OR Royalties (NYSE:OR) Hits New 52-Week High - Here's What Happened

Key Points

• OR Royalties Inc. reached a new 52-week high of $30.78 during trading, with a last trading price of $30.69.
• A recent earnings report revealed that OR Royalties missed earnings expectations, reporting $0.13 earnings per share compared to the consensus estimate of $0.17.
• The company announced a quarterly dividend of $0.055, with an annualized yield of 0.7%, set to be paid on October 15th.

OR Royalties Inc. (NYSE:OR - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $30.78 and last traded at $30.69, with a volume of 329166 shares trading hands. The stock had previously closed at $30.41.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. National Bankshares reissued an "outperform" rating on shares of OR Royalties in a report on Tuesday, June 24th. CIBC reaffirmed an "outperform" rating on shares of OR Royalties in a report on Tuesday, July 15th. Scotiabank lifted their price objective on OR Royalties from $26.00 to $28.00 and gave the company a "sector outperform" rating in a research note on Monday, July 7th. Finally, Wall Street Zen lowered OR Royalties from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $24.33.

OR Royalties Stock Performance

The firm has a market cap of $5.75 billion, a P/E ratio of 82.57 and a beta of 0.71. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 0.03. The business's fifty day simple moving average is $27.41 and its 200-day simple moving average is $23.58.

OR Royalties (NYSE:OR - Get Free Report) last announced 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 analysts' expectations of $83.25 million. OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. As a group, sell-side analysts expect that OR Royalties Inc. will post 0.62 earnings per share for the current year.

OR Royalties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.055 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.22 annualized dividend and a yield of 0.7%. OR Royalties's dividend payout ratio is currently 51.35%.

Institutional Investors Weigh In On OR Royalties

Hedge funds have recently added to or reduced their stakes in the stock. State of Tennessee Department of Treasury increased its stake in OR Royalties by 12.9% in the 2nd quarter. State of Tennessee Department of Treasury now owns 303,360 shares of the basic materials company's stock worth $7,781,000 after acquiring an additional 34,700 shares during the last quarter. Vident Advisory LLC grew its position in OR Royalties by 2.0% in the second quarter. Vident Advisory LLC now owns 42,349 shares of the basic materials company's stock worth $1,089,000 after acquiring an additional 820 shares in the last quarter. Moore Capital Management LP bought a new stake in OR Royalties during the second quarter worth approximately $3,483,000. Man Group plc lifted its stake in shares of OR Royalties by 26.5% in the 2nd quarter. Man Group plc now owns 155,475 shares of the basic materials company's stock valued at $3,997,000 after purchasing an additional 32,580 shares during the last quarter. Finally, HRT Financial LP purchased a new stake in OR Royalties during the 2nd quarter valued at $2,751,000. 68.52% of the stock is currently 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.