Short Interest in OR Royalties Inc. (NYSE:OR) Declines By 26.5%

Key Points

• Short interest in OR Royalties Inc. decreased by 26.5% in August, with 2.55 million shares sold short, representing 1.4% of the company's stock.
• The company reported quarterly earnings of $0.13 per share, missing analyst estimates of $0.17, and had revenue of $60.36 million against expectations of $83.25 million.
• OR Royalties announced a quarterly dividend of $0.055 per share, set to be paid on October 15th, with a yield of 0.6% and a payout ratio of 51.35%.

OR Royalties Inc. (NYSE:OR - Get Free Report) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 2,550,000 shares, a drop of 26.5% from the August 15th total of 3,470,000 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 849,500 shares, the short-interest ratio is currently 3.0 days. Based on an average daily trading volume, of 849,500 shares, the short-interest ratio is currently 3.0 days. Currently, 1.4% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. National Bankshares restated an "outperform" rating on shares of OR Royalties in a research note on Tuesday, June 24th. Raymond James Financial boosted their price objective on OR Royalties from $34.00 to $36.00 and gave the company an "outperform" rating in a research report on Friday, September 12th. CIBC restated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, July 15th. Scotiabank boosted their price objective 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, September 13th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $27.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of OR. Plato Investment Management Ltd bought a new position in OR Royalties in the first quarter worth approximately $56,000. Summit Securities Group LLC bought a new position in OR Royalties in the first quarter worth approximately $62,000. Employees Retirement System of Texas bought a new position in OR Royalties in the fourth quarter worth approximately $131,000. Hsbc Holdings PLC bought a new position in OR Royalties in the first quarter worth approximately $208,000. Finally, Autumn Glory Partners LLC bought a new position in OR Royalties in the first quarter worth approximately $232,000. Institutional investors own 68.52% of the company's stock.

OR Royalties Trading Up 4.1%

Shares of OR traded up $1.47 during mid-day trading on Friday, reaching $37.22. 4,001,333 shares of the company's stock traded hands, compared to its average volume of 933,711. The stock has a market cap of $7.00 billion, a P/E ratio of 100.60 and a beta of 0.72. The stock's 50-day moving average is $31.01 and its two-hundred day moving average is $26.07. OR Royalties has a 12 month low of $17.55 and a 12 month high of $37.34. 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 (NYSE:OR - Get Free Report) last released its earnings results on Tuesday, August 5th. The basic materials company reported $0.13 EPS 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 the consensus estimate of $83.25 million. OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. Research analysts forecast that OR Royalties will post 0.62 earnings per share for the current fiscal year.

OR Royalties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid 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 dividend yield of 0.6%. 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.