OR Royalties (NYSE:OR) Rating Lowered to Market Perform at Raymond James Financial

Key Points

• Raymond James Financial has downgraded OR Royalties (NYSE:OR) from a "moderate buy" rating to a "hold" rating, indicating a shift in analyst sentiment.
• Despite the downgrade, other financial institutions like Scotiabank and Jefferies have issued positive ratings and increased their target prices, reflecting mixed views on the stock.
• The company's recent earnings report revealed a missed earnings per share (EPS) estimate of $0.13, compared to consensus expectations of $0.17, raising concerns about its financial performance.

OR Royalties (NYSE:OR - Get Free Report) was downgraded by investment analysts at Raymond James Financial from an "outperform" rating to a "market perform" rating in a report released on Thursday, MarketBeat Ratings reports. They currently have a $41.00 price objective on the basic materials company's stock, up from their prior price objective of $36.00. Raymond James Financial's price objective points to a potential upside of 8.96% from the company's current price.

Several other equities research analysts have also issued reports on OR. Wall Street Zen raised shares of OR Royalties from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. National Bankshares reaffirmed an "outperform" rating on shares of OR Royalties in a report on Tuesday, June 24th. Canaccord Genuity Group lowered shares of OR Royalties from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of OR Royalties in a report on Wednesday. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $40.00 price target (up from $34.00) on shares of OR Royalties in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

OR Royalties Trading Up 0.1%

Shares of OR Royalties stock traded up $0.04 during trading hours on Thursday, hitting $37.63. The company's stock had a trading volume of 1,519,346 shares, compared to its average volume of 1,486,944. OR Royalties has a 1-year low of $17.55 and a 1-year high of $42.25. The business has a fifty day moving average of $34.36 and a 200 day moving average of $28.03. The company has a market capitalization of $7.08 billion, a PE ratio of 101.71 and a beta of 0.75. The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 0.03.

OR Royalties (NYSE:OR - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). OR Royalties had a return on equity of 8.56% and a net margin of 35.25%.The business had revenue of $60.36 million during the quarter, compared to analyst estimates of $83.25 million. As a group, equities analysts forecast that OR Royalties will post 0.62 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OR. Picton Mahoney Asset Management bought a new position in OR Royalties during the 2nd quarter valued at $96,617,000. T. Rowe Price Investment Management Inc. boosted its stake in OR 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 valued at $101,181,000 after acquiring an additional 2,574,458 shares during the last quarter. Elliott Investment Management L.P. bought a new position in OR Royalties during the 1st quarter valued at $46,045,000. Mackenzie Financial Corp boosted its stake in OR Royalties by 52.2% during the 1st quarter. Mackenzie Financial Corp now owns 5,040,962 shares of the basic materials company's stock valued at $106,382,000 after acquiring an additional 1,728,760 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of OR Royalties by 43.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,419,246 shares of the basic materials company's stock worth $139,006,000 after buying an additional 1,648,567 shares during 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.