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

Millennium Management LLC reduced its stake in Osisko Gold Royalties Ltd (NYSE:OR - Free Report) by 17.1% during the 4th quarter, according to the company in its most recent Form 13F 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 period. Millennium Management LLC owned approximately 2.85% of Osisko Gold Royalties worth $96,452,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

OR has been the subject of several analyst reports. Royal Bank of Canada lowered their price target on shares of Osisko Gold Royalties from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Scotiabank raised shares of Osisko Gold Royalties from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the stock from $22.00 to $24.00 in a research report on Monday, April 14th. Raymond James reissued an "outperform" rating on shares of Osisko Gold Royalties in a report on Friday, April 4th. Finally, National Bankshares restated an "outperform" rating on shares of Osisko Gold Royalties in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Osisko Gold Royalties has an average rating of "Moderate Buy" and an average target price of $23.00.

Osisko Gold Royalties Stock Up 0.8%

OR stock traded up $0.19 during midday trading on Friday, reaching $23.31. 1,328,013 shares of the company were exchanged, compared to its average volume of 739,851. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 259.03 and a beta of 0.76. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.40 and a current ratio of 4.40. Osisko Gold Royalties Ltd has a 1-year low of $15.12 and a 1-year high of $24.70. The stock's 50-day simple moving average is $21.90 and its 200 day simple moving average is $20.03.

Osisko Gold Royalties (NYSE:OR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.16 EPS for the quarter, topping the consensus estimate 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. On average, equities analysts forecast that Osisko Gold Royalties Ltd will post 0.62 earnings per share for the current year.

Osisko Gold Royalties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.055 per share. The ex-dividend date is Monday, June 30th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.94%. This is a boost from Osisko Gold Royalties's previous quarterly dividend of $0.05. Osisko Gold Royalties's payout ratio is 105.88%.

Osisko Gold Royalties 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.