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 - Get Free Report) had its price target boosted by analysts at Raymond James Financial from $34.00 to $36.00 in a report released on Friday,Benzinga reports. The firm currently has an "outperform" rating on the basic materials company's stock. Raymond James Financial's price objective would suggest a potential upside of 0.28% from the company's previous close.

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

OR Royalties Stock Performance

NYSE:OR opened at $35.90 on Friday. The company has a market capitalization of $6.76 billion, a PE ratio of 97.02 and a beta of 0.72. The company has a 50 day simple moving average of $29.89 and a two-hundred day simple moving average of $25.29. 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 $17.14 and a fifty-two week high of $35.97.

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

Hedge Funds Weigh In On OR Royalties

Large investors have recently modified their holdings of the company. Plato Investment Management Ltd bought a new position in shares of OR Royalties in the 1st quarter worth $56,000. Summit Securities Group LLC bought a new position in shares of OR Royalties in the 1st quarter worth $62,000. Employees Retirement System of Texas bought a new position in shares of OR Royalties in the 4th quarter worth $131,000. Hsbc Holdings PLC bought a new position in shares of OR Royalties in the 1st quarter worth $208,000. Finally, Autumn Glory Partners LLC bought a new position in shares of OR Royalties in the 1st quarter worth $232,000. 68.52% of the stock is currently owned by institutional investors.

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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