OR Royalties Inc. $OR Shares Sold by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments reduced its OR Royalties stake by 20.3% in the third quarter, selling 48,039 shares and retaining 188,675 shares valued at approximately $6.5 million.
• OR Royalties shares fell 0.5% to $34.51, while the company reported quarterly EPS of $0.32, slightly above analyst estimates, on revenue of $97.82 million.
• The company announced a quarterly dividend of $0.065 per share, equivalent to $0.26 annually and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $41.00.

Montrusco Bolton Investments Inc. trimmed its stake in OR Royalties Inc. (NYSE:OR - Free Report) by 20.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 188,675 shares of the basic materials company's stock after selling 48,039 shares during the quarter. Montrusco Bolton Investments Inc. owned approximately 0.10% of OR Royalties worth $6,485,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of OR. Bank of America Corp DE boosted its position in shares of OR Royalties by 37.4% in the 1st quarter. Bank of America Corp DE now owns 1,008,086 shares of the basic materials company's stock valued at $38,327,000 after purchasing an additional 274,486 shares during the period. U S Global Investors Inc. raised its holdings in OR Royalties by 55.8% during the 1st quarter. U S Global Investors Inc. now owns 534,625 shares of the basic materials company's stock worth $20,326,000 after buying an additional 191,380 shares during the period. Bank of New York Mellon Corp acquired a new stake in OR Royalties during the 2nd quarter worth about $1,572,000. Parvin Asset Management LLC acquired a new stake in OR Royalties during the 2nd quarter worth about $2,180,000. Finally, BTG Pactual Asset Management US LLC purchased a new stake in OR Royalties during the second quarter valued at about $930,000. 68.52% of the stock is owned by institutional investors and hedge funds.

OR Royalties Stock Down 0.5%

NYSE:OR traded down $0.17 on Tuesday, hitting $34.51. 785,072 shares of the company's stock traded hands, compared to its average volume of 1,121,696. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.14. OR Royalties Inc. has a 1 year low of $27.54 and a 1 year high of $48.06. The firm has a 50-day moving average price of $35.31 and a 200-day moving average price of $35.07. The company has a market cap of $6.43 billion, a PE ratio of 23.00 and a beta of 0.78.

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

OR Royalties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.0650 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.26 dividend on an annualized basis and a yield of 0.8%. OR Royalties's dividend payout ratio is presently 16.67%.

Wall Street Analyst Weigh In

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

About OR Royalties

OR Royalties Inc is a precious-metals royalty and streaming company headquartered in Montreal, Quebec. The company provides financing to mining companies in exchange for the right to receive a portion of future production or revenue from mining projects, allowing it to gain exposure to mineral production without directly operating mines.

The company's portfolio is primarily focused on gold and includes royalties, streams, offtakes and other interests in a range of development, construction and producing assets.

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