EdgePoint Investment Group Inc. Increases Position in OR Royalties Inc. $OR

Key Points

• EdgePoint Investment Group Inc. increased its stake in OR Royalties Inc. by 6.8%, owning approximately 12.84% of the company, valued at around $507 million.
• OR Royalties recently reported earnings of $0.13 per share, falling short of analysts' expectations of $0.17, with revenues of $60.36 million for the quarter.
• The company also announced a quarterly dividend of $0.055, representing an annual yield of 0.7%, with a payout ratio of 51.35%.

EdgePoint Investment Group Inc. boosted its position in OR Royalties Inc. (NYSE:OR - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,020,067 shares of the basic materials company's stock after acquiring an additional 1,534,292 shares during the period. OR Royalties accounts for about 4.1% of EdgePoint Investment Group Inc.'s holdings, making the stock its 13th biggest position. EdgePoint Investment Group Inc. owned approximately 12.84% of OR Royalties worth $507,009,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amundi raised its stake in shares of OR Royalties by 24.6% in the first quarter. Amundi now owns 1,083,434 shares of the basic materials company's stock worth $22,730,000 after purchasing an additional 213,939 shares during the last quarter. Elliott Investment Management L.P. purchased a new stake in shares of OR Royalties during the first quarter valued at approximately $46,045,000. Cubist Systematic Strategies LLC bought a new position in OR Royalties during the first quarter valued at $1,910,000. Trexquant Investment LP bought a new position in OR Royalties during the first quarter valued at $248,000. Finally, OMERS ADMINISTRATION Corp bought a new position in OR Royalties during the first quarter valued at $737,000. Institutional investors own 68.52% of the company's stock.

Analysts Set New Price Targets

OR has been the subject of a number of analyst reports. National Bankshares reaffirmed an "outperform" rating on shares of OR Royalties in a report on Tuesday, June 24th. CIBC reaffirmed an "outperform" rating on shares of OR Royalties in a report on Tuesday, July 15th. Scotiabank raised their price target on OR Royalties from $26.00 to $28.00 and gave the stock a "sector outperform" rating in a report on Monday, July 7th. Finally, Wall Street Zen raised OR Royalties from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, OR Royalties currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.33.

OR Royalties Trading Down 0.9%

Shares of OR traded down $0.32 during trading hours on Tuesday, hitting $34.69. The company had a trading volume of 487,431 shares, compared to its average volume of 858,506. The firm has a market cap of $6.53 billion, a P/E ratio of 93.77 and a beta of 0.72. The stock's 50 day moving average price is $29.31 and its 200 day moving average price is $25.03. The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 0.03. OR Royalties Inc. has a 52-week low of $16.77 and a 52-week high of $35.44.

OR Royalties (NYSE:OR - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). The company had revenue of $60.36 million during the quarter, compared to analysts' expectations of $83.25 million. OR Royalties had a return on equity of 8.56% and a net margin of 35.25%. On average, research analysts predict that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, September 30th. OR Royalties's payout ratio is currently 51.35%.

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.