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

Key Points

• Mackenzie Financial Corp increased its stake in OR Royalties Inc. by 52.2%, owning 5,040,962 shares worth approximately $106.4 million as of the latest SEC filing.
• Analysts maintain a consensus "Moderate Buy" rating for OR Royalties, with a target price of $24.33, despite mixed ratings from various research firms.
• OR Royalties recently increased its quarterly dividend to $0.055, up from $0.05, reflecting a commitment to returning value to shareholders despite a high payout ratio of 111.76%.

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

A number of other institutional investors also recently modified their holdings of OR. Vanguard Group Inc. increased its holdings in OR Royalties by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 7,208,346 shares of the basic materials company's stock worth $130,529,000 after purchasing an additional 128,099 shares in the last quarter. FMR LLC increased its holdings in OR Royalties by 25.2% in the 4th quarter. FMR LLC now owns 5,613,898 shares of the basic materials company's stock worth $101,659,000 after purchasing an additional 1,128,969 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in OR Royalties by 352.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,099,521 shares of the basic materials company's stock worth $74,160,000 after purchasing an additional 3,194,173 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in OR Royalties in the 4th quarter worth about $60,364,000. Finally, Tidal Investments LLC acquired a new position in OR Royalties in the 4th quarter worth about $34,209,000. Institutional investors and hedge funds own 68.52% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OR shares. National Bankshares reissued an "outperform" rating on shares of OR Royalties in a research note on Tuesday, June 24th. Raymond James Financial reissued an "outperform" rating on shares of OR Royalties in a research note on Friday, April 4th. CIBC reissued an "outperform" rating on shares of OR Royalties in a research note on Tuesday, July 15th. Wall Street Zen cut OR Royalties from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Scotiabank upped their target price on OR Royalties from $26.00 to $28.00 and gave the company a "sector outperform" rating in a research report on Monday, July 7th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.33.

OR Royalties Stock Up 0.1%

OR Royalties stock traded up $0.04 during mid-day trading on Friday, reaching $27.75. The stock had a trading volume of 268,713 shares, compared to its average volume of 856,522. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.98 and a current ratio of 4.98. OR Royalties Inc. has a fifty-two week low of $15.78 and a fifty-two week high of $28.87. The stock's 50-day simple moving average is $26.50 and its 200-day simple moving average is $22.73. The firm has a market capitalization of $5.22 billion, a PE ratio of 163.47 and a beta of 0.75.

OR Royalties (NYSE:OR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. OR Royalties had a return on equity of 8.66% and a net margin of 15.28%. The firm had revenue of $54.92 million during the quarter, compared to analysts' expectations of $79.63 million. On average, sell-side analysts forecast that OR Royalties Inc. will post 0.62 EPS for the current fiscal year.

OR Royalties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.055 per share. The ex-dividend date of this dividend was Monday, June 30th. This is a positive change from OR Royalties's previous quarterly dividend of $0.05. This represents a $0.22 annualized dividend and a dividend yield of 0.8%. OR Royalties's payout ratio is presently 111.76%.

OR Royalties 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.