OR Royalties Inc. (NYSE:OR) Position Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of OR Royalties Inc. (NYSE:OR - Free Report) by 12.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,111,310 shares of the basic materials company's stock after selling 161,400 shares during the period. Principal Financial Group Inc. owned approximately 0.59% of OR Royalties worth $23,450,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Northwest & Ethical Investments L.P. grew its holdings in OR Royalties by 11.0% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,292 shares of the basic materials company's stock worth $114,000 after acquiring an additional 626 shares during the period. Employees Retirement System of Texas acquired a new position in OR Royalties during the fourth quarter worth about $1,306,000. Autumn Glory Partners LLC acquired a new position in OR Royalties during the first quarter worth about $232,000. Franklin Resources Inc. grew its holdings in OR Royalties by 4.5% during the fourth quarter. Franklin Resources Inc. now owns 12,282 shares of the basic materials company's stock worth $222,000 after acquiring an additional 534 shares during the period. Finally, Synergy Asset Management LLC acquired a new position in OR Royalties during the first quarter worth about $301,000. 68.52% of the stock is owned by institutional investors and hedge funds.

OR Royalties Trading Up 4.0%

NYSE OR traded up $1.07 on Friday, hitting $27.87. 1,847,130 shares of the company were exchanged, compared to its average volume of 747,537. The company's 50 day moving average price is $25.39 and its 200-day moving average price is $21.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.98 and a quick ratio of 4.98. The firm has a market capitalization of $5.24 billion, a P/E ratio of 163.94 and a beta of 0.75. OR Royalties Inc. has a twelve month low of $15.78 and a twelve month high of $27.91.

OR Royalties (NYSE:OR - Get Free Report) last released its earnings results on Wednesday, May 7th. The basic materials company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. OR Royalties had a return on equity of 8.66% and a net margin of 15.28%. The company had revenue of $54.92 million for the quarter, compared to analysts' expectations of $79.63 million. Analysts predict that OR Royalties Inc. will post 0.62 earnings per share for the current fiscal year.

OR Royalties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Monday, June 30th. This is a boost from OR Royalties's previous quarterly dividend of $0.05. OR Royalties's payout ratio is 111.76%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. National Bankshares reaffirmed an "outperform" rating on shares of OR Royalties in a report on Tuesday, June 24th. Wall Street Zen cut OR Royalties from a "buy" rating to a "hold" rating in a research note on Saturday. Scotiabank boosted their price objective on OR Royalties from $26.00 to $28.00 and gave the stock a "sector outperform" rating in a report on Monday, July 7th. Raymond James Financial restated an "outperform" rating on shares of OR Royalties in a report on Friday, April 4th. Finally, Royal Bank Of Canada cut their price objective on OR Royalties from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.33.

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.