XTX Topco Ltd Purchases 11,535 Shares of OR Royalties Inc. (NYSE:OR)

Key Points

• XTX Topco Ltd has increased its stake in OR Royalties Inc. by 68.5%, owning 28,365 shares valued at $599,000 as of its latest SEC filing.
• OR Royalties recently declared a quarterly dividend of $0.055, improving from its previous $0.05 dividend, and has a current annualized dividend yield of 0.7%.
• Despite reporting a quarterly earnings per share of $0.16 which surpassed analysts' expectations, the company's revenue of $54.92 million fell short of estimates, indicating potential concerns about revenue growth.

XTX Topco Ltd grew its stake in shares of OR Royalties Inc. (NYSE:OR - Free Report) by 68.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,365 shares of the basic materials company's stock after acquiring an additional 11,535 shares during the quarter. XTX Topco Ltd's holdings in OR Royalties were worth $599,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of OR Royalties during the fourth quarter valued at approximately $60,364,000. Tidal Investments LLC acquired a new stake in OR Royalties during the fourth quarter valued at approximately $34,209,000. Mackenzie Financial Corp lifted its stake in OR Royalties by 52.2% during the first quarter. Mackenzie Financial Corp now owns 5,040,962 shares of the basic materials company's stock worth $106,382,000 after purchasing an additional 1,728,760 shares during the last quarter. FMR LLC lifted its position in shares of OR Royalties by 25.2% in the 4th quarter. FMR LLC now owns 5,613,898 shares of the basic materials company's stock worth $101,659,000 after buying an additional 1,128,969 shares during the last quarter. Finally, Norges Bank acquired a new position in OR Royalties in the fourth quarter valued at approximately $11,683,000. 68.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OR. CIBC reiterated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, July 15th. National Bankshares reissued an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. Wall Street Zen cut OR Royalties from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Scotiabank upped their price target on OR Royalties from $26.00 to $28.00 and gave the stock a "sector outperform" rating in a research note on Monday, July 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $24.33.

OR Royalties Price Performance

Shares of NYSE OR traded up $0.69 during mid-day trading on Thursday, hitting $30.37. 1,027,166 shares of the stock were exchanged, compared to its average volume of 866,292. OR Royalties Inc. has a twelve month low of $15.95 and a twelve month high of $30.39. The stock's fifty day simple moving average is $26.91 and its two-hundred day simple moving average is $23.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.98 and a current ratio of 4.98. The company has a market cap of $5.71 billion, a P/E ratio of 82.09 and a beta of 0.71.

OR Royalties (NYSE:OR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.04). The business had revenue of $60.36 million for 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 8.71%. As a group, analysts forecast that OR Royalties Inc. will post 0.62 EPS for the current fiscal year.

OR Royalties Dividend Announcement

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

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.