OR Royalties Inc. (NYSE:OR) Short Interest Update

Key Points

• OR Royalties Inc. experienced a significant increase in short interest of 54.9% in September, rising from 3,370,000 to 5,220,000 shares, indicating potential bearish sentiment among investors.
• Analysts have mixed opinions on the stock, with one strong buy, four buy, and six hold ratings, while the consensus price target is currently set at $33.00.
• The company has recently declared a quarterly dividend of $0.055 per share, representing an annualized yield of 0.6% and a payout ratio of 59.46%.

OR Royalties Inc. (NYSE:OR - Get Free Report) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totaling 5,220,000 shares, a growth of 54.9% from the September 15th total of 3,370,000 shares. Based on an average trading volume of 1,040,000 shares, the short-interest ratio is presently 5.0 days. Approximately 2.8% of the company's stock are sold short. Approximately 2.8% of the company's stock are sold short. Based on an average trading volume of 1,040,000 shares, the short-interest ratio is presently 5.0 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on OR shares. Canaccord Genuity Group cut shares of OR Royalties from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 2nd. Raymond James Financial reiterated a "market perform" rating and set a $41.00 target price (up previously from $36.00) on shares of OR Royalties in a research report on Friday, October 10th. Jefferies Financial Group reaffirmed a "hold" rating and set a $40.00 target price (up from $34.00) on shares of OR Royalties in a research report on Monday, October 6th. Wall Street Zen upgraded OR Royalties from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. Finally, Zacks Research upgraded OR Royalties from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

Institutional Trading of OR Royalties

Several large investors have recently bought and sold shares of OR. Picton Mahoney Asset Management acquired a new stake in shares of OR Royalties in the 2nd quarter worth $96,617,000. T. Rowe Price Investment Management Inc. grew its stake in shares of OR Royalties by 116.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,790,732 shares of the basic materials company's stock worth $101,181,000 after purchasing an additional 2,574,458 shares in the last quarter. Elliott Investment Management L.P. purchased a new position in OR Royalties during the 1st quarter worth approximately $46,045,000. Mackenzie Financial Corp increased its stake in OR Royalties by 52.2% in the first quarter. Mackenzie Financial Corp now owns 5,040,962 shares of the basic materials company's stock valued at $106,382,000 after purchasing an additional 1,728,760 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in OR Royalties by 43.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,419,246 shares of the basic materials company's stock valued at $139,006,000 after acquiring an additional 1,648,567 shares during the last quarter. Hedge funds and other institutional investors own 68.52% of the company's stock.

OR Royalties Stock Performance

Shares of NYSE:OR traded up $0.56 during trading on Wednesday, hitting $34.65. 1,678,385 shares of the stock traded hands, compared to its average volume of 945,378. The company has a fifty day moving average price of $35.46 and a two-hundred day moving average price of $28.91. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 93.64 and a beta of 0.75. OR Royalties has a 52-week low of $17.55 and a 52-week high of $42.25. The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 0.03.

OR Royalties (NYSE:OR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). OR Royalties had a return on equity of 8.56% and a net margin of 35.25%.The company had revenue of $60.36 million during the quarter, compared to analysts' expectations of $83.25 million. As a group, equities analysts predict that OR Royalties will post 0.62 EPS for the current year.

OR Royalties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.055 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.22 dividend on an annualized basis and a yield of 0.6%. OR Royalties's payout ratio is presently 59.46%.

OR Royalties Company 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.

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