OR Royalties (NYSE:OR) Sets New 52-Week High - Here's What Happened

Key Points

• OR Royalties' share price reached a new 52-week high of $32.98 during mid-day trading, reflecting increased investor interest.
• Analysts have generally rated OR Royalties positively, with six analysts issuing a Buy rating and an average price target of $24.33.
• The company recently declared a quarterly dividend of $0.055 per share, with a projected annualized dividend yield of 0.7% and a payout ratio of 51.35%.

OR Royalties Inc. (NYSE:OR - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $32.98 and last traded at $32.13, with a volume of 46148 shares changing hands. The stock had previously closed at $32.16.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wall Street Zen raised OR Royalties from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. National Bankshares reaffirmed an "outperform" rating on shares of OR Royalties in a research note on Tuesday, June 24th. CIBC reaffirmed an "outperform" rating on shares of OR Royalties in a research note on Tuesday, July 15th. Finally, Scotiabank upped their price objective 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 analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.33.

OR Royalties Price Performance

The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 87.96 and a beta of 0.72. The business's 50-day simple moving average is $28.49 and its two-hundred day simple moving average is $24.52. 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 posted its quarterly earnings results on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.04). The business had revenue of $60.36 million for the quarter, compared to the consensus estimate of $83.25 million. OR Royalties had a return on equity of 8.56% and a net margin of 35.25%. As a group, research analysts expect that OR Royalties Inc. will post 0.62 EPS for the current fiscal year.

OR Royalties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 30th. OR Royalties's dividend payout ratio is presently 51.35%.

Hedge Funds Weigh In On OR Royalties

A number of institutional investors and hedge funds have recently modified their holdings of OR. Picton Mahoney Asset Management bought a new position in shares of OR Royalties during the 2nd quarter worth approximately $96,617,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of OR Royalties during the 4th quarter worth approximately $60,364,000. T. Rowe Price Investment Management Inc. boosted 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 buying an additional 2,574,458 shares in the last quarter. Elliott Investment Management L.P. bought a new position in shares of OR Royalties during the 1st quarter worth approximately $46,045,000. Finally, Tidal Investments LLC bought a new position in shares of OR Royalties in the 4th quarter worth $34,209,000. 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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