Scotiabank Issues Positive Forecast for OR Royalties (NYSE:OR) Stock Price

OR Royalties (NYSE:OR - Free Report) had its price objective hoisted by Scotiabank from $26.00 to $28.00 in a report published on Monday morning,Benzinga reports. The firm currently has a sector outperform rating on the basic materials company's stock.

OR has been the subject of several other reports. Wall Street Zen raised shares of OR Royalties from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Royal Bank Of Canada cut their price objective on OR Royalties from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. National Bankshares reissued an "outperform" rating on shares of OR Royalties in a research report on Tuesday, June 24th. Finally, Raymond James Financial reissued an "outperform" rating on shares of OR Royalties in a research report on Friday, April 4th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.33.

OR Royalties Price Performance

NYSE OR traded down $1.44 during trading hours on Monday, reaching $25.81. The company's stock had a trading volume of 1,375,811 shares, compared to its average volume of 740,546. OR Royalties has a fifty-two week low of $15.78 and a fifty-two week high of $27.88. The stock has a market cap of $4.85 billion, a PE ratio of 151.82 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.98 and a current ratio of 4.98. The company's 50-day moving average is $25.13 and its two-hundred day moving average is $21.63.

OR Royalties (NYSE:OR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $54.92 million during the quarter, compared to the consensus estimate of $79.63 million. OR Royalties had a return on equity of 8.66% and a net margin of 15.28%. Analysts forecast that OR Royalties will post 0.62 EPS for the current year.

OR Royalties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.055 per share. The ex-dividend date is Monday, June 30th. This is an increase from OR Royalties's previous quarterly dividend of $0.05. This represents a $0.22 annualized dividend and a dividend yield of 0.85%. OR Royalties's dividend payout ratio (DPR) is currently 111.76%.

Institutional Investors Weigh In On OR Royalties

Hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in shares of OR Royalties in the 4th quarter valued at about $57,000. JPMorgan Chase & Co. lifted its stake in OR Royalties by 20.4% in the fourth quarter. JPMorgan Chase & Co. now owns 20,402 shares of the basic materials company's stock valued at $369,000 after buying an additional 3,455 shares during the last quarter. Vanguard Group Inc. lifted its stake in OR Royalties by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 7,208,346 shares of the basic materials company's stock valued at $130,529,000 after buying an additional 128,099 shares during the last quarter. Bessemer Group Inc. grew its position in shares of OR Royalties by 155.1% during the first quarter. Bessemer Group Inc. now owns 55,100 shares of the basic materials company's stock worth $1,164,000 after acquiring an additional 33,500 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of OR Royalties by 629.2% in the 4th quarter. Deutsche Bank AG now owns 79,581 shares of the basic materials company's stock worth $1,440,000 after acquiring an additional 68,668 shares during the period. Institutional investors and hedge funds own 68.52% of the company's stock.

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.