OR Royalties (NYSE:OR) Price Target Raised to $28.00

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

Several other research firms also recently issued reports on OR. Royal Bank Of Canada decreased their price objective on shares of OR Royalties from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Wall Street Zen raised shares of OR Royalties from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. National Bankshares reiterated an "outperform" rating on shares of OR Royalties in a report on Tuesday, June 24th. Finally, Raymond James Financial restated an "outperform" rating on shares of OR Royalties in a report on Friday, April 4th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, OR Royalties currently has a consensus rating of "Moderate Buy" and an average price target of $24.33.

OR Royalties Stock Up 0.6%

Shares of NYSE:OR traded up $0.17 during mid-day trading on Monday, hitting $26.79. 740,523 shares of the company traded hands, compared to its average volume of 744,334. The firm has a market cap of $5.03 billion, a P/E ratio of 157.59 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. OR Royalties has a 52-week low of $15.78 and a 52-week high of $27.60. The firm's 50 day simple moving average is $25.23 and its 200 day simple moving average is $21.70.

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

OR Royalties Increases Dividend

The firm 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. This represents a $0.22 dividend on an annualized basis and a yield of 0.82%. This is a positive change from OR Royalties's previous quarterly dividend of $0.05. The ex-dividend date is Monday, June 30th. OR Royalties's dividend payout ratio (DPR) is currently 111.76%.

Hedge Funds Weigh In On OR Royalties

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