The Manufacturers Life Insurance Company Grows Position in Osisko Gold Royalties Ltd (NYSE:OR)

The Manufacturers Life Insurance Company raised its holdings in shares of Osisko Gold Royalties Ltd (NYSE:OR - Free Report) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 844,897 shares of the basic materials company's stock after purchasing an additional 48,093 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.45% of Osisko Gold Royalties worth $15,316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. PFG Investments LLC grew its stake in shares of Osisko Gold Royalties by 2.2% in the fourth quarter. PFG Investments LLC now owns 24,796 shares of the basic materials company's stock worth $449,000 after purchasing an additional 527 shares during the last quarter. Addenda Capital Inc. grew its position in shares of Osisko Gold Royalties by 1.4% in the 4th quarter. Addenda Capital Inc. now owns 38,325 shares of the basic materials company's stock valued at $694,000 after buying an additional 532 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Osisko Gold Royalties by 4.5% in the fourth quarter. Franklin Resources Inc. now owns 12,282 shares of the basic materials company's stock valued at $222,000 after buying an additional 534 shares during the period. Pictet Asset Management Holding SA raised its position in shares of Osisko Gold Royalties by 2.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 28,781 shares of the basic materials company's stock worth $521,000 after acquiring an additional 564 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its stake in shares of Osisko Gold Royalties by 11.0% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,292 shares of the basic materials company's stock worth $114,000 after acquiring an additional 626 shares during the period. 68.52% of the stock is owned by institutional investors.

Osisko Gold Royalties Stock Up 2.4 %

Osisko Gold Royalties stock traded up $0.56 during midday trading on Friday, reaching $24.27. The stock had a trading volume of 249,612 shares, compared to its average volume of 720,801. The company has a fifty day moving average price of $21.34 and a two-hundred day moving average price of $19.94. The company has a market capitalization of $4.54 billion, a P/E ratio of 269.67 and a beta of 0.76. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 0.05. Osisko Gold Royalties Ltd has a 12 month low of $15.12 and a 12 month high of $24.70.

Osisko Gold Royalties (NYSE:OR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The basic materials company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. Osisko Gold Royalties had a net margin of 8.50% and a return on equity of 7.94%. The company had revenue of $54.92 million during the quarter, compared to the consensus estimate of $79.63 million. As a group, equities analysts expect that Osisko Gold Royalties Ltd will post 0.62 EPS for the current fiscal year.

Osisko Gold Royalties Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.0457 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.18 dividend on an annualized basis and a yield of 0.75%. Osisko Gold Royalties's dividend payout ratio (DPR) is presently 200.00%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on OR shares. Scotiabank upgraded shares of Osisko Gold Royalties from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the stock from $22.00 to $24.00 in a research report on Monday, April 14th. Raymond James reiterated an "outperform" rating on shares of Osisko Gold Royalties in a report on Friday, April 4th. National Bankshares reissued an "outperform" rating on shares of Osisko Gold Royalties in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada decreased their target price on Osisko Gold Royalties from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.00.

About Osisko Gold 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.