OR Royalties (NYSE:OR) Hits New 52-Week High After 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.

OR Royalties Inc. (NYSE:OR - Get Free Report) hit a new 52-week high during mid-day 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 traded. The stock had previously closed at $35.95.

Several other research firms also recently commented on OR. Wall Street Zen raised OR Royalties from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. CIBC restated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, July 15th. Scotiabank raised their price target on OR Royalties from $26.00 to $28.00 and gave the stock a "sector outperform" rating in a research report on Monday, July 7th. Finally, National Bankshares restated 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, OR Royalties has an average rating of "Moderate Buy" and an average target price of $27.25.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OR. Picton Mahoney Asset Management acquired a new position in OR Royalties in the second quarter valued at approximately $96,617,000. T. Rowe Price Investment Management Inc. lifted its stake in OR Royalties by 116.2% during the first 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. Elliott Investment Management L.P. acquired a new position in OR Royalties during the first quarter worth $46,045,000. Tidal Investments LLC acquired a new position in OR Royalties during the fourth quarter worth $34,209,000. Finally, Mackenzie Financial Corp lifted its stake in OR Royalties by 52.2% during the first 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. 68.52% of the stock is currently owned by institutional investors and hedge funds.

OR Royalties Stock Up 2.2%

The business has a 50-day moving average price of $30.09 and a two-hundred day moving average price of $25.51. 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 firm has a market cap of $6.92 billion, a PE ratio of 99.21 and a beta of 0.72.

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 the consensus estimate of $0.17 by ($0.04). The business 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, equities research analysts expect that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Dividend Announcement

The firm also recently announced 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 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.

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