OR Royalties (NYSE:OR) Given New $36.00 Price Target at Raymond James Financial

Key Points

• Raymond James Financial has increased its price target for OR Royalties from $34.00 to $36.00 and maintains an "outperform" rating.
• OR Royalties reported a quarterly earnings per share of $0.13, missing estimates of $0.17, with revenues of $60.36 million against expected $83.25 million.
• Analysts have a consensus rating of "Moderate Buy" for OR Royalties, with a price target averaging $27.25.

OR Royalties (NYSE:OR - Free Report) had its target price lifted by Raymond James Financial from $34.00 to $36.00 in a research note released on Friday, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the basic materials company's stock.

A number of other equities analysts have also commented on OR. Wall Street Zen raised shares of OR Royalties from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Scotiabank raised their price target on shares of OR Royalties from $26.00 to $28.00 and gave the company a "sector outperform" rating in a report on Monday, July 7th. National Bankshares reiterated an "outperform" rating on shares of OR Royalties in a report on Tuesday, June 24th. Finally, CIBC restated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, July 15th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.25.

OR Royalties Stock Up 1.8%

Shares of OR Royalties stock traded up $0.63 during trading on Friday, reaching $35.79. The company had a trading volume of 411,666 shares, compared to its average volume of 868,144. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 96.49 and a beta of 0.72. The firm's fifty day moving average is $30.47 and its 200-day moving average is $25.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.73 and a current ratio of 4.73. OR Royalties has a fifty-two week low of $17.55 and a fifty-two week high of $37.27.

OR Royalties (NYSE:OR - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). The business had revenue of $60.36 million for the quarter, compared to analyst estimates of $83.25 million. OR Royalties had a return on equity of 8.56% and a net margin of 35.25%. On average, analysts anticipate that OR Royalties will post 0.62 EPS for the current year.

OR Royalties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 30th. OR Royalties's payout ratio is 51.35%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Plato Investment Management Ltd purchased a new stake in shares of OR Royalties during the first quarter valued at approximately $56,000. Summit Securities Group LLC purchased a new position in OR Royalties in the 1st quarter worth about $62,000. Employees Retirement System of Texas purchased a new position in OR Royalties in the 4th quarter worth about $131,000. Twin Tree Management LP bought a new stake in shares of OR Royalties during the 2nd quarter valued at about $245,000. Finally, Hsbc Holdings PLC bought a new position in shares of OR Royalties during the 1st quarter valued at approximately $208,000. 68.52% of the stock is currently owned by institutional investors.

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.