Mackenzie Financial Corp Sells 380,934 Shares of Osisko Gold Royalties Ltd (NYSE:OR)

Mackenzie Financial Corp trimmed its stake in shares of Osisko Gold Royalties Ltd (NYSE:OR - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,312,202 shares of the basic materials company's stock after selling 380,934 shares during the quarter. Mackenzie Financial Corp owned approximately 1.77% of Osisko Gold Royalties worth $59,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Osisko Gold Royalties during the 4th quarter valued at $60,364,000. Arrowstreet Capital Limited Partnership boosted its position in Osisko Gold Royalties by 352.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,099,521 shares of the basic materials company's stock valued at $74,160,000 after buying an additional 3,194,173 shares during the period. Tidal Investments LLC purchased a new stake in Osisko Gold Royalties during the 4th quarter valued at $34,209,000. FMR LLC boosted its position in Osisko Gold Royalties by 25.2% during the 4th quarter. FMR LLC now owns 5,613,898 shares of the basic materials company's stock valued at $101,659,000 after buying an additional 1,128,969 shares during the period. Finally, Norges Bank purchased a new stake in Osisko Gold Royalties during the 4th quarter valued at $11,683,000. 68.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OR has been the subject of several research analyst reports. Royal Bank of Canada dropped their target price on shares of Osisko Gold Royalties from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Raymond James reaffirmed an "outperform" rating on shares of Osisko Gold Royalties in a research report on Friday, April 4th. National Bankshares reaffirmed an "outperform" rating on shares of Osisko Gold Royalties in a research report on Wednesday, April 23rd. Finally, Scotiabank raised shares of Osisko Gold Royalties from a "sector perform" rating to a "sector outperform" rating and raised their target price for the stock from $22.00 to $24.00 in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

Osisko Gold Royalties Stock Up 1.1%

NYSE OR traded up $0.28 during trading hours on Wednesday, reaching $25.14. 493,211 shares of the company's stock traded hands, compared to its average volume of 747,598. Osisko Gold Royalties Ltd has a 52-week low of $15.12 and a 52-week high of $25.65. The firm has a market cap of $4.71 billion, a PE ratio of 279.38 and a beta of 0.76. The firm has a 50-day simple moving average of $22.61 and a 200 day simple moving average of $20.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.40 and a quick ratio of 4.40.

Osisko Gold 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 analysts' consensus estimates of $0.13 by $0.03. Osisko Gold Royalties had a net margin of 8.50% and a return on equity of 7.94%. The company had revenue of $54.92 million during the quarter, compared to analysts' expectations of $79.63 million. Sell-side analysts anticipate that Osisko Gold Royalties Ltd will post 0.62 EPS for the current fiscal year.

Osisko Gold Royalties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, June 30th. This is an increase from Osisko Gold Royalties's previous quarterly dividend of $0.05. Osisko Gold Royalties's dividend payout ratio is currently 105.88%.

Osisko Gold 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.