Osisko Gold Royalties Ltd (NYSE:OR) Declares Dividend Increase - $0.06 Per Share

Osisko Gold Royalties Ltd (NYSE:OR - Get Free Report) declared a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Investors of record on Monday, June 30th will be paid a dividend of 0.055 per share by the basic materials company on Tuesday, July 15th. This represents a $0.22 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Monday, June 30th. This is a 20.3% increase from Osisko Gold Royalties's previous quarterly dividend of $0.05.

Osisko Gold Royalties has raised its dividend payment by an average of 6.7% per year over the last three years. Osisko Gold Royalties has a payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Osisko Gold Royalties to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 22.5%.

Osisko Gold Royalties Trading Up 0.8%

Osisko Gold Royalties stock traded up $0.19 during midday trading on Friday, reaching $23.31. The stock had a trading volume of 1,328,013 shares, compared to its average volume of 739,851. The stock's 50-day simple moving average is $21.90 and its 200 day simple moving average is $20.03. Osisko Gold Royalties has a twelve month low of $15.12 and a twelve month high of $24.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.40 and a current ratio of 4.40. The stock has a market capitalization of $4.36 billion, a PE ratio of 259.03 and a beta of 0.76.

Osisko Gold Royalties (NYSE:OR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. Osisko Gold Royalties had a return on equity of 7.94% and a net margin of 8.50%. The business had revenue of $54.92 million during the quarter, compared to analysts' expectations of $79.63 million. Analysts expect that Osisko Gold Royalties will post 0.62 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on OR shares. National Bankshares reissued an "outperform" rating on shares of Osisko Gold Royalties in a research note on Wednesday, April 23rd. Royal Bank of Canada reduced their price objective on Osisko Gold Royalties from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Raymond James reaffirmed an "outperform" rating on shares of Osisko Gold Royalties in a research report on Friday, April 4th. Finally, Scotiabank upgraded Osisko Gold Royalties from a "sector perform" rating to a "sector outperform" rating and increased their target price for the company from $22.00 to $24.00 in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $23.00.

Institutional Trading of Osisko Gold Royalties

A hedge fund recently raised its stake in Osisko Gold Royalties stock. Goldman Sachs Group Inc. raised its holdings in shares of Osisko Gold Royalties Ltd (NYSE:OR - Free Report) by 152.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,256,583 shares of the basic materials company's stock after purchasing an additional 758,815 shares during the quarter. Goldman Sachs Group Inc. owned 0.67% of Osisko Gold Royalties worth $26,539,000 at the end of the most recent quarter. Institutional investors own 68.52% of the company's stock.

About Osisko Gold 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.