PCJ Investment Counsel Ltd. Increases Holdings in OR Royalties Inc. (NYSE:OR)

Key Points

• PCJ Investment Counsel Ltd. increased its stake in OR Royalties Inc. by 29.6%, acquiring an additional 45,940 shares, bringing its total ownership to 201,220 shares.
• The company's recent quarterly earnings showed a miss with $0.13 earnings per share, falling short of the consensus estimate of $0.17.
• OR Royalties announced a quarterly dividend of $0.055 per share, which will be paid on October 15th, reflecting an annual yield of 0.7%.

PCJ Investment Counsel Ltd. grew its stake in OR Royalties Inc. (NYSE:OR - Free Report) by 29.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 201,220 shares of the basic materials company's stock after purchasing an additional 45,940 shares during the quarter. OR Royalties makes up about 1.7% of PCJ Investment Counsel Ltd.'s holdings, making the stock its 20th largest position. PCJ Investment Counsel Ltd. owned approximately 0.11% of OR Royalties worth $4,247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in OR Royalties by 20.4% during the fourth quarter. JPMorgan Chase & Co. now owns 20,402 shares of the basic materials company's stock worth $369,000 after acquiring an additional 3,455 shares during the period. Bessemer Group Inc. lifted its holdings in OR Royalties by 155.1% during the first quarter. Bessemer Group Inc. now owns 55,100 shares of the basic materials company's stock worth $1,164,000 after acquiring an additional 33,500 shares during the period. Deutsche Bank AG lifted its holdings in OR Royalties by 629.2% during the fourth quarter. Deutsche Bank AG now owns 79,581 shares of the basic materials company's stock worth $1,440,000 after acquiring an additional 68,668 shares during the period. Two Sigma Investments LP lifted its holdings in OR Royalties by 78.3% during the fourth quarter. Two Sigma Investments LP now owns 67,407 shares of the basic materials company's stock worth $1,220,000 after acquiring an additional 29,606 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in OR Royalties by 32.3% during the first quarter. Bank of New York Mellon Corp now owns 19,138 shares of the basic materials company's stock worth $404,000 after acquiring an additional 4,669 shares during the period. Institutional investors own 68.52% of the company's stock.

Wall Street Analysts Forecast Growth

OR has been the topic of a number of recent analyst reports. CIBC reiterated an "outperform" rating on shares of OR Royalties in a report on Tuesday, July 15th. National Bankshares reissued an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. Wall Street Zen downgraded OR Royalties from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Scotiabank raised their target price on OR Royalties from $26.00 to $28.00 and gave the stock a "sector outperform" rating in a research report on Monday, July 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.33.

OR Royalties Stock Performance

NYSE:OR traded up $0.10 during trading hours on Friday, reaching $30.46. The stock had a trading volume of 924,919 shares, compared to its average volume of 869,408. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.98 and a current ratio of 4.73. The stock has a 50 day simple moving average of $27.01 and a 200 day simple moving average of $23.20. OR Royalties Inc. has a 12-month low of $16.11 and a 12-month high of $30.76. The stock has a market cap of $5.73 billion, a P/E ratio of 82.31 and a beta of 0.71.

OR Royalties (NYSE:OR - Get Free Report) last announced its quarterly 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 analysts' expectations of $83.25 million. OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. On average, research analysts forecast that OR Royalties Inc. will post 0.62 EPS for the current fiscal year.

OR Royalties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend yield of 0.7%. OR Royalties's payout ratio is 51.35%.

OR Royalties Company 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.