OR Royalties (NYSE:OR) Rating Increased to Strong-Buy at Zacks Research

Key Points

• OR Royalties was upgraded from a "hold" rating to a "strong-buy" rating by Zacks Research, signaling positive market sentiment towards the stock.
• Despite this upgrade, several other brokerages have issued varied ratings, including a downgrade by Canaccord Genuity and a "buy" upgrade by Wall Street Zen, reflecting differing opinions on the stock's performance.
• The company's recent earnings report showed missed earnings expectations with a reported EPS of $0.13 compared to a consensus of $0.17, impacting investor outlook.

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

A number of other brokerages also recently issued reports on OR. Canaccord Genuity Group downgraded OR Royalties from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 2nd. Wall Street Zen upgraded OR Royalties from a "hold" rating to a "buy" rating in a research note on Saturday. CIBC reiterated an "outperform" rating on shares of OR Royalties in a research note on Tuesday, July 15th. Raymond James Financial increased their price objective on OR Royalties from $34.00 to $36.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Finally, Scotiabank upped their price target on OR Royalties from $26.00 to $28.00 and gave the stock a "sector outperform" rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $31.75.

OR Royalties Stock Performance

NYSE:OR opened at $40.86 on Monday. The firm has a market capitalization of $7.69 billion, a PE ratio of 110.42 and a beta of 0.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.73 and a current ratio of 4.73. The stock has a 50-day simple moving average of $33.70 and a two-hundred day simple moving average of $27.71. OR Royalties has a 52-week low of $17.55 and a 52-week high of $41.05.

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). 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 during the quarter, compared to analysts' expectations of $83.25 million. Analysts forecast that OR Royalties will post 0.62 EPS for the current year.

Institutional Investors Weigh In On OR Royalties

A number of institutional investors have recently modified their holdings of OR. Picton Mahoney Asset Management acquired a new position in OR Royalties in the 2nd quarter worth approximately $96,617,000. T. Rowe Price Investment Management Inc. increased its holdings 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 during the period. Elliott Investment Management L.P. bought a new position in shares of OR Royalties during the 1st quarter worth about $46,045,000. 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 valued at $106,382,000 after acquiring an additional 1,728,760 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in OR Royalties by 43.7% in 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 buying an additional 1,648,567 shares in the last quarter. Institutional investors and hedge funds own 68.52% of the company's stock.

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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