OR Royalties (NYSE:OR) Reaches New 1-Year High - Here's What Happened

Key Points

• OR Royalties Inc. (NYSE:OR) recently reached a new 52-week high of $34.82, with a current trading price of $34.78 and a market cap of $6.57 billion.
• Analysts have upgraded the stock's rating, with CIBC maintaining an "outperform" rating, and Scotiabank raising its price target from $26.00 to $28.00, contributing to a consensus rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.055, representing a 0.6% yield, which will be paid on October 15th for shareholders on record as of September 30th.

OR Royalties Inc. (NYSE:OR - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The company traded as high as $34.82 and last traded at $34.78, with a volume of 4789 shares. The stock had previously closed at $34.42.

Wall Street Analyst Weigh In

OR has been the subject of a number of recent research reports. Scotiabank lifted their price objective on shares of OR Royalties from $26.00 to $28.00 and gave the stock a "sector outperform" rating in a research note on Monday, July 7th. National Bankshares reissued an "outperform" rating on shares of OR Royalties in a research note on Tuesday, June 24th. Raymond James Financial lifted their price objective on shares of OR Royalties from $34.00 to $36.00 and gave the stock an "outperform" rating in a research note on Friday. Wall Street Zen cut shares of OR Royalties from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, CIBC reissued an "outperform" rating on shares of OR Royalties in a research note on Tuesday, July 15th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $27.25.

OR Royalties Stock Performance

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 50 day moving average is $30.09 and its 200 day moving average is $25.41. The stock has a market capitalization of $6.77 billion, a PE ratio of 97.19 and a beta of 0.72.

OR Royalties (NYSE:OR - Get Free Report) last released 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). OR Royalties had a return on equity of 8.56% and a net margin of 35.25%.The firm had revenue of $60.36 million for the quarter, compared to analysts' expectations of $83.25 million. On average, equities research analysts predict that OR Royalties Inc. will post 0.62 earnings per share for the current fiscal year.

OR Royalties Announces Dividend

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

Institutional Investors Weigh In On OR Royalties

Large investors have recently added to or reduced their stakes in the stock. Versor Investments LP purchased a new stake in OR Royalties in the 1st quarter valued at about $840,000. Hsbc Holdings PLC purchased a new stake in OR Royalties in the 1st quarter valued at about $208,000. Bessemer Group Inc. boosted its position in OR Royalties by 155.1% in the 1st quarter. Bessemer Group Inc. now owns 55,100 shares of the basic materials company's stock valued at $1,164,000 after buying an additional 33,500 shares during the period. Russell Investments Group Ltd. boosted its position in OR Royalties by 10.3% in the 1st quarter. Russell Investments Group Ltd. now owns 174,975 shares of the basic materials company's stock valued at $3,693,000 after buying an additional 16,396 shares during the period. Finally, Deutsche Bank AG boosted its position in OR Royalties by 629.2% in the 4th quarter. Deutsche Bank AG now owns 79,581 shares of the basic materials company's stock valued at $1,440,000 after buying an additional 68,668 shares during the period. 68.52% of the stock is owned by hedge funds and other 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.