OR Royalties (NYSE:OR) Cut to Hold at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has downgraded OR Royalties from a "strong-buy" to a "hold" rating, reflecting changes in analyst sentiment towards the stock.
• Multiple research firms have adjusted their price targets for OR Royalties, with Scotiabank increasing its target from $26.00 to $28.00, and Raymond James raising it from $34.00 to $36.00.
• OR Royalties reported EPS of $0.13 for the last quarter, missing expectations, and has a current market cap of $7.42 billion.

OR Royalties (NYSE:OR - Get Free Report) was downgraded by Canaccord Genuity Group from a "strong-buy" rating to a "hold" rating in a report released on Thursday,Zacks.com reports.

OR has been the subject of several other research reports. Scotiabank upped their price target on OR Royalties from $26.00 to $28.00 and gave the stock a "sector outperform" rating in a report on Monday, July 7th. Weiss Ratings reiterated a "hold (c+)" rating on shares of OR Royalties in a report on Saturday, September 27th. Raymond James Financial upped their price target on OR Royalties from $34.00 to $36.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. CIBC reiterated an "outperform" rating on shares of OR Royalties in a report on Tuesday, July 15th. Finally, Wall Street Zen upgraded OR Royalties from a "hold" rating to a "buy" rating in a report on Saturday. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, OR Royalties currently has a consensus rating of "Moderate Buy" and an average price target of $29.00.

OR Royalties Trading Down 0.7%

NYSE OR opened at $39.41 on Thursday. The company has a market cap of $7.42 billion, a price-to-earnings ratio of 106.51 and a beta of 0.75. OR Royalties has a 52 week low of $17.55 and a 52 week high of $41.05. The business has a 50 day moving average price of $33.19 and a 200-day moving average price of $27.37. 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 released its quarterly earnings data 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). The firm 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%. As a group, equities analysts expect that OR Royalties will post 0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of OR. Plato Investment Management Ltd purchased a new position in OR Royalties in the first quarter worth $56,000. Summit Securities Group LLC bought a new position in shares of OR Royalties during the 1st quarter worth $62,000. Hsbc Holdings PLC purchased a new stake in OR Royalties in the 1st quarter worth about $208,000. Autumn Glory Partners LLC bought a new stake in OR Royalties in the 1st quarter valued at about $232,000. Finally, Twin Tree Management LP bought a new stake in OR Royalties in the 2nd quarter valued at about $245,000. Hedge funds and other institutional investors own 68.52% of the company's stock.

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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