Synergy Asset Management LLC Buys Shares of 14,270 OR Royalties Inc. (NYSE:OR)

Synergy Asset Management LLC bought a new position in OR Royalties Inc. (NYSE:OR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 14,270 shares of the basic materials company's stock, valued at approximately $301,000.

A number of other large investors have also recently made changes to their positions in OR. Intact Investment Management Inc. bought a new position in shares of OR Royalties during the 1st quarter valued at approximately $1,541,000. PFG Investments LLC lifted its position in OR Royalties by 2.5% in the first quarter. PFG Investments LLC now owns 25,409 shares of the basic materials company's stock worth $537,000 after buying an additional 613 shares during the last quarter. Autumn Glory Partners LLC purchased a new position in OR Royalties during the first quarter worth $232,000. Louisbourg Investments Inc. increased its position in OR Royalties by 78.5% during the first quarter. Louisbourg Investments Inc. now owns 279,555 shares of the basic materials company's stock valued at $5,906,000 after acquiring an additional 122,918 shares during the last quarter. Finally, Addenda Capital Inc. increased its position in OR Royalties by 10.3% during the first quarter. Addenda Capital Inc. now owns 42,261 shares of the basic materials company's stock valued at $893,000 after acquiring an additional 3,936 shares during the last quarter. 68.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of OR Royalties from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Raymond James Financial reissued an "outperform" rating on shares of OR Royalties in a research note on Friday, April 4th. Scotiabank upgraded OR Royalties from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the company from $22.00 to $24.00 in a research report on Monday, April 14th. Royal Bank Of Canada cut their target price on OR Royalties from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Finally, National Bankshares reissued an "outperform" rating on shares of OR Royalties in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $23.00.

OR Royalties Trading Up 1.0%

OR stock traded up $0.27 during trading on Thursday, hitting $25.72. The company had a trading volume of 565,191 shares, compared to its average volume of 731,139. OR Royalties Inc. has a 52-week low of $15.40 and a 52-week high of $27.60. The company has a 50 day simple moving average of $24.72 and a 200-day simple moving average of $21.23. The firm has a market capitalization of $4.83 billion, a P/E ratio of 151.26 and a beta of 0.76. 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 earnings results on Wednesday, May 7th. The basic materials company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. OR Royalties had a net margin of 15.28% and a return on equity of 8.66%. The business had revenue of $54.92 million for the quarter, compared to the consensus estimate of $79.63 million. As a group, research analysts forecast that OR Royalties Inc. will post 0.62 earnings per share for the current fiscal year.

OR Royalties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.055 per share. The ex-dividend date is Monday, June 30th. This is a positive change from OR Royalties's previous quarterly dividend of $0.05. This represents a $0.22 dividend on an annualized basis and a yield of 0.86%. OR Royalties's payout ratio is 105.88%.

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.