Nuveen LLC Buys New Stake in OR Royalties Inc. $OR

Key Points

• Nuveen LLC has acquired 136,155 shares of OR Royalties Inc. for approximately $2.87 million, representing a 0.07% ownership stake.
• OR Royalties reported earnings of $0.13 per share, missing estimates, with revenue of $60.36 million compared to a forecast of $83.25 million for the recent quarter.
• The company announced a quarterly dividend of $0.055, representing an annualized dividend yield of 0.7%, with an ex-dividend date of September 30th.

Nuveen LLC bought a new position in shares of OR Royalties Inc. (NYSE:OR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 136,155 shares of the basic materials company's stock, valued at approximately $2,873,000. Nuveen LLC owned about 0.07% of OR Royalties at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in OR. Employees Retirement System of Texas acquired a new position in shares of OR Royalties during the 4th quarter worth approximately $131,000. Autumn Glory Partners LLC acquired a new position in OR Royalties in the first quarter valued at approximately $232,000. Cetera Investment Advisers acquired a new position in OR Royalties in the first quarter valued at approximately $268,000. Mariner LLC lifted its holdings in OR Royalties by 36.1% in the fourth quarter. Mariner LLC now owns 15,816 shares of the basic materials company's stock valued at $286,000 after acquiring an additional 4,197 shares during the last quarter. Finally, Synergy Asset Management LLC acquired a new position in OR Royalties in the first quarter valued at approximately $301,000. 68.52% of the stock is currently owned by institutional investors and hedge funds.

OR Royalties Stock Up 2.9%

Shares of OR Royalties stock traded up $0.91 during trading hours on Friday, reaching $32.14. 738,642 shares of the company were exchanged, compared to its average volume of 792,047. OR Royalties Inc. has a 1 year low of $16.50 and a 1 year high of $32.20. The stock's fifty day moving average is $28.36 and its 200 day moving average is $24.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.73 and a current ratio of 4.73. The firm has a market cap of $6.05 billion, a PE ratio of 86.87 and a beta of 0.71.

OR Royalties (NYSE:OR - Get Free Report) last posted 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 research analysts forecast that OR Royalties Inc. will post 0.62 earnings per share for the current year.

OR Royalties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.055 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.7%. OR Royalties's dividend payout ratio is currently 56.76%.

Analyst Ratings Changes

A number of research analysts recently commented on OR shares. CIBC reiterated an "outperform" rating on shares of OR Royalties in a report on Tuesday, July 15th. Wall Street Zen upgraded OR Royalties from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Scotiabank upped their price objective on OR Royalties from $26.00 to $28.00 and gave the company a "sector outperform" rating in a report on Monday, July 7th. Finally, National Bankshares reiterated an "outperform" rating on shares of OR Royalties in a report on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.33.

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.