Mackenzie Financial Corp Raises Stock Holdings in OR Royalties Inc. (NYSE:OR)

Mackenzie Financial Corp lifted its position in shares of OR Royalties Inc. (NYSE:OR - Free Report) by 52.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,040,962 shares of the basic materials company's stock after purchasing an additional 1,728,760 shares during the quarter. Mackenzie Financial Corp owned 2.70% of OR Royalties worth $106,382,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Employees Retirement System of Texas acquired a new stake in OR Royalties in the 4th quarter valued at $131,000. Franklin Resources Inc. grew its stake in OR Royalties by 4.5% in the 4th quarter. Franklin Resources Inc. now owns 12,282 shares of the basic materials company's stock valued at $222,000 after acquiring an additional 534 shares during the period. Autumn Glory Partners LLC acquired a new stake in OR Royalties in the 1st quarter valued at $232,000. Cetera Investment Advisers acquired a new stake in OR Royalties in the 1st quarter valued at $268,000. Finally, Mariner LLC grew its stake in OR Royalties by 36.1% in the 4th 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 period. Institutional investors and hedge funds own 68.52% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on OR. CIBC reissued an "outperform" rating on shares of OR Royalties in a research note on Tuesday, July 15th. Wall Street Zen cut shares of OR Royalties from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Royal Bank Of Canada dropped their price target on shares of OR Royalties from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. National Bankshares reaffirmed an "outperform" rating on shares of OR Royalties in a research note on Tuesday, June 24th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of OR Royalties in a research note on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $24.33.

OR Royalties Price Performance

OR traded up $0.25 on Tuesday, hitting $27.86. 388,842 shares of the company's stock were exchanged, compared to its average volume of 812,837. OR Royalties Inc. has a fifty-two week low of $15.78 and a fifty-two week high of $28.87. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $26.33 and a 200-day moving average price of $22.59. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 163.85 and a beta of 0.75.

OR Royalties (NYSE:OR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. OR Royalties had a return on equity of 8.66% and a net margin of 15.28%. The business had revenue of $54.92 million for the quarter, compared to analyst estimates of $79.63 million. As a group, equities analysts anticipate that OR Royalties Inc. will post 0.62 earnings per share for the current year.

OR Royalties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.055 dividend. This is a positive change from OR Royalties's previous quarterly dividend of $0.05. This represents a $0.22 annualized dividend and a yield of 0.79%. The ex-dividend date was Monday, June 30th. OR Royalties's payout ratio is 111.76%.

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.