Osisko Gold Royalties (NYSE:OR) Hits New 1-Year High - Here's What Happened

Shares of Osisko Gold Royalties Ltd (NYSE:OR - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.72 and last traded at $24.55, with a volume of 104411 shares traded. The stock had previously closed at $24.43.

Analyst Ratings Changes

OR has been the subject of several recent analyst reports. Royal Bank of Canada decreased their price target on Osisko Gold Royalties from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Raymond James reiterated an "outperform" rating on shares of Osisko Gold Royalties in a research report on Friday, April 4th. Scotiabank raised shares of Osisko Gold Royalties from a "sector perform" rating to a "sector outperform" rating and raised their target price for the company from $22.00 to $24.00 in a research note on Monday, April 14th. Finally, National Bankshares restated an "outperform" rating on shares of Osisko Gold Royalties in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Osisko Gold Royalties presently has a consensus rating of "Moderate Buy" and an average price target of $23.00.

Osisko Gold Royalties Price Performance

The company has a 50 day moving average of $22.41 and a two-hundred day moving average of $20.18. The firm has a market cap of $4.76 billion, a P/E ratio of 282.56 and a beta of 0.76. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 0.05.

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

Osisko Gold Royalties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.055 dividend. This is a positive change from Osisko Gold Royalties's previous quarterly dividend of $0.05. The ex-dividend date is Monday, June 30th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.87%. Osisko Gold Royalties's dividend payout ratio (DPR) is 105.88%.

Institutional Trading of Osisko Gold Royalties

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Osisko Gold Royalties in the fourth quarter worth approximately $60,364,000. Arrowstreet Capital Limited Partnership boosted its stake in Osisko Gold Royalties by 352.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,099,521 shares of the basic materials company's stock worth $74,160,000 after purchasing an additional 3,194,173 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Osisko Gold 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 purchasing an additional 2,574,458 shares in the last quarter. Elliott Investment Management L.P. purchased a new position in Osisko Gold Royalties during the 1st quarter worth approximately $46,045,000. Finally, Tidal Investments LLC acquired a new stake in Osisko Gold Royalties during the 4th quarter valued at $34,209,000. Institutional investors and hedge funds own 68.52% of the company's stock.

Osisko Gold 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.