OR Royalties (NYSE:OR) Reaches New 1-Year High - Time to Buy?

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) hit a new 52-week high on Tuesday . The stock traded as high as $32.98 and last traded at $32.13, with a volume of 46148 shares. The stock had previously closed at $32.16.

Analysts Set New Price Targets

Several brokerages have weighed in on OR. Scotiabank raised their price target on OR Royalties from $26.00 to $28.00 and gave the stock a "sector outperform" rating in a report on Monday, July 7th. Wall Street Zen raised OR Royalties from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. National Bankshares reissued an "outperform" rating on shares of OR Royalties in a report on Tuesday, June 24th. Finally, CIBC reissued an "outperform" rating on shares of OR Royalties in a report on Tuesday, July 15th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, OR Royalties presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.33.

OR Royalties Trading Up 2.3%

The company's fifty day moving average is $29.13 and its two-hundred day moving average is $24.87. 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 company has a market cap of $6.46 billion, a price-to-earnings ratio of 92.72 and a beta of 0.72.

OR Royalties (NYSE:OR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). OR Royalties had a return on equity of 8.56% and a net margin of 35.25%.The business had revenue of $60.36 million during the quarter, compared to analyst estimates of $83.25 million. On average, research analysts anticipate that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Dividend Announcement

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

Hedge Funds Weigh In On OR Royalties

Hedge funds and other institutional investors have recently bought and sold shares of the business. Versor Investments LP acquired a new position in OR Royalties in the 1st quarter worth approximately $840,000. Bessemer Group Inc. lifted its holdings in OR Royalties by 155.1% in the first quarter. Bessemer Group Inc. now owns 55,100 shares of the basic materials company's stock valued at $1,164,000 after acquiring an additional 33,500 shares during the period. Russell Investments Group Ltd. lifted its holdings in OR Royalties by 10.3% in the first quarter. Russell Investments Group Ltd. now owns 174,975 shares of the basic materials company's stock valued at $3,693,000 after acquiring an additional 16,396 shares during the period. Deutsche Bank AG lifted its holdings in OR Royalties by 629.2% in the fourth quarter. Deutsche Bank AG now owns 79,581 shares of the basic materials company's stock valued at $1,440,000 after acquiring an additional 68,668 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in OR Royalties by 78.3% in the fourth quarter. Two Sigma Investments LP now owns 67,407 shares of the basic materials company's stock valued at $1,220,000 after acquiring an additional 29,606 shares during the period. 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.