OR Royalties (NYSE:OR) Rating Increased to Strong-Buy at Canaccord Genuity Group

Key Points

• Analysts at Canaccord Genuity Group upgraded OR Royalties from a "hold" rating to a "strong-buy" rating, indicating increased confidence in the stock's performance.
• The stock currently has an average price target of $36.25 and is rated as a "Moderate Buy" by analysts, with a mix of Strong Buy, Buy, and Hold ratings from other firms.
• In the latest quarterly earnings, OR Royalties reported an EPS of $0.13, falling short of the expected $0.17, highlighting challenges in meeting analyst expectations.

OR Royalties (NYSE:OR - Get Free Report) was upgraded by analysts at Canaccord Genuity Group from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

OR has been the topic of a number of other reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $40.00 price target (up from $34.00) on shares of OR Royalties in a research note on Monday, October 6th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of OR Royalties in a research note on Wednesday, October 8th. National Bankshares reaffirmed an "outperform" rating on shares of OR Royalties in a research note on Tuesday, June 24th. Wall Street Zen upgraded OR Royalties from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. Finally, Scotiabank lowered OR Royalties from an "outperform" rating to a "sector perform" rating and lifted their price objective for the stock from $33.00 to $41.00 in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.25.

OR Royalties Price Performance

Shares of OR Royalties stock opened at $33.66 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.73 and a quick ratio of 4.73. The business's 50 day simple moving average is $35.59 and its two-hundred day simple moving average is $29.04. The stock has a market capitalization of $6.33 billion, a P/E ratio of 90.98 and a beta of 0.75. OR Royalties has a one year low of $17.55 and a one year high of $42.25.

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 analysts' consensus estimates 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 return on equity of 8.56% and a net margin of 35.25%. Analysts forecast that OR Royalties will post 0.62 EPS for the current year.

Institutional Investors Weigh In On OR Royalties

Several hedge funds have recently made changes to their positions in OR. Picton Mahoney Asset Management bought a new stake in shares of OR Royalties during the second quarter valued at approximately $96,617,000. T. Rowe Price Investment Management Inc. boosted its position in shares of 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 valued at $101,181,000 after purchasing an additional 2,574,458 shares in the last quarter. Elliott Investment Management L.P. bought a new stake in shares of OR Royalties during the first quarter valued at approximately $46,045,000. Mackenzie Financial Corp boosted its position in shares of 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 valued at $106,382,000 after purchasing an additional 1,728,760 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of OR Royalties by 43.7% during the second 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 purchasing an additional 1,648,567 shares in the last quarter. 68.52% of the stock is currently owned by 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.

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