OR Royalties Inc. (NYSE:OR) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. has reduced its stake in OR Royalties Inc. by 29.8%, now owning over 2 million shares valued at approximately $42.5 million.
• The company reported earnings of $0.13 per share, missing the consensus estimate, with revenues of $60.36 million compared to expectations of $83.25 million.
• OR Royalties announced a quarterly dividend of $0.055 per share to be paid on October 15, representing a 0.7% dividend yield.

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of OR Royalties Inc. (NYSE:OR - Free Report) by 29.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,013,796 shares of the basic materials company's stock after selling 855,504 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.08% of OR Royalties worth $42,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in OR. JPMorgan Chase & Co. increased its holdings in shares of OR Royalties by 20.4% in the fourth quarter. JPMorgan Chase & Co. now owns 20,402 shares of the basic materials company's stock valued at $369,000 after purchasing an additional 3,455 shares during the period. Alliancebernstein L.P. boosted its holdings in OR Royalties by 4.6% in the fourth quarter. Alliancebernstein L.P. now owns 28,700 shares of the basic materials company's stock valued at $519,000 after purchasing an additional 1,260 shares during the last quarter. Franklin Resources Inc. raised its position in shares of OR Royalties by 4.5% during the 4th quarter. Franklin Resources Inc. now owns 12,282 shares of the basic materials company's stock worth $222,000 after purchasing an additional 534 shares during the period. Geode Capital Management LLC boosted its stake in OR Royalties by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 83,446 shares of the basic materials company's stock valued at $1,528,000 after purchasing an additional 2,981 shares in the last quarter. Finally, ExodusPoint Capital Management LP lifted its holdings in shares of OR Royalties by 34.7% in the fourth quarter. ExodusPoint Capital Management LP now owns 17,428 shares of the basic materials company's stock valued at $315,000 after purchasing an additional 4,487 shares in the last quarter. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

OR Royalties Stock Performance

OR traded up $0.23 during trading on Monday, reaching $30.64. 715,141 shares of the company's stock were exchanged, compared to its average volume of 823,268. The stock has a market capitalization of $5.77 billion, a P/E ratio of 82.81 and a beta of 0.71. OR Royalties Inc. has a 1 year low of $16.49 and a 1 year high of $30.78. The company's fifty day simple moving average is $27.08 and its 200-day simple moving average is $23.31. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.73 and a quick ratio of 4.73.

OR Royalties (NYSE:OR - Get Free Report) last released its earnings results 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 net margin of 35.25% and a return on equity of 8.56%. The firm had revenue of $60.36 million during the quarter, compared to analyst estimates of $83.25 million. As a group, research analysts predict that OR Royalties Inc. will post 0.62 earnings per share for the current fiscal year.

OR Royalties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, September 30th. OR Royalties's dividend payout ratio (DPR) is currently 51.35%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. National Bankshares restated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. Wall Street Zen lowered shares of OR Royalties from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. CIBC restated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, July 15th. 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 research note on Monday, July 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.33.

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.