Royal Bank Of Canada Reaffirms Outperform Rating for OR Royalties (NYSE:OR)

Key Points

• Royal Bank of Canada reaffirmed its Outperform rating on OR Royalties with a $56 price target, implying roughly a 40.8% upside from the prior close.
• Street consensus is a Moderate Buy with an average price target of $46.50; analyst mix includes 1 Strong Buy, 5 Buy and 4 Hold ratings.
• Shares traded at $39.78 (12‑month range $21.93–$48.06) with a $7.46B market cap; OR reported Q4 EPS of $0.32 (beat by $0.01) on $90.47M revenue, and institutions own about 68.5% of the stock.

OR Royalties (NYSE:OR - Get Free Report)'s stock had its "outperform" rating reiterated by research analysts at Royal Bank Of Canada in a research note issued to investors on Friday,Benzinga reports. They presently have a $56.00 price objective on the basic materials company's stock. Royal Bank Of Canada's target price suggests a potential upside of 40.76% from the stock's previous close.

OR has been the topic of a number of other research reports. Zacks Research lowered shares of OR Royalties from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. TD Securities reiterated a "hold" rating on shares of OR Royalties in a research report on Monday, February 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of OR Royalties in a research report on Monday, December 29th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of OR Royalties in a research report on Wednesday, February 4th. Finally, Scotiabank boosted their price target on shares of OR Royalties from $41.00 to $51.00 and gave the stock a "sector perform" rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $46.50.

OR Royalties Stock Performance

Shares of NYSE:OR traded up $0.13 on Friday, hitting $39.78. The company's stock had a trading volume of 109,877 shares, compared to its average volume of 1,451,991. OR Royalties has a 12 month low of $21.93 and a 12 month high of $48.06. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 36.50 and a beta of 0.83. The stock's 50-day moving average is $40.80 and its two-hundred day moving average is $38.09.

OR Royalties (NYSE:OR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.01. OR Royalties had a net margin of 74.30% and a return on equity of 12.41%. The business had revenue of $90.47 million for the quarter, compared to analyst estimates of $90.80 million. Equities analysts expect that OR Royalties will post 0.62 earnings per share for the current fiscal year.

Institutional Trading of OR Royalties

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. purchased a new stake in shares of OR Royalties in the third quarter valued at $2,649,000. CWA Asset Management Group LLC lifted its holdings in shares of OR Royalties by 112.6% in the third quarter. CWA Asset Management Group LLC now owns 381,747 shares of the basic materials company's stock valued at $15,300,000 after purchasing an additional 202,173 shares in the last quarter. Synergy Asset Management LLC lifted its holdings in shares of OR Royalties by 200.0% in the third quarter. Synergy Asset Management LLC now owns 52,851 shares of the basic materials company's stock valued at $2,118,000 after purchasing an additional 35,234 shares in the last quarter. U S Global Investors Inc. lifted its holdings in shares of OR Royalties by 62.0% in the third quarter. U S Global Investors Inc. now owns 931,076 shares of the basic materials company's stock valued at $37,312,000 after purchasing an additional 356,245 shares in the last quarter. Finally, Navellier & Associates Inc. purchased a new stake in shares of OR Royalties in the third quarter valued at $1,451,000. Institutional investors and hedge funds own 68.52% of the company's stock.

OR Royalties Company Profile

OR Royalties PLC NYSE: OR is a closed-ended investment company that specializes in acquiring and managing royalty interests in life science and pharmaceutical products. The company provides capital to biotechnology, specialty pharmaceutical and medical device companies in exchange for a share of future sales revenues. By focusing on royalties secured against marketed products, OR Royalties aims to deliver income and growth potential while minimizing the development and commercialization risks typically associated with direct equity stakes.

The company's core activities include sourcing royalty transactions, structuring bespoke financing solutions and actively monitoring a diversified portfolio of assets.

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