OR Royalties Inc. (NYSE:OR) Holdings Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in OR Royalties Inc. (NYSE:OR - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of OR Royalties during the fourth quarter valued at about $60,364,000. Arrowstreet Capital Limited Partnership increased its position in shares of OR Royalties by 352.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,099,521 shares of the basic materials company's stock valued at $74,160,000 after acquiring an additional 3,194,173 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of OR Royalties in the fourth quarter valued at approximately $34,209,000. FMR LLC grew its holdings in shares of OR Royalties by 25.2% in the fourth quarter. FMR LLC now owns 5,613,898 shares of the basic materials company's stock valued at $101,659,000 after purchasing an additional 1,128,969 shares in the last quarter. Finally, Norges Bank acquired a new position in OR Royalties during the 4th quarter worth approximately $11,683,000. 68.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on OR shares. Wall Street Zen upgraded shares of OR Royalties from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Scotiabank upped their target price on shares of OR Royalties from $26.00 to $28.00 and gave the company a "sector outperform" rating in a report on Monday. Royal Bank Of Canada lowered their target price on shares of OR Royalties from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Raymond James Financial reiterated an "outperform" rating on shares of OR Royalties in a research report on Friday, April 4th. Finally, National Bankshares reiterated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.33.

OR Royalties Stock Up 4.0%

Shares of OR traded up $1.07 during mid-day trading on Friday, reaching $27.87. 1,847,130 shares of the stock traded hands, compared to its average volume of 747,657. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 163.94 and a beta of 0.75. The stock has a fifty day simple moving average of $25.39 and a 200 day simple moving average of $21.82. OR Royalties Inc. has a 12-month low of $15.78 and a 12-month high of $27.91. The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 0.06.

OR Royalties (NYSE:OR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. The business had revenue of $54.92 million during the quarter, compared to analyst estimates of $79.63 million. OR Royalties had a net margin of 15.28% and a return on equity of 8.66%. Sell-side analysts expect that OR Royalties Inc. will post 0.62 EPS for the current fiscal year.

OR Royalties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Monday, June 30th. This is a positive change from OR Royalties's previous quarterly dividend of $0.05. OR Royalties's payout ratio is 111.76%.

OR Royalties 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.