TD Asset Management Inc Raises Stake in OR Royalties Inc. $OR

Key Points

• TD Asset Management Inc increased its stake in OR Royalties Inc. by 12.4% in the second quarter, owning approximately 1.1 million shares valued at $28.3 million.
• Multiple institutional investors have made significant investments in OR Royalties recently, leading to hedge funds and other institutions owning 68.52% of the company's stock.
• Analysts have mixed opinions on OR Royalties, with ratings ranging from "strong buy" to "hold," and a consensus target price of $33.00.

TD Asset Management Inc boosted its stake in OR Royalties Inc. (NYSE:OR - Free Report) by 12.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,103,356 shares of the basic materials company's stock after purchasing an additional 121,376 shares during the quarter. TD Asset Management Inc owned about 0.59% of OR Royalties worth $28,317,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Versor Investments LP purchased a new stake in OR Royalties in the first quarter valued at approximately $840,000. Trexquant Investment LP purchased a new stake in OR Royalties in the first quarter valued at approximately $248,000. Hsbc Holdings PLC purchased a new stake in OR Royalties in the first quarter valued at approximately $208,000. Farther Finance Advisors LLC purchased a new stake in OR Royalties in the second quarter valued at approximately $314,000. Finally, Bessemer Group Inc. grew its holdings in OR Royalties by 155.1% in the first quarter. Bessemer Group Inc. now owns 55,100 shares of the basic materials company's stock valued at $1,164,000 after purchasing an additional 33,500 shares during the period. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OR has been the subject of several research reports. Wall Street Zen upgraded shares of OR Royalties from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Weiss Ratings reiterated a "hold (c+)" rating on shares of OR Royalties in a research note on Wednesday, October 8th. Zacks Research upgraded shares of OR Royalties from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. Raymond James Financial reiterated a "market perform" rating and set a $41.00 price objective (up from $36.00) on shares of OR Royalties in a research note on Friday, October 10th. Finally, CIBC reissued an "outperform" rating on shares of OR Royalties in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, OR Royalties has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.

OR Royalties Trading Up 3.6%

OR opened at $40.04 on Friday. The stock has a market capitalization of $7.53 billion, a PE ratio of 108.22 and a beta of 0.75. The firm's fifty day moving average price is $35.11 and its 200 day moving average price is $28.52. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.73 and a quick ratio of 4.73. OR Royalties Inc. has a 12-month low of $17.55 and a 12-month high of $42.25.

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 (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). The company had revenue of $60.36 million during the quarter, compared to analyst estimates of $83.25 million. OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. As a group, research analysts expect that OR Royalties Inc. will post 0.62 EPS for the current fiscal year.

OR Royalties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.055 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.22 annualized dividend and a yield of 0.5%. OR Royalties's dividend payout ratio is currently 59.46%.

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.

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