OR Royalties Inc. $OR Stock Holdings Lifted by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. has significantly increased its holdings in OR Royalties by 116.2%, totaling $101.18 million with over 4.7 million shares owned.
• Analysts have mixed views on OR Royalties, with a price target increase from Scotiabank to $28.00, while other firms have issued hold ratings, leading to an average rating of "Moderate Buy".
• OR Royalties recently announced a quarterly dividend of $0.055 per share, translating to a yield of 0.7%, with the payout ratio currently at 56.76%.

T. Rowe Price Investment Management Inc. lifted its position in shares of OR Royalties Inc. (NYSE:OR - Free Report) by 116.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,790,732 shares of the basic materials company's stock after buying an additional 2,574,458 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 2.56% of OR Royalties worth $101,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC purchased a new position in shares of OR Royalties during the 1st quarter worth approximately $62,000. Employees Retirement System of Texas acquired a new position in OR Royalties in the fourth quarter valued at $131,000. Hsbc Holdings PLC acquired a new position in shares of OR Royalties during the first quarter worth about $208,000. Autumn Glory Partners LLC acquired a new stake in shares of OR Royalties during the 1st quarter valued at approximately $232,000. Finally, Cetera Investment Advisers acquired a new stake in shares of OR Royalties during the 1st quarter valued at approximately $268,000. Institutional investors and hedge funds own 68.52% of the company's stock.

OR Royalties Stock Performance

OR Royalties stock traded down $0.32 during midday trading on Wednesday, reaching $30.76. 182,088 shares of the stock traded hands, compared to its average volume of 851,184. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $28.03 and a two-hundred day moving average price of $24.17. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 83.12 and a beta of 0.71. OR Royalties Inc. has a fifty-two week low of $16.50 and a fifty-two week high of $31.29.

OR Royalties (NYSE:OR - Get Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $83.25 million. On average, equities research analysts forecast that OR Royalties Inc. will post 0.62 earnings per share for the current year.

OR Royalties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 30th. OR Royalties's payout ratio is presently 51.35%.

Analysts Set New Price Targets

OR has been the subject of several research analyst reports. CIBC reaffirmed an "outperform" rating on shares of OR Royalties in a research note on Tuesday, July 15th. Scotiabank upped their price objective on shares of OR Royalties from $26.00 to $28.00 and gave the company a "sector outperform" rating in a research note on Monday, July 7th. National Bankshares reissued an "outperform" rating on shares of OR Royalties in a research note on Tuesday, June 24th. Finally, Wall Street Zen raised shares of OR Royalties from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $24.33.

OR Royalties Company 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.