OR Royalties (NYSE:OR) Hits New 12-Month High - Still a Buy?

Key Points

• OR Royalties Inc. has reached a new **52-week high** of $28.88 during trading, closing at $28.86 with a market capitalization of **$5.43 billion**.
• Analysts have mixed ratings on the stock, with **three** holding a "hold" rating and **six** assigning a "buy" rating, while the consensus price target is set at **$24.33**.
• The company recently increased its quarterly dividend from **$0.05** to **$0.055** per share, representing a **0.8% dividend yield**.

OR Royalties Inc. (NYSE:OR - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $28.88 and last traded at $28.86, with a volume of 524557 shares changing hands. The stock had previously closed at $27.94.

Analysts Set New Price Targets

OR has been the topic of several analyst reports. Wall Street Zen downgraded OR Royalties from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. National Bankshares restated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. Scotiabank raised their target price on OR Royalties from $26.00 to $28.00 and gave the company a "sector outperform" rating in a research report on Monday, July 7th. Finally, CIBC restated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, July 15th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, OR Royalties has a consensus rating of "Moderate Buy" and a consensus price target of $24.33.

OR Royalties Trading Up 3.3%

The stock has a market capitalization of $5.43 billion, a PE ratio of 169.74 and a beta of 0.71. The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 0.06. The business's 50-day moving average is $26.55 and its two-hundred day moving average is $22.85.

OR Royalties (NYSE:OR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The basic materials company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. OR Royalties had a net margin of 15.28% and a return on equity of 8.66%. The business had revenue of $54.92 million during the quarter, compared to analysts' expectations of $79.63 million. On average, analysts anticipate that OR Royalties Inc. will post 0.62 earnings per share for the current fiscal year.

OR Royalties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.055 per share. This is a positive change from OR Royalties's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.22 annualized dividend and a dividend yield of 0.8%. OR Royalties's dividend payout ratio is presently 111.76%.

Hedge Funds Weigh In On OR Royalties

Several hedge funds have recently bought and sold shares of the company. Plato Investment Management Ltd acquired a new stake in OR Royalties during the first quarter worth approximately $56,000. Summit Securities Group LLC acquired a new stake in OR Royalties during the first quarter worth approximately $62,000. Employees Retirement System of Texas acquired a new stake in OR Royalties during the fourth quarter worth approximately $131,000. Hsbc Holdings PLC acquired a new stake in OR Royalties during the first quarter worth approximately $208,000. Finally, Franklin Resources Inc. boosted its position in OR Royalties by 4.5% during the fourth quarter. Franklin Resources Inc. now owns 12,282 shares of the basic materials company's stock worth $222,000 after acquiring an additional 534 shares during the last quarter. 68.52% of the stock is owned by hedge funds and other 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.

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