Federation des caisses Desjardins du Quebec Sells 26,602 Shares of OR Royalties Inc. $OR

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in OR Royalties Inc. by 6.5%, owning approximately 0.21% of the company with a value of around $7.91 million after selling over 26,000 shares.
• OR Royalties reported earnings of $0.13 per share for the last quarter, missing expectations of $0.17 per share, amidst total revenues of $60.36 million, below the anticipated $83.25 million.
• The company declared a dividend of $0.055 per share, with an annualized dividend yield of 0.7%, set to be paid on October 15, reflecting a payout ratio of 51.35%.

Federation des caisses Desjardins du Quebec lessened its holdings in OR Royalties Inc. (NYSE:OR - Free Report) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 384,633 shares of the basic materials company's stock after selling 26,602 shares during the period. Federation des caisses Desjardins du Quebec owned about 0.21% of OR Royalties worth $7,912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OR. Dimensional Fund Advisors LP grew its holdings in OR Royalties by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 872,588 shares of the basic materials company's stock worth $15,794,000 after buying an additional 11,088 shares in the last quarter. Jane Street Group LLC grew its position in shares of OR Royalties by 72.8% in the 4th quarter. Jane Street Group LLC now owns 273,221 shares of the basic materials company's stock worth $4,945,000 after buying an additional 115,081 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of OR Royalties by 629.2% in the 4th quarter. Deutsche Bank AG now owns 79,581 shares of the basic materials company's stock valued at $1,440,000 after purchasing an additional 68,668 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of OR Royalties in the fourth quarter worth $60,364,000. Finally, Polar Asset Management Partners Inc. grew its holdings in shares of OR Royalties by 22.8% in the fourth quarter. Polar Asset Management Partners Inc. now owns 49,461 shares of the basic materials company's stock worth $895,000 after acquiring an additional 9,183 shares during the period. 68.52% of the stock is owned by institutional investors and hedge funds.

OR Royalties Stock Performance

NYSE OR traded up $0.65 during trading hours on Monday, hitting $35.07. The company had a trading volume of 817,613 shares, compared to its average volume of 859,757. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.73 and a current ratio of 4.73. OR Royalties Inc. has a 1-year low of $16.57 and a 1-year high of $35.13. The business has a 50 day moving average of $29.13 and a 200-day moving average of $24.91. The company has a market cap of $6.60 billion, a PE ratio of 94.79 and a beta of 0.72.

OR Royalties (NYSE:OR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.04). OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. The company had revenue of $60.36 million for the quarter, compared to analyst estimates of $83.25 million. As a group, equities research analysts expect that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.055 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.22 annualized dividend and a dividend yield of 0.6%. OR Royalties's dividend payout ratio (DPR) is 51.35%.

Analysts Set New Price Targets

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

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.