OR Royalties (NYSE:OR) Shares Down 5.5% - Here's What Happened

OR Royalties Inc. (NYSE:OR - Get Free Report) shares traded down 5.5% on Tuesday . The company traded as low as $25.72 and last traded at $25.76. 515,140 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 856,813 shares. The stock had previously closed at $27.25.

Wall Street Analyst Weigh In

OR has been the subject of a number of research reports. National Bankshares restated an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. Royal Bank Of Canada reduced their target price on OR Royalties from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Raymond James Financial reiterated an "outperform" rating on shares of OR Royalties in a report on Friday, April 4th. Wall Street Zen upgraded OR Royalties from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.33.

OR Royalties Stock Down 5.3%

The company has a debt-to-equity ratio of 0.06, a current ratio of 4.98 and a quick ratio of 4.98. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 151.82 and a beta of 0.75. The firm has a 50 day moving average price of $25.17 and a 200-day moving average price of $21.66.

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

OR Royalties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.055 per share. The ex-dividend date is Monday, June 30th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.85%. This is a positive change from OR Royalties's previous quarterly dividend of $0.05. OR Royalties's dividend payout ratio (DPR) is currently 111.76%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Plato Investment Management Ltd bought a new position in shares of OR Royalties during the first quarter worth about $56,000. Summit Securities Group LLC bought a new position in shares of OR Royalties during the 1st quarter worth approximately $62,000. SBI Securities Co. Ltd. bought a new stake in OR Royalties in the 4th quarter valued at $57,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in OR Royalties in the 4th quarter valued at $72,000. Finally, Northwest & Ethical Investments L.P. raised its holdings in OR Royalties by 11.0% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 6,292 shares of the basic materials company's stock valued at $114,000 after acquiring an additional 626 shares in the last quarter. 68.52% of the stock is currently owned by 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.