Royal Bank of Canada Sells 255,556 Shares of 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 lowered its stake in OR Royalties Inc. (NYSE:OR - Free Report) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,313,886 shares of the basic materials company's stock after selling 255,556 shares during the quarter. Royal Bank of Canada owned approximately 1.24% of OR Royalties worth $48,869,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of OR. Trexquant Investment LP bought a new position in OR Royalties in the first quarter valued at approximately $248,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of OR Royalties in the 1st quarter valued at approximately $737,000. Keeley Teton Advisors LLC grew its stake in shares of OR Royalties by 20.8% in the first quarter. Keeley Teton Advisors LLC now owns 262,552 shares of the basic materials company's stock valued at $5,545,000 after buying an additional 45,242 shares in the last quarter. Anson Funds Management LP acquired a new position in OR Royalties during the first quarter worth $1,657,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in OR Royalties during the first quarter worth $2,684,000. Institutional investors own 68.52% of the company's stock.

OR Royalties Price Performance

OR stock traded up $0.36 during mid-day trading on Thursday, hitting $35.90. The stock had a trading volume of 624,802 shares, compared to its average volume of 808,984. The firm has a fifty day simple moving average of $29.89 and a 200 day simple moving average of $25.29. The firm has a market capitalization of $6.76 billion, a P/E ratio of 97.02 and a beta of 0.72. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 0.03. OR Royalties Inc. has a 52 week low of $17.14 and a 52 week high of $35.97.

OR Royalties (NYSE:OR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.04). OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. The firm had revenue of $60.36 million during the quarter, compared to the consensus estimate of $83.25 million. As a group, research analysts forecast that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on OR shares. CIBC restated an "outperform" rating on shares of OR Royalties in a research note on Tuesday, July 15th. Scotiabank raised their price target on shares of 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 upgraded shares of OR Royalties from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Finally, National Bankshares restated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.