials company's stock valued at $221,000 after acquiring an additional 249 shares during the period. FCA Corp TX increased its stake in OR Royalties by 0.8% in the first quarter. FCA Corp TX now owns 39,647 shares of the basic materials company's stock valued at $1,507,000 after acquiring an additional 330 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of OR Royalties by 6.2% during the 4th quarter. Wells Fargo & Company MN now owns 5,901 shares of the basic materials company's stock valued at $209,000 after purchasing an additional 346 shares during the last quarter. Allworth Financial LP grew its position in OR Royalties by 20.0% during the fourth quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company's stock valued at $82,000 after acquiring an additional 384 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in OR Royalties by 3.5% in the 2nd quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company's stock worth $337,000 after purchasing an additional 440 shares during the period. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

OR Royalties Price Performance

NYSE OR opened at $29.74 on Friday. The stock has a market capitalization of $5.57 billion, a PE ratio of 22.19 and a beta of 0.74. The business has a 50 day simple moving average of $32.15 and a two-hundred day simple moving average of $37.57. OR Royalties Inc. has a 1-year low of $27.54 and a 1-year high of $48.06.

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

OR Royalties Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OR. Weiss Ratings lowered OR Royalties from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 24th. Jefferies Financial Group dropped their price target 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. Zacks Research downgraded OR Royalties from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Scotiabank dropped their target price on shares of OR Royalties from $51.00 to $42.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada dropped their target price on OR Royalties from $50.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock 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.

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