Farther Finance Advisors LLC Makes New $314,000 Investment in OR Royalties Inc. $OR

Farther Finance Advisors LLC purchased a new position in shares of OR Royalties Inc. (NYSE:OR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,200 shares of the basic materials company’s stock, valued at approximately $314,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. raised its position 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 worth $101,181,000 after acquiring an additional 2,574,458 shares during the period. Elliott Investment Management L.P. acquired a new position in shares of OR Royalties in the first quarter worth about $46,045,000. Mackenzie Financial Corp raised its position 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 worth $106,382,000 after acquiring an additional 1,728,760 shares during the period. EdgePoint Investment Group Inc. raised its position 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 worth $507,009,000 after acquiring an additional 1,534,292 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of OR Royalties by 152.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock worth $26,539,000 after acquiring an additional 758,815 shares during the period. 68.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. National Bankshares reiterated an “outperform” rating on shares of OR Royalties in a research report on Tuesday, June 24th. Wall Street Zen downgraded shares of OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Raymond James Financial upped their price objective on shares of OR Royalties from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. CIBC reiterated an “outperform” rating on shares of OR Royalties in a research report on Tuesday, July 15th. Finally, Scotiabank upped their price target on shares of OR Royalties from $26.00 to $28.00 and gave the stock a “sector outperform” rating in a research report on Monday, July 7th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.25.

OR Royalties Stock Up 2.2%

OR stock opened at $39.27 on Tuesday. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 106.14 and a beta of 0.72. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 0.03. OR Royalties Inc. has a 12 month low of $17.55 and a 12 month high of $39.32. The firm has a 50-day moving average of $32.26 and a two-hundred day moving average of $26.92.

OR Royalties (NYSE:OR) last released its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The business had revenue of $60.36 million during the quarter, compared to analyst estimates of $83.25 million. OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. As a group, analysts forecast that OR Royalties Inc. will post 0.62 earnings per share for the current fiscal year.

OR Royalties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.055 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.22 dividend on an annualized basis and a yield of 0.6%. OR Royalties’s dividend payout ratio is presently 51.35%.

OR Royalties 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.