MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Holdings in OR Royalties Inc. $OR

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in OR Royalties Inc. by 13.1%, acquiring an additional 435,467 shares and owning approximately 2.02% of the company, valued at around $79.57 million.
• Despite missing earnings estimates in its most recent report, OR Royalties has received favorable ratings from several analysts, with a consensus rating of "Moderate Buy" and an average target price of $24.33.
• OR Royalties announced a quarterly dividend of $0.055 per share, representing an annualized dividend yield of 0.6%, with a payout ratio of 51.35%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of OR Royalties Inc. (NYSE:OR - Free Report) by 13.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,770,679 shares of the basic materials company's stock after acquiring an additional 435,467 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 2.02% of OR Royalties worth $79,566,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. PFG Investments LLC raised its stake in shares of OR Royalties by 2.5% in the 1st quarter. PFG Investments LLC now owns 25,409 shares of the basic materials company's stock valued at $537,000 after acquiring an additional 613 shares during the period. SeaBridge Investment Advisors LLC increased its stake in OR Royalties by 14.8% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 15,500 shares of the basic materials company's stock worth $327,000 after buying an additional 2,000 shares during the period. Summit Securities Group LLC purchased a new stake in OR Royalties during the 1st quarter worth $62,000. Addenda Capital Inc. increased its stake in OR Royalties by 10.3% during the 1st quarter. Addenda Capital Inc. now owns 42,261 shares of the basic materials company's stock worth $893,000 after buying an additional 3,936 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in OR Royalties by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 352,255 shares of the basic materials company's stock worth $7,433,000 after buying an additional 4,212 shares during the period. Institutional investors and hedge funds own 68.52% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Scotiabank lifted their price target 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. Wall Street Zen raised shares of OR Royalties from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. National Bankshares reissued an "outperform" rating on shares of OR Royalties in a research note on Tuesday, June 24th. Finally, CIBC reissued an "outperform" rating on shares of OR Royalties in a research note on Tuesday, July 15th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $24.33.

OR Royalties Stock Up 0.6%

Shares of OR traded up $0.21 during trading hours on Thursday, hitting $35.75. The company had a trading volume of 225,759 shares, compared to its average volume of 858,380. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $6.73 billion, a PE ratio of 96.65 and a beta of 0.72. OR Royalties Inc. has a one year low of $17.14 and a one year high of $35.80. The company's fifty day moving average price is $29.70 and its two-hundred day moving average price is $25.17.

OR Royalties (NYSE:OR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.04). OR Royalties had a return on equity of 8.56% and a net margin of 35.25%.The company had revenue of $60.36 million for the quarter, compared to analysts' expectations of $83.25 million. As a group, equities analysts forecast that OR Royalties Inc. will post 0.62 earnings per share for the current fiscal year.

OR Royalties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.055 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.22 dividend on an annualized basis and a yield of 0.6%. OR Royalties's dividend payout ratio is currently 51.35%.

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.