Intact Investment Management Inc. Takes $1.54 Million Position in OR Royalties Inc. (NYSE:OR)

Intact Investment Management Inc. bought a new stake in OR Royalties Inc. (NYSE:OR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 73,000 shares of the basic materials company's stock, valued at approximately $1,541,000.

Several other institutional investors and hedge funds have also modified their holdings of OR. SBI Securities Co. Ltd. bought a new stake in OR Royalties during the 4th quarter worth about $57,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of OR Royalties during the fourth quarter valued at approximately $72,000. Northwest & Ethical Investments L.P. grew its stake in shares of OR Royalties by 11.0% during 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 purchasing an additional 626 shares during the last quarter. Employees Retirement System of Texas bought a new position in OR Royalties in the 4th quarter worth approximately $1,306,000. Finally, Autumn Glory Partners LLC acquired a new position in OR Royalties during the 1st quarter worth $232,000. 68.52% of the stock is owned by institutional investors and hedge funds.

OR Royalties Stock Down 0.2%

Shares of NYSE OR traded down $0.05 during midday trading on Wednesday, reaching $25.45. The company's stock had a trading volume of 535,586 shares, compared to its average volume of 731,181. The stock has a 50 day simple moving average of $24.69 and a 200-day simple moving average of $21.20. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 149.71 and a beta of 0.76. OR Royalties Inc. has a fifty-two week low of $15.24 and a fifty-two week high of $27.60.

OR 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. The firm had revenue of $54.92 million for the quarter, compared to analyst estimates of $79.63 million. OR Royalties had a net margin of 15.28% and a return on equity of 8.66%. Equities research analysts predict that OR Royalties Inc. will post 0.62 earnings per share for the current year.

OR Royalties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.86%. This is a boost from OR Royalties's previous quarterly dividend of $0.05. The ex-dividend date is Monday, June 30th. OR Royalties's dividend payout ratio (DPR) is presently 105.88%.

Analysts Set New Price Targets

Several analysts have weighed in on OR shares. Wall Street Zen raised OR Royalties from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Scotiabank upgraded shares of OR Royalties from a "sector perform" rating to a "sector outperform" rating and increased their price target for the company from $22.00 to $24.00 in a research report on Monday, April 14th. Royal Bank Of Canada decreased their price objective on shares of OR Royalties from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Friday, April 4th. National Bankshares reiterated an "outperform" rating on shares of OR Royalties in a report on Wednesday, April 23rd. Finally, Raymond James Financial reissued an "outperform" rating on shares of OR Royalties in a report on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.00.

About OR Royalties

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.