Royal Bank of Canada Lowers Stake in OR Royalties Inc. $OR

Key Points

• Royal Bank of Canada reduced its stake in OR Royalties Inc. by 9.9%, now holding 2,313,886 shares valued at approximately $48.87 million.
• The company reported a quarterly earnings miss with earnings per share of $0.13, falling short of the $0.17 expected, alongside revenues of $60.36 million compared to projections of $83.25 million.
• OR Royalties announced a quarterly dividend of $0.055, translating to an annualized yield of 0.6%, with a payout ratio of 51.35%.

Royal Bank of Canada reduced its position in OR Royalties Inc. (NYSE:OR - Free Report) by 9.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,313,886 shares of the basic materials company's stock after selling 255,556 shares during the period. Royal Bank of Canada owned approximately 1.24% of OR Royalties worth $48,869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new stake in shares of OR Royalties in the first quarter valued at about $62,000. Employees Retirement System of Texas bought a new position in shares of OR Royalties during the 4th quarter worth $131,000. Hsbc Holdings PLC purchased a new position in shares of OR Royalties in the first quarter worth about $208,000. Autumn Glory Partners LLC purchased a new position in OR Royalties in the 1st quarter valued at approximately $232,000. Finally, Trexquant Investment LP bought a new stake in shares of OR Royalties during the 1st quarter valued at $248,000. 68.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

OR Royalties Stock Performance

Shares of NYSE OR traded up $0.65 during midday trading on Monday, hitting $35.07. 851,814 shares of the company's stock traded hands, compared to its average volume of 774,136. The firm has a fifty day moving average of $29.31 and a 200 day moving average of $25.03. OR Royalties Inc. has a 1 year low of $16.57 and a 1 year high of $35.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.73 and a current ratio of 4.73. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 94.79 and a beta of 0.72.

OR Royalties (NYSE:OR - Get Free Report) last posted 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). OR Royalties had a return on equity of 8.56% and a net margin of 35.25%.The business had revenue of $60.36 million during the quarter, compared to the consensus estimate of $83.25 million. On average, analysts forecast that OR Royalties Inc. will post 0.62 earnings per share for the current year.

OR Royalties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 30th. OR Royalties's dividend payout ratio is 51.35%.

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.