OR Royalties (NYSE:OR) Reaches New 12-Month High - Should You Buy?

OR Royalties Inc. (NYSE:OR - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $28.54 and last traded at $28.47, with a volume of 244989 shares. The stock had previously closed at $27.85.

Analysts Set New Price Targets

OR has been the subject of a number of recent research reports. Raymond James Financial reissued an "outperform" rating on shares of OR Royalties in a research note on Friday, April 4th. Scotiabank lifted their price objective on shares of OR Royalties from $26.00 to $28.00 and gave the stock a "sector outperform" rating in a research note on Monday, July 7th. National Bankshares reissued an "outperform" rating on shares of OR Royalties in a research note on Tuesday, June 24th. CIBC reissued an "outperform" rating on shares of OR Royalties in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada dropped their price objective on shares of OR Royalties from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.33.

OR Royalties Stock Performance

The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 0.06. The business's 50 day moving average is $26.16 and its 200 day moving average is $22.41. The stock has a market capitalization of $5.26 billion, a PE ratio of 164.36 and a beta of 0.75.

OR Royalties (NYSE:OR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. OR Royalties had a net margin of 15.28% and a return on equity of 8.66%. The firm had revenue of $54.92 million during the quarter, compared to analysts' expectations of $79.63 million. On average, equities research analysts predict that OR Royalties Inc. will post 0.62 earnings per share for the current fiscal year.

OR Royalties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 0.79%. This is a boost from OR Royalties's previous quarterly dividend of $0.05. The ex-dividend date was Monday, June 30th. OR Royalties's payout ratio is 111.76%.

Institutional Investors Weigh In On OR Royalties

Several large investors have recently added to or reduced their stakes in OR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in OR Royalties in the 4th quarter valued at about $60,364,000. Arrowstreet Capital Limited Partnership boosted its position in OR Royalties by 352.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,099,521 shares of the basic materials company's stock valued at $74,160,000 after buying an additional 3,194,173 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of OR Royalties by 116.2% in 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. purchased a new stake in shares of OR Royalties in the 1st quarter worth approximately $46,045,000. Finally, Tidal Investments LLC purchased a new stake in shares of OR Royalties in the 4th quarter worth approximately $34,209,000. 68.52% of the stock is owned by hedge funds and other institutional investors.

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.