Invesco Ltd. Has $23.85 Million Holdings in OR Royalties Inc. $OR

Key Points

• Invesco Ltd. has reduced its stake in OR Royalties Inc. by 14.2%, now owning approximately 1.13 million shares valued at around $23.85 million.
• Despite the reduction by Invesco, several hedge funds, including JPMorgan Chase and Barclays PLC, have increased their holdings in OR Royalties, indicating continued institutional interest in the stock.
• Analysts have mixed ratings for OR Royalties, with a consensus rating of "Moderate Buy" and an average price target of $24.33, following recent earnings that missed estimates.

Invesco Ltd. cut its stake in OR Royalties Inc. (NYSE:OR - Free Report) by 14.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,129,257 shares of the basic materials company's stock after selling 186,278 shares during the period. Invesco Ltd. owned approximately 0.60% of OR Royalties worth $23,850,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of OR Royalties by 20.4% during the 4th quarter. JPMorgan Chase & Co. now owns 20,402 shares of the basic materials company's stock worth $369,000 after buying an additional 3,455 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of OR Royalties by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 83,446 shares of the basic materials company's stock worth $1,528,000 after buying an additional 2,981 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of OR Royalties by 3.0% during the 4th quarter. Legal & General Group Plc now owns 163,374 shares of the basic materials company's stock worth $2,957,000 after buying an additional 4,750 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of OR Royalties during the 4th quarter worth about $2,587,000. Finally, Barclays PLC boosted its stake in shares of OR Royalties by 88.9% during the 4th quarter. Barclays PLC now owns 301,170 shares of the basic materials company's stock worth $5,451,000 after buying an additional 141,762 shares during the last quarter. 68.52% of the stock is owned by institutional investors and hedge funds.

OR Royalties Stock Performance

NYSE:OR traded up $0.2320 during mid-day trading on Friday, hitting $30.8820. The stock had a trading volume of 739,725 shares, compared to its average volume of 798,207. OR Royalties Inc. has a twelve month low of $16.50 and a twelve month high of $31.28. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 55.12 and a beta of 0.71. The company's 50 day simple moving average is $27.84 and its 200 day simple moving average is $24.02. 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 issued its earnings results on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share (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 firm had revenue of $60.36 million during the quarter, compared to analyst estimates of $83.25 million. On average, equities research analysts forecast that OR Royalties Inc. will post 0.62 earnings per share for the current year.

OR Royalties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 30th. OR Royalties's dividend payout ratio is currently 51.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of OR Royalties from a "hold" rating to a "buy" rating in a research note on Friday. Scotiabank increased their price objective on shares of OR Royalties from $26.00 to $28.00 and gave the stock a "sector outperform" rating in a research note on Monday, July 7th. CIBC restated an "outperform" rating on shares of OR Royalties in a research note on Tuesday, July 15th. Finally, National Bankshares restated an "outperform" rating on shares of OR Royalties in a research note on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.33.

OR Royalties 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.