OR Royalties Inc. $OR Shares Purchased by Canoe Financial LP

Key Points

• Canoe Financial increased its OR Royalties stake by 50.1% in the third quarter, bringing its holdings to 119,692 shares valued at approximately $4.1 million. Institutional investors collectively own 68.52% of the company.
• OR Royalties reported quarterly EPS of $0.32, slightly above analyst expectations, on revenue of $97.82 million. The company also pays a quarterly dividend of $0.065, equivalent to a 0.7% annual yield.
• Analyst sentiment is moderately positive, with a consensus rating of “Moderate Buy” and an average price target of $41, compared with the stock’s recent price of $34.78.

Canoe Financial LP raised its holdings in OR Royalties Inc. (NYSE:OR - Free Report) by 50.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,692 shares of the basic materials company's stock after acquiring an additional 39,960 shares during the quarter. Canoe Financial LP owned 0.06% of OR Royalties worth $4,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in OR. Louisbourg Investments Inc. lifted its stake in OR Royalties by 25.4% during the third quarter. Louisbourg Investments Inc. now owns 212,505 shares of the basic materials company's stock valued at $7,309,000 after purchasing an additional 43,058 shares during the last quarter. Global Strategic Management Inc. grew its position in OR Royalties by 7.0% in the third quarter. Global Strategic Management Inc. now owns 227,946 shares of the basic materials company's stock worth $7,832,000 after buying an additional 14,920 shares during the last quarter. Fortitude Family Office LLC acquired a new position in OR Royalties in the third quarter worth approximately $144,000. Euro Pacific Asset Management LLC grew its position in OR Royalties by 2.3% in the third quarter. Euro Pacific Asset Management LLC now owns 1,053,179 shares of the basic materials company's stock worth $38,931,000 after buying an additional 24,036 shares during the last quarter. Finally, Sax Wealth Advisors LLC acquired a new position in OR Royalties in the third quarter worth approximately $287,000. Institutional investors own 68.52% of the company's stock.

OR Royalties Price Performance

OR opened at $34.78 on Thursday. The stock has a fifty day moving average of $35.58 and a 200-day moving average of $34.97. The firm has a market capitalization of $6.48 billion, a P/E ratio of 27.60 and a beta of 0.78. OR Royalties Inc. has a 12-month low of $27.54 and a 12-month high of $48.06. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.14.

OR Royalties (NYSE:OR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The basic materials company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $97.82 million during the quarter, compared to analysts' expectations of $97.93 million. OR Royalties had a return on equity of 16.41% and a net margin of 78.04%. Equities analysts forecast that OR Royalties Inc. will post 1.26 EPS for the current fiscal year.

OR Royalties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $0.0650 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.7%. OR Royalties's dividend payout ratio is currently 16.67%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OR. Zacks Research raised OR Royalties from a "strong sell" rating to a "hold" rating in a report on Monday, September 14th. Weiss Ratings upgraded OR Royalties from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Jefferies Financial Group dropped their price target on OR Royalties from $40.00 to $34.00 and set a "hold" rating on the stock in a research note on Monday, July 6th. Royal Bank Of Canada boosted their price objective on OR Royalties from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Wednesday, September 16th. Finally, Scotiabank reduced their price objective on shares of OR Royalties from $51.00 to $42.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.00.

OR Royalties Profile

OR Royalties Inc NYSE: OR is a precious and base metals royalty and streaming company. Rather than operating mines directly, the company provides financing to mining companies in exchange for the right to receive a portion of future production or revenue from qualifying mining projects. Its portfolio includes royalties, streams, offtake agreements and other interests tied primarily to gold, silver, copper and other metals.

The company was established in 2014 following the creation of Osisko Gold Royalties from the assets of Osisko Mining Corporation.

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