MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 435,467 Shares of 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. grew its position in OR Royalties Inc. (NYSE:OR - Free Report) by 13.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,770,679 shares of the basic materials company's stock after acquiring an additional 435,467 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 2.02% of OR Royalties worth $79,566,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of OR. Dimensional Fund Advisors LP boosted its holdings in shares of OR Royalties by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 872,588 shares of the basic materials company's stock worth $15,794,000 after buying an additional 11,088 shares during the period. Jane Street Group LLC boosted its holdings in shares of OR Royalties by 72.8% during the 4th quarter. Jane Street Group LLC now owns 273,221 shares of the basic materials company's stock worth $4,945,000 after buying an additional 115,081 shares during the period. Deutsche Bank AG boosted its holdings in shares of OR Royalties by 629.2% during the 4th quarter. Deutsche Bank AG now owns 79,581 shares of the basic materials company's stock worth $1,440,000 after buying an additional 68,668 shares during the period. Polar Asset Management Partners Inc. boosted its holdings in shares of OR Royalties by 22.8% during the 4th quarter. Polar Asset Management Partners Inc. now owns 49,461 shares of the basic materials company's stock worth $895,000 after buying an additional 9,183 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in shares of OR Royalties by 14.7% during the 4th quarter. Toronto Dominion Bank now owns 48,501 shares of the basic materials company's stock worth $877,000 after buying an additional 6,199 shares during the period. Institutional investors own 68.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on OR shares. CIBC reaffirmed an "outperform" rating on shares of OR Royalties in a report on Tuesday, July 15th. National Bankshares reaffirmed an "outperform" rating on shares of OR Royalties in a report on Tuesday, June 24th. Wall Street Zen raised shares of OR Royalties from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Finally, Scotiabank lifted their target price on shares of OR Royalties from $26.00 to $28.00 and gave the stock a "sector outperform" rating in a report on Monday, July 7th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.33.

OR Royalties Price Performance

Shares of OR Royalties stock opened at $34.30 on Friday. OR Royalties Inc. has a twelve month low of $16.50 and a twelve month high of $34.72. The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $29.13 and a two-hundred day simple moving average of $24.84. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 92.72 and a beta of 0.72.

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 the consensus estimate of $0.17 by ($0.04). OR Royalties had a return on equity of 8.56% and a net margin of 35.25%.The business had revenue of $60.36 million during the quarter, compared to analyst estimates of $83.25 million. Analysts forecast that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.055 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.22 annualized dividend and a dividend yield of 0.6%. OR Royalties's payout ratio is presently 51.35%.

OR Royalties Company 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.

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