Brokerages Set OR Royalties Inc. (NYSE:OR) PT at $24.33

OR Royalties Inc. (NYSE:OR) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $24.33.

OR has been the topic of a number of recent analyst reports. Scotiabank upped their target price on shares of OR Royalties from $26.00 to $28.00 and gave the company a “sector outperform” rating in a research note on Monday, July 7th. Raymond James Financial reiterated an “outperform” rating on shares of OR Royalties in a research note on Friday, April 4th. National Bankshares reiterated an “outperform” rating on shares of OR Royalties in a research note on Tuesday, June 24th. Wall Street Zen lowered shares of OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, Royal Bank Of Canada dropped their price objective on shares of OR Royalties from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Friday, April 4th.

OR Royalties Stock Performance

Shares of OR Royalties stock opened at $27.38 on Wednesday. The firm has a market cap of $5.15 billion, a PE ratio of 161.06 and a beta of 0.75. The firm’s 50-day simple moving average is $25.73 and its 200-day simple moving average is $22.14. 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 1 year low of $15.78 and a 1 year high of $28.22.

OR Royalties (NYSE:OR) last issued its earnings results on Wednesday, May 7th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $54.92 million for the quarter, compared to analyst estimates of $79.63 million. OR Royalties had a net margin of 15.28% and a return on equity of 8.66%. Equities analysts forecast that OR Royalties will post 0.62 earnings per share for the current fiscal year.

OR Royalties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.055 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.22 annualized dividend and a dividend yield of 0.80%. This is a positive change from OR Royalties’s previous quarterly dividend of $0.05. OR Royalties’s dividend payout ratio (DPR) is presently 111.76%.

Institutional Investors Weigh In On OR Royalties

Several large investors have recently made changes to their positions in the company. EdgePoint Investment Group Inc. boosted its holdings in shares of OR Royalties by 6.8% in the first quarter. EdgePoint Investment Group Inc. now owns 24,020,067 shares of the basic materials company’s stock valued at $507,009,000 after acquiring an additional 1,534,292 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of OR Royalties by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,251,763 shares of the basic materials company’s stock valued at $153,041,000 after acquiring an additional 43,417 shares in the last quarter. FMR LLC boosted its holdings in shares of OR Royalties by 25.2% in the fourth quarter. FMR LLC now owns 5,613,898 shares of the basic materials company’s stock valued at $101,659,000 after acquiring an additional 1,128,969 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of OR Royalties by 52.2% in the first quarter. Mackenzie Financial Corp now owns 5,040,962 shares of the basic materials company’s stock valued at $106,382,000 after acquiring an additional 1,728,760 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of OR Royalties by 116.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,790,732 shares of the basic materials company’s stock valued at $101,181,000 after acquiring an additional 2,574,458 shares in the last quarter. 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.