Millennium Management LLC Cuts Stock Holdings in Osisko Gold Royalties Ltd (NYSE:OR)

Millennium Management LLC decreased its position in shares of Osisko Gold Royalties Ltd (NYSE:OR - Free Report) by 17.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,328,813 shares of the basic materials company's stock after selling 1,098,830 shares during the quarter. Millennium Management LLC owned approximately 2.85% of Osisko Gold Royalties worth $96,452,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in OR. SBI Securities Co. Ltd. bought a new stake in Osisko Gold Royalties during the fourth quarter valued at about $57,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Osisko Gold Royalties in the 4th quarter valued at about $72,000. Northwest & Ethical Investments L.P. grew its position in shares of Osisko Gold Royalties by 11.0% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 6,292 shares of the basic materials company's stock worth $114,000 after buying an additional 626 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Osisko Gold Royalties by 4.5% during the 4th quarter. Franklin Resources Inc. now owns 12,282 shares of the basic materials company's stock worth $222,000 after acquiring an additional 534 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC purchased a new stake in Osisko Gold Royalties during the fourth quarter valued at approximately $244,000. Institutional investors own 68.52% of the company's stock.

Osisko Gold Royalties Stock Performance

NYSE:OR traded up $0.27 during midday trading on Tuesday, hitting $24.08. The company's stock had a trading volume of 275,991 shares, compared to its average volume of 736,955. Osisko Gold Royalties Ltd has a fifty-two week low of $15.12 and a fifty-two week high of $24.70. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.40 and a quick ratio of 4.40. The firm has a market cap of $4.51 billion, a P/E ratio of 267.84 and a beta of 0.76. The firm's 50 day moving average is $22.00 and its 200-day moving average is $20.05.

Osisko Gold Royalties (NYSE:OR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. Osisko Gold Royalties had a net margin of 8.50% and a return on equity of 7.94%. The firm had revenue of $54.92 million for the quarter, compared to analyst estimates of $79.63 million. Equities analysts anticipate that Osisko Gold Royalties Ltd will post 0.62 earnings per share for the current fiscal year.

Osisko Gold Royalties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.055 dividend. This is an increase from Osisko Gold Royalties's previous quarterly dividend of $0.05. The ex-dividend date is Monday, June 30th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.91%. Osisko Gold Royalties's dividend payout ratio is presently 105.88%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. National Bankshares reaffirmed an "outperform" rating on shares of Osisko Gold Royalties in a report on Wednesday, April 23rd. Raymond James reaffirmed an "outperform" rating on shares of Osisko Gold Royalties in a research report on Friday, April 4th. Scotiabank raised Osisko Gold Royalties from a "sector perform" rating to a "sector outperform" rating and raised their price target for the stock from $22.00 to $24.00 in a report on Monday, April 14th. Finally, Royal Bank of Canada dropped their price target on Osisko Gold Royalties from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

About Osisko Gold 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.