Price T Rowe Associates Inc. MD Has $76.38 Million Stake in OR Royalties Inc. $OR

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in OR Royalties Inc. by 48.6% during the first quarter, selling over 3.4 million shares and retaining approximately 3.6 million shares in total.
• Multiple large investors have also adjusted their positions in OR Royalties, with JPMorgan Chase & Co. increasing its shareholding by 20.4%, adding to a trend of institutional investment in the company.
• OR Royalties reported earnings per share (EPS) of $0.13 for the latest quarter, falling short of analyst expectations, while the company also announced a quarterly dividend of $0.055 per share.

Price T Rowe Associates Inc. MD decreased its stake in OR Royalties Inc. (NYSE:OR - Free Report) by 48.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,616,201 shares of the basic materials company's stock after selling 3,419,231 shares during the period. Price T Rowe Associates Inc. MD owned 1.93% of OR Royalties worth $76,375,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. grew its holdings in shares of OR Royalties by 116.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,790,732 shares of the basic materials company's stock valued at $101,181,000 after acquiring an additional 2,574,458 shares in the last quarter. Hsbc Holdings PLC bought a new position in OR Royalties during the first quarter worth about $208,000. Quantbot Technologies LP bought a new position in OR Royalties during the first quarter worth about $2,662,000. Versor Investments LP bought a new position in OR Royalties during the first quarter worth about $840,000. Finally, Summit Securities Group LLC bought a new position in OR Royalties during the first quarter worth about $62,000. Institutional investors own 68.52% of the company's stock.

OR Royalties Stock Performance

OR stock traded up $0.91 during mid-day trading on Friday, hitting $32.14. 738,642 shares of the company were exchanged, compared to its average volume of 790,853. The business has a 50 day simple moving average of $28.36 and a 200-day simple moving average of $24.44. 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 has a market capitalization of $6.05 billion, a PE ratio of 86.87 and a beta of 0.72. OR Royalties Inc. has a 1-year low of $16.50 and a 1-year high of $32.20.

OR Royalties (NYSE:OR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). The company had revenue of $60.36 million for 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%. On average, equities analysts forecast that OR Royalties Inc. will post 0.62 earnings per share for the current year.

OR Royalties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.055 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.22 annualized dividend and a yield of 0.7%. OR Royalties's dividend payout ratio (DPR) is 51.35%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OR shares. Wall Street Zen upgraded OR Royalties from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Scotiabank lifted their price target on OR Royalties from $26.00 to $28.00 and gave the stock a "sector outperform" rating in a report on Monday, July 7th. CIBC reiterated an "outperform" rating on shares of OR Royalties in a report on Tuesday, July 15th. Finally, National Bankshares reiterated an "outperform" rating on shares of OR Royalties in a report on Tuesday, June 24th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, OR Royalties currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.33.

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.