Osisko Gold Royalties (NYSE:OR) Sets New 12-Month High - Here's What Happened

Osisko Gold Royalties Ltd (NYSE:OR - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $24.72 and last traded at $24.55, with a volume of 104411 shares changing hands. The stock had previously closed at $24.43.

Analyst Ratings Changes

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

Osisko Gold Royalties Price Performance

The stock has a market cap of $4.76 billion, a PE ratio of 282.56 and a beta of 0.76. 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 business has a 50 day moving average price of $22.41 and a two-hundred day moving average price of $20.18.

Osisko Gold Royalties (NYSE:OR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $54.92 million for the quarter, compared to analysts' expectations of $79.63 million. Osisko Gold Royalties had a return on equity of 7.94% and a net margin of 8.50%. Research analysts expect that Osisko Gold Royalties Ltd will post 0.62 earnings per share for the current fiscal 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 dividend of $0.055 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.22 annualized dividend and a yield of 0.87%. This is a positive change from Osisko Gold Royalties's previous quarterly dividend of $0.05. Osisko Gold Royalties's dividend payout ratio is presently 105.88%.

Institutional Trading of Osisko Gold Royalties

Several hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Osisko Gold Royalties during the 4th quarter worth approximately $60,364,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Osisko Gold Royalties by 352.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,099,521 shares of the basic materials company's stock valued at $74,160,000 after buying an additional 3,194,173 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Osisko Gold Royalties by 116.2% in 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 buying an additional 2,574,458 shares during the period. Elliott Investment Management L.P. purchased a new position in Osisko Gold Royalties in the 1st quarter valued at approximately $46,045,000. Finally, Tidal Investments LLC bought a new stake in Osisko Gold Royalties during the 4th quarter valued at $34,209,000. Institutional investors 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.