OR Royalties (NYSE:OR) Reaches New 12-Month High on Analyst Upgrade

Key Points

• OR Royalties Inc. reached a new 52-week high and was upgraded by Raymond James Financial, increasing its price target from $34.00 to $36.00.
• Institutional investors have significantly increased their stakes in OR Royalties, with notable entries including Picton Mahoney Asset Management acquiring a new position valued at approximately $96.6 million.
• The company announced a quarterly dividend of $0.055, translating to an annualized dividend of $0.22, reflecting a yield of 0.6% for investors of record as of September 30.

Shares of OR Royalties Inc. (NYSE:OR - Get Free Report) reached a new 52-week high during trading on Monday after Raymond James Financial raised their price target on the stock from $34.00 to $36.00. Raymond James Financial currently has an outperform rating on the stock. OR Royalties traded as high as $36.75 and last traded at $36.51, with a volume of 422458 shares changing hands. The stock had previously closed at $35.95.

Several other analysts have also issued reports on the stock. National Bankshares restated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. Scotiabank increased their target price 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 report on Tuesday, July 15th. Finally, Wall Street Zen raised shares of OR Royalties from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, OR Royalties currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.25.

Institutional Investors Weigh In On OR Royalties

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG raised its stake in shares of 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 acquiring an additional 68,668 shares during the period. Toronto Dominion Bank grew its position in shares of OR Royalties by 14.7% during the fourth quarter. Toronto Dominion Bank now owns 48,501 shares of the basic materials company's stock worth $877,000 after buying an additional 6,199 shares in the last quarter. Two Sigma Advisers LP grew its position in shares of OR Royalties by 280.7% during the fourth quarter. Two Sigma Advisers LP now owns 104,700 shares of the basic materials company's stock worth $1,895,000 after buying an additional 77,200 shares in the last quarter. Two Sigma Investments LP grew its position in shares of OR Royalties by 78.3% during the fourth quarter. Two Sigma Investments LP now owns 67,407 shares of the basic materials company's stock worth $1,220,000 after buying an additional 29,606 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of OR Royalties by 37.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 578,405 shares of the basic materials company's stock worth $10,469,000 after buying an additional 157,943 shares in the last quarter. 68.52% of the stock is owned by hedge funds and other institutional investors.

OR Royalties Stock Performance

The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 100.45 and a beta of 0.72. The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average price of $30.83 and a 200 day moving average price of $25.89.

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 the consensus estimate of $0.17 by ($0.04). The company had revenue of $60.36 million during 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%. On average, 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. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 30th. OR Royalties's dividend payout ratio is 51.35%.

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.