OR Royalties (NYSE:OR) Sets New 52-Week High - Time to Buy?

Key Points

• OR Royalties Inc. recently reached a new 52-week high of $38.49, closing at $37.69 with a trading volume of over 51,000 shares.
• Several research analysts have given mixed ratings on the stock, with a consensus average rating of "Moderate Buy" and a price target of $27.25.
• The company announced a quarterly dividend of $0.055 per share, set to be paid on October 15th, representing an annualized yield of 0.6%.

OR Royalties Inc. (NYSE:OR - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The stock traded as high as $38.49 and last traded at $37.69, with a volume of 51334 shares changing hands. The stock had previously closed at $37.21.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. National Bankshares restated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. Scotiabank upped their price objective on shares of OR Royalties from $26.00 to $28.00 and gave the company a "sector outperform" rating in a research note on Monday, July 7th. CIBC reiterated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, July 15th. Wall Street Zen lowered shares of OR Royalties from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Raymond James Financial lifted their price objective on OR Royalties from $34.00 to $36.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $27.25.

OR Royalties Trading Down 0.1%

The firm has a market cap of $6.99 billion, a PE ratio of 100.42 and a beta of 0.72. The firm has a fifty day simple moving average of $31.21 and a two-hundred day simple moving average of $26.26. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 0.03.

OR Royalties (NYSE:OR - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations of $83.25 million. OR Royalties had a return on equity of 8.56% and a net margin of 35.25%. Equities analysts forecast that OR Royalties Inc. 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 given a dividend of $0.055 per share. The ex-dividend date is Monday, September 29th. This represents a $0.22 annualized dividend and a dividend yield of 0.6%. OR Royalties's payout ratio is currently 51.35%.

Institutional Investors Weigh In On OR Royalties

Several hedge funds have recently made changes to their positions in OR. Plato Investment Management Ltd purchased a new position in OR Royalties during the first quarter valued at $56,000. Summit Securities Group LLC purchased a new position in OR Royalties during the 1st quarter valued at about $62,000. Employees Retirement System of Texas bought a new stake in OR Royalties during the fourth quarter worth about $131,000. Twin Tree Management LP purchased a new stake in OR Royalties in the second quarter worth about $245,000. Finally, Hsbc Holdings PLC purchased a new stake in OR Royalties in the first quarter worth about $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.