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

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 mid-day trading on Monday . The company traded as high as $34.82 and last traded at $34.78, with a volume of 4789 shares traded. The stock had previously closed at $34.42.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. CIBC reiterated an "outperform" rating on shares of OR Royalties in a report on Tuesday, July 15th. Scotiabank upped their price target 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. 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, National Bankshares reissued an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.33.

OR Royalties Trading Up 1.4%

The stock's 50-day moving average is $29.13 and its two-hundred day moving average is $24.91. The stock has a market cap of $6.57 billion, a P/E ratio of 94.12 and a beta of 0.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.73 and a quick ratio of 4.73.

OR Royalties (NYSE:OR - Get Free Report) last posted its 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 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%. Equities research analysts anticipate 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 issued 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 presently 51.35%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. EdgePoint Investment Group Inc. increased its holdings in shares of OR Royalties by 6.8% in the 1st quarter. EdgePoint Investment Group Inc. now owns 24,020,067 shares of the basic materials company's stock valued at $507,009,000 after acquiring an additional 1,534,292 shares during the period. Vanguard Group Inc. grew its position in OR Royalties by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,251,763 shares of the basic materials company's stock valued at $153,041,000 after buying an additional 43,417 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in OR Royalties by 43.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,419,246 shares of the basic materials company's stock valued at $139,006,000 after buying an additional 1,648,567 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of OR Royalties by 52.2% during the 1st quarter. Mackenzie Financial Corp now owns 5,040,962 shares of the basic materials company's stock worth $106,382,000 after purchasing an additional 1,728,760 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of OR Royalties by 116.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,790,732 shares of the basic materials company's stock worth $101,181,000 after purchasing an additional 2,574,458 shares in the last quarter. Institutional investors and hedge funds own 68.52% of the company's stock.

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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