TD Asset Management Inc Sells 486,333 Shares of OR Royalties Inc. (NYSE:OR)

Key Points

• TD Asset Management Inc sold 486,333 shares of OR Royalties Inc., reducing its stake by 33.1% to about 981,980 shares, valued at approximately $20.7 million.
• Other institutional investors have also made significant changes to their positions in OR Royalties, with Vanguard Group increasing its stake by 1.8%, and Arrowstreet Capital boosting its stake by 352.8%.
• OR Royalties announced a quarterly dividend increase from $0.05 to $0.055 per share, showcasing a positive shift in its dividend policy, despite a high payout ratio of 111.76%.

TD Asset Management Inc lowered its position in shares of OR Royalties Inc. (NYSE:OR - Free Report) by 33.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 981,980 shares of the basic materials company's stock after selling 486,333 shares during the quarter. TD Asset Management Inc owned 0.53% of OR Royalties worth $20,724,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in OR Royalties by 4.5% during the 4th quarter. Franklin Resources Inc. now owns 12,282 shares of the basic materials company's stock valued at $222,000 after buying an additional 534 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in OR Royalties by 2.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 28,781 shares of the basic materials company's stock valued at $521,000 after buying an additional 564 shares in the last quarter. PFG Investments LLC grew its holdings in OR Royalties by 2.5% during the 1st quarter. PFG Investments LLC now owns 25,409 shares of the basic materials company's stock valued at $537,000 after buying an additional 613 shares in the last quarter. Alliancebernstein L.P. grew its holdings in OR Royalties by 4.6% during the 4th quarter. Alliancebernstein L.P. now owns 28,700 shares of the basic materials company's stock valued at $519,000 after buying an additional 1,260 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC grew its holdings in OR Royalties by 14.8% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 15,500 shares of the basic materials company's stock valued at $327,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 68.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OR. Raymond James Financial reaffirmed an "outperform" rating on shares of OR Royalties in a report on Friday, April 4th. National Bankshares reiterated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. Royal Bank Of Canada lowered their target price on OR Royalties from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Scotiabank increased their target price on OR Royalties from $26.00 to $28.00 and gave the company a "sector outperform" rating in a research report on Monday, July 7th. Finally, Wall Street Zen downgraded OR Royalties from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.33.

OR Royalties Trading Up 0.8%

OR traded up $0.22 during trading on Friday, reaching $27.93. The company had a trading volume of 763,459 shares, compared to its average volume of 845,692. The stock has a market cap of $5.26 billion, a P/E ratio of 164.29 and a beta of 0.71. The business has a 50 day simple moving average of $26.55 and a 200-day simple moving average of $22.79. OR Royalties Inc. has a 52 week low of $15.78 and a 52 week high of $28.87. 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 quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. The company had revenue of $54.92 million during the quarter, compared to the consensus estimate of $79.63 million. OR Royalties had a return on equity of 8.66% and a net margin of 15.28%. On average, equities analysts anticipate that OR Royalties Inc. will post 0.62 EPS for the current fiscal year.

OR Royalties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.055 dividend. This is a boost from OR Royalties's previous quarterly dividend of $0.05. This represents a $0.22 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, June 30th. OR Royalties's dividend payout ratio is 111.76%.

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.