OR Royalties (NYSE:OR) Cut to Hold at Wall Street Zen

Key Points

• OR Royalties' rating has been downgraded from "buy" to "hold" by Wall Street Zen, indicating a shift in analyst sentiment.
• Raymond James Financial recently increased their target price for OR Royalties from $34.00 to $36.00 and maintained an "outperform" rating.
• OR Royalties reported earnings of $0.13 per share for the last quarter, missing analysts' expectations, and had revenue of $60.36 million, which was below forecasts of $83.25 million.

Wall Street Zen cut shares of OR Royalties (NYSE:OR - Free Report) from a buy rating to a hold rating in a report released on Saturday.

A number of other equities research analysts have also commented on the company. Raymond James Financial upped their price target on OR Royalties from $34.00 to $36.00 and gave the company an "outperform" rating in a research report on Friday, September 12th. National Bankshares reiterated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. Scotiabank upped their price target on OR Royalties from $26.00 to $28.00 and gave the company a "sector outperform" rating in a research report on Monday, July 7th. Finally, CIBC reiterated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, July 15th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, OR Royalties currently has an average rating of "Moderate Buy" and a consensus target price of $27.25.

OR Royalties Price Performance

OR stock traded up $0.29 during midday trading on Friday, reaching $35.74. 964,425 shares of the stock were exchanged, compared to its average volume of 922,942. The stock has a market capitalization of $6.73 billion, a PE ratio of 96.60 and a beta of 0.72. OR Royalties has a 52 week low of $17.55 and a 52 week high of $37.27. 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 company has a fifty 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 issued its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share 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 for the quarter, compared to the consensus estimate of $83.25 million. As a group, analysts expect that OR Royalties will post 0.62 EPS for the current fiscal year.

OR Royalties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 30th. OR Royalties's payout ratio is currently 51.35%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new position in shares of OR Royalties in the 1st quarter valued at about $56,000. Summit Securities Group LLC acquired a new position in OR Royalties during the 1st quarter worth approximately $62,000. Employees Retirement System of Texas acquired a new position in OR Royalties during the 4th quarter worth approximately $131,000. Twin Tree Management LP acquired a new position in OR Royalties during the 2nd quarter worth approximately $245,000. Finally, Hsbc Holdings PLC acquired a new position in OR Royalties during the 1st quarter worth approximately $208,000. 68.52% of the stock is owned by institutional investors and hedge funds.

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.