Northwest & Ethical Investments L.P. Buys 9,349 Shares of OR Royalties Inc. $OR

Key Points

• Northwest & Ethical Investments L.P. increased its stake in OR Royalties Inc. by 148.6% in the first quarter, owning 15,641 shares valued at approximately $330,000.
• OR Royalties reported earnings of $0.13 per share for the last quarter, missing analysts' expectations of $0.17, with revenue falling short at $60.36 million against a forecast of $83.25 million.
• The company announced a quarterly dividend of $0.055, which will be paid on October 15th, reflecting an annualized yield of 0.7% and a payout ratio of 51.35%.

Northwest & Ethical Investments L.P. raised its stake in shares of OR Royalties Inc. (NYSE:OR - Free Report) by 148.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,641 shares of the basic materials company's stock after buying an additional 9,349 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in OR Royalties were worth $330,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of OR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of OR Royalties during the 4th quarter worth about $60,364,000. Tidal Investments LLC acquired a new position in shares of OR Royalties during the 4th quarter worth about $34,209,000. Mackenzie Financial Corp grew its position in shares of OR Royalties by 52.2% during the 1st quarter. Mackenzie Financial Corp now owns 5,040,962 shares of the basic materials company's stock worth $106,382,000 after buying an additional 1,728,760 shares during the period. Alberta Investment Management Corp grew its position in shares of OR Royalties by 717.1% in the 1st quarter. Alberta Investment Management Corp now owns 790,961 shares of the basic materials company's stock valued at $16,690,000 after purchasing an additional 694,161 shares during the period. Finally, Genus Capital Management Inc. grew its position in shares of OR Royalties by 203.3% in the 1st quarter. Genus Capital Management Inc. now owns 105,800 shares of the basic materials company's stock valued at $2,233,000 after purchasing an additional 208,230 shares during the period. 68.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OR has been the subject of several research analyst reports. CIBC reiterated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, July 15th. National Bankshares reiterated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. Wall Street Zen upgraded OR Royalties from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Scotiabank boosted their price objective on OR Royalties from $26.00 to $28.00 and gave the company a "sector outperform" rating in a research report on Monday, July 7th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, OR Royalties has a consensus rating of "Moderate Buy" and an average price target of $24.33.

OR Royalties Stock Up 0.8%

NYSE OR traded up $0.2320 during trading on Friday, hitting $30.8820. The stock had a trading volume of 739,725 shares, compared to its average volume of 798,207. The company has a market capitalization of $5.81 billion, a PE ratio of 83.47 and a beta of 0.71. The company's 50-day moving average price is $27.84 and its two-hundred day moving average price is $23.99. 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 12 month low of $16.50 and a 12 month high of $31.28.

OR Royalties (NYSE:OR - Get Free Report) last released its earnings results 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 firm had revenue of $60.36 million during the quarter, compared to the consensus estimate of $83.25 million. OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. As a group, sell-side analysts forecast that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.055 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.22 annualized dividend and a yield of 0.7%. OR Royalties's payout ratio is presently 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.