Mackenzie Financial Corp Decreases Stake in Osisko Gold Royalties Ltd (NYSE:OR)

Mackenzie Financial Corp lowered its holdings in Osisko Gold Royalties Ltd (NYSE:OR - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Osisko Gold Royalties during the fourth quarter valued at approximately $57,000. CIBC Asset Management Inc increased its position in shares of Osisko Gold Royalties by 21.6% during the fourth quarter. CIBC Asset Management Inc now owns 3,111,398 shares of the basic materials company's stock worth $56,215,000 after purchasing an additional 551,936 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Osisko Gold Royalties by 20.4% during the fourth quarter. JPMorgan Chase & Co. now owns 20,402 shares of the basic materials company's stock worth $369,000 after purchasing an additional 3,455 shares in the last quarter. Vanguard Group Inc. increased its stake in Osisko Gold Royalties by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 7,208,346 shares of the basic materials company's stock valued at $130,529,000 after purchasing an additional 128,099 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Osisko Gold Royalties by 629.2% during the fourth quarter. Deutsche Bank AG now owns 79,581 shares of the basic materials company's stock valued at $1,440,000 after buying an additional 68,668 shares during the last quarter. Institutional investors own 68.52% of the company's stock.

Osisko Gold Royalties Stock Up 0.2%

OR stock traded up $0.05 during midday trading on Friday, hitting $25.28. The company's stock had a trading volume of 395,947 shares, compared to its average volume of 747,097. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 0.05. Osisko Gold Royalties Ltd has a 52-week low of $15.12 and a 52-week high of $25.68. The firm has a market capitalization of $4.73 billion, a P/E ratio of 280.78 and a beta of 0.76. The firm has a 50-day simple moving average of $22.80 and a 200-day simple moving average of $20.33.

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 EPS for the quarter, beating the consensus estimate 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. As a group, equities analysts forecast that Osisko Gold Royalties Ltd will post 0.62 EPS for the current year.

Osisko Gold Royalties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 0.87%. The ex-dividend date is Monday, June 30th. This is a boost from Osisko Gold Royalties's previous quarterly dividend of $0.05. Osisko Gold Royalties's dividend payout ratio (DPR) is currently 105.88%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Scotiabank raised shares of Osisko Gold Royalties from a "sector perform" rating to a "sector outperform" rating and increased their price target for the stock from $22.00 to $24.00 in a report on Monday, April 14th. Royal Bank of Canada reduced 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. National Bankshares restated an "outperform" rating on shares of Osisko Gold Royalties in a report on Wednesday, April 23rd. Finally, Raymond James reiterated an "outperform" rating on shares of Osisko Gold Royalties in a research report on Friday, April 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

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.