OR Royalties (NYSE:OR) Stock Price Down 7.6% - Time to Sell?

Key Points

• OR Royalties' stock price dropped by 7.6%, closing at $37.63, with trading volume increasing by 21% compared to the average.
• Analyst ratings are mixed, with one Strong Buy, five Buy, and five Hold ratings, but the consensus has a price target of $31.75.
• The company announced a quarterly $0.055 dividend to be paid on October 15th, representing an annual yield of 0.6%.

Shares of OR Royalties Inc. (NYSE:OR - Get Free Report) fell 7.6% during mid-day trading on Thursday . The stock traded as low as $37.72 and last traded at $37.63. 1,111,932 shares changed hands during trading, an increase of 21% from the average session volume of 921,130 shares. The stock had previously closed at $40.71.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OR. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of OR Royalties in a research note on Wednesday. Raymond James Financial boosted their price target on OR Royalties from $34.00 to $36.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Jefferies Financial Group reiterated a "hold" rating and set a $40.00 price objective (up from $34.00) on shares of OR Royalties in a report on Monday. National Bankshares reissued an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. Finally, Wall Street Zen raised OR Royalties from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $31.75.

OR Royalties Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 4.73 and a quick ratio of 4.73. The stock's 50-day simple moving average is $34.16 and its 200 day simple moving average is $27.91. The stock has a market capitalization of $7.08 billion, a P/E ratio of 101.62 and a beta of 0.75.

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

OR Royalties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.055 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.22 dividend on an annualized basis and a yield of 0.6%. OR Royalties's dividend payout ratio (DPR) is currently 59.46%.

Institutional Investors Weigh In On OR Royalties

A number of institutional investors have recently added to or reduced their stakes in OR. Versor Investments LP acquired a new position in OR Royalties in the first quarter valued at approximately $840,000. Trexquant Investment LP bought a new position in OR Royalties during the first quarter valued at about $248,000. Hsbc Holdings PLC purchased a new stake in shares of OR Royalties during the 1st quarter worth approximately $208,000. Farther Finance Advisors LLC bought a new stake in shares of OR Royalties in the second quarter valued at $314,000. Finally, Bessemer Group Inc. raised its position in shares of 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 purchasing an additional 33,500 shares during the period. 68.52% of the stock is 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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