Montrusco Bolton Investments Inc. Has $10.32 Million Stock Position in OR Royalties Inc. $OR

Key Points

• Montrusco Bolton Investments Inc. reduced its stake in OR Royalties Inc. by 14.6%, now holding 402,231 shares valued at approximately $10.32 million.
• Multiple institutional investors have recently acquired new positions in OR Royalties, with 68.52% of the stock owned by institutional investors and hedge funds.
• OR Royalties reported a missed earnings estimate for the last quarter, with earnings per share at $0.13 compared to a consensus estimate of $0.17.

Montrusco Bolton Investments Inc. reduced its stake in OR Royalties Inc. (NYSE:OR - Free Report) by 14.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 402,231 shares of the basic materials company's stock after selling 68,980 shares during the quarter. Montrusco Bolton Investments Inc. owned about 0.21% of OR Royalties worth $10,317,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in OR. Plato Investment Management Ltd acquired a new position in OR Royalties in the first quarter valued at approximately $56,000. Summit Securities Group LLC acquired a new position in OR Royalties in the first quarter valued at approximately $62,000. Hsbc Holdings PLC acquired a new position in OR Royalties in the first quarter valued at approximately $208,000. Autumn Glory Partners LLC acquired a new position in OR Royalties in the first quarter valued at approximately $232,000. Finally, Trexquant Investment LP acquired a new position in OR Royalties in the first quarter valued at approximately $248,000. 68.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OR has been the topic of several recent analyst reports. Jefferies Financial Group reissued a "hold" rating and issued a $40.00 price target (up from $34.00) on shares of OR Royalties in a research note on Monday, October 6th. Scotiabank boosted their price target on OR Royalties from $26.00 to $28.00 and gave the company a "sector outperform" rating in a research note on Monday, July 7th. Raymond James Financial reissued a "market perform" rating and issued a $41.00 price target (up from $36.00) on shares of OR Royalties in a research note on Friday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of OR Royalties in a research report on Wednesday, October 8th. Finally, Zacks Research raised OR Royalties from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.

OR Royalties Price Performance

Shares of NYSE:OR opened at $37.63 on Monday. The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 0.03. OR Royalties Inc. has a twelve month low of $17.55 and a twelve month high of $42.25. The stock's 50 day moving average is $34.36 and its 200-day moving average is $28.13. The firm has a market capitalization of $7.08 billion, a price-to-earnings ratio of 101.71 and a beta of 0.75.

OR Royalties (NYSE:OR - Get Free Report) last announced its quarterly 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 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 the consensus estimate of $83.25 million. Sell-side analysts forecast that OR Royalties Inc. will post 0.62 EPS for the current fiscal year.

OR Royalties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.055 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.22 annualized dividend and a yield of 0.6%. OR Royalties's dividend payout ratio is 59.46%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.