State of Tennessee Department of Treasury Reduces Position in Osisko Gold Royalties Ltd (NYSE:OR)

State of Tennessee Department of Treasury trimmed its position in shares of Osisko Gold Royalties Ltd (NYSE:OR - Free Report) by 57.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,080 shares of the basic materials company's stock after selling 283,800 shares during the quarter. State of Tennessee Department of Treasury owned approximately 0.11% of Osisko Gold Royalties worth $3,748,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of Osisko Gold Royalties during the 4th quarter worth about $57,000. CIBC Asset Management Inc raised its position in shares of Osisko Gold Royalties by 21.6% during the 4th quarter. CIBC Asset Management Inc now owns 3,111,398 shares of the basic materials company's stock worth $56,215,000 after purchasing an additional 551,936 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Osisko Gold Royalties by 5.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,527,110 shares of the basic materials company's stock worth $28,316,000 after purchasing an additional 82,150 shares in the last quarter. Vanguard Group Inc. lifted its stake in Osisko Gold Royalties by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 7,208,346 shares of the basic materials company's stock worth $130,529,000 after purchasing an additional 128,099 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Osisko Gold Royalties by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 80,465 shares of the basic materials company's stock worth $1,498,000 after purchasing an additional 6,251 shares in the last quarter. 68.52% of the stock is owned by hedge funds and other institutional investors.

Osisko Gold Royalties Stock Performance

Osisko Gold Royalties stock traded down $0.57 during mid-day trading on Thursday, reaching $23.46. 877,966 shares of the company were exchanged, compared to its average volume of 856,373. Osisko Gold Royalties Ltd has a twelve month low of $15.12 and a twelve month high of $24.18. The firm's 50-day simple moving average is $20.70 and its two-hundred day simple moving average is $19.79. 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 firm has a market cap of $4.39 billion, a PE ratio of 260.71 and a beta of 0.88.

Osisko Gold Royalties (NYSE:OR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Osisko Gold Royalties had a return on equity of 7.94% and a net margin of 8.50%. The company had revenue of $56.74 million during the quarter, compared to analysts' expectations of $68.31 million. Equities analysts predict that Osisko Gold Royalties Ltd will post 0.62 earnings per share for the current fiscal year.

Osisko Gold Royalties Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.0457 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.18 annualized dividend and a dividend yield of 0.78%. Osisko Gold Royalties's dividend payout ratio is currently 200.00%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. National Bankshares reaffirmed an "outperform" rating on shares of Osisko Gold Royalties in a research report on Wednesday, April 23rd. Raymond James reaffirmed an "outperform" rating on shares of Osisko Gold Royalties in a research report on Friday, April 4th. Royal Bank of Canada reduced their price target on shares of Osisko Gold Royalties from $24.00 to $23.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Finally, Scotiabank upgraded shares of Osisko Gold Royalties from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the company from $22.00 to $24.00 in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Osisko Gold Royalties presently has a consensus rating of "Moderate Buy" and an average target price of $23.00.

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.