OR Royalties Inc. $OR Stake Reduced by Euro Pacific Asset Management LLC

Key Points

• Euro Pacific Asset Management LLC has decreased its stake in OR Royalties Inc. by 0.8%, now holding about 1.08 million shares, which constitutes 4.3% of their portfolio.
• Following a recent earnings report, OR Royalties missed revenue estimates, generating $60.36 million against an expected $83.25 million, and reported earnings of $0.13 per share, below the consensus of $0.17.
• The company announced a quarterly dividend of $0.055 per share, representing an annualized yield of 0.6%, with the dividend payout ratio currently at 59.46%.

Euro Pacific Asset Management LLC decreased its stake in OR Royalties Inc. (NYSE:OR - Free Report) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,079,090 shares of the basic materials company's stock after selling 8,970 shares during the period. OR Royalties makes up 4.3% of Euro Pacific Asset Management LLC's portfolio, making the stock its 8th biggest position. Euro Pacific Asset Management LLC owned 0.57% of OR Royalties worth $26,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. PFG Investments LLC boosted its holdings in OR Royalties by 2.5% in the 1st quarter. PFG Investments LLC now owns 25,409 shares of the basic materials company's stock worth $537,000 after acquiring an additional 613 shares during the period. SeaBridge Investment Advisors LLC boosted its stake in shares of OR Royalties by 14.8% in the first quarter. SeaBridge Investment Advisors LLC now owns 15,500 shares of the basic materials company's stock valued at $327,000 after purchasing an additional 2,000 shares during the period. Plato Investment Management Ltd purchased a new position in shares of OR Royalties in the first quarter valued at $56,000. Summit Securities Group LLC purchased a new position in OR Royalties in the 1st quarter valued at about $62,000. Finally, Synergy Asset Management LLC grew its stake in shares of OR Royalties by 23.5% during the second quarter. Synergy Asset Management LLC now owns 17,617 shares of the basic materials company's stock valued at $453,000 after acquiring an additional 3,347 shares in the last quarter. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on OR shares. CIBC restated an "outperform" rating on shares of OR Royalties in a research note on Tuesday, July 15th. Wall Street Zen raised shares of OR Royalties from a "hold" rating to a "buy" rating in a report on Saturday. Scotiabank boosted 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 report on Monday, July 7th. Raymond James Financial increased their price target on shares of OR Royalties from $34.00 to $36.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Finally, Canaccord Genuity Group lowered OR Royalties from a "strong-buy" rating to a "hold" rating in a report on Thursday. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, OR Royalties currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.00.

OR Royalties Trading Down 0.7%

Shares of NYSE OR opened at $39.41 on Monday. OR Royalties Inc. has a 12-month low of $17.55 and a 12-month high of $41.05. The company has a market cap of $7.42 billion, a price-to-earnings ratio of 106.51 and a beta of 0.75. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 0.03. The stock's 50 day simple moving average is $33.19 and its 200 day simple moving average is $27.47.

OR Royalties (NYSE:OR - Get Free Report) last issued 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). The company had revenue of $60.36 million during the quarter, compared to analyst estimates of $83.25 million. OR Royalties had a return on equity of 8.56% and a net margin of 35.25%. Equities research analysts expect that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Announces Dividend

The company 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 $0.055 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.22 annualized dividend and a yield of 0.6%. OR Royalties's dividend payout ratio (DPR) is currently 59.46%.

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.

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