OR Royalties (NYSE:OR) Reaches New 52-Week High - What's Next?

Key Points

• OR Royalties Inc. reached a new 52-week high, trading at $39.26 before settling at $38.84, with a trading volume of 73,002 shares.
• Research analysts maintain a consensus rating of "Moderate Buy" for OR Royalties, with a recent price target range from $26.00 to $36.00.
• The company will pay a quarterly dividend of $0.055 on October 15th, representing an annual yield of 0.6% based on a payout ratio of 51.35%.

OR Royalties Inc. (NYSE:OR - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $39.26 and last traded at $38.84, with a volume of 73002 shares. The stock had previously closed at $38.42.

Wall Street Analyst Weigh In

OR has been the subject of a number of research reports. Raymond James Financial upped their price objective on shares of OR Royalties from $34.00 to $36.00 and gave the company an "outperform" rating in a research note on Friday, September 12th. CIBC reissued an "outperform" rating on shares of OR Royalties in a research note on Tuesday, July 15th. National Bankshares reaffirmed an "outperform" rating on shares of OR Royalties in a research note on Tuesday, June 24th. Wall Street Zen downgraded OR Royalties from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. Finally, Scotiabank boosted their target price on OR Royalties from $26.00 to $28.00 and gave the company a "sector outperform" rating in a research note on Monday, July 7th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $27.25.

OR Royalties Stock Performance

The business's fifty day simple moving average is $32.03 and its 200-day simple moving average is $26.78. The firm has a market cap of $7.33 billion, a P/E ratio of 105.16 and a beta of 0.72. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 0.03.

OR Royalties (NYSE:OR - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $60.36 million for the quarter, compared to the consensus estimate of $83.25 million. OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. As a group, sell-side analysts expect that OR Royalties Inc. will post 0.62 earnings per share for the current year.

OR Royalties Announces Dividend

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

Hedge Funds Weigh In On OR Royalties

Hedge funds and other institutional investors have recently made changes to their positions in the business. Picton Mahoney Asset Management bought a new stake in OR Royalties during the 2nd quarter valued at approximately $96,617,000. T. Rowe Price Investment Management Inc. lifted its stake 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 valued at $101,181,000 after purchasing an additional 2,574,458 shares during the period. 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. grew its stake 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 worth $139,006,000 after purchasing an additional 1,648,567 shares during the period. Institutional investors own 68.52% of the company's stock.

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.

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