Intact Investment Management Inc. Decreases Stock Holdings in OR Royalties Inc. $OR

Intact Investment Management Inc. lowered its stake in OR Royalties Inc. (NYSE:OR) by 27.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 86,100 shares of the basic materials company’s stock after selling 31,900 shares during the quarter. Intact Investment Management Inc.’s holdings in OR Royalties were worth $3,451,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Eagle Global Advisors LLC purchased a new position in OR Royalties during the third quarter valued at $206,000. Merit Financial Group LLC purchased a new position in OR Royalties in the 3rd quarter valued at about $215,000. Smith Salley Wealth Management acquired a new stake in OR Royalties in the 3rd quarter worth about $228,000. Corundum Trust Company INC purchased a new stake in OR Royalties during the 3rd quarter worth approximately $240,000. Finally, Twin Tree Management LP purchased a new stake in OR Royalties during the 2nd quarter worth approximately $245,000. 68.52% of the stock is currently owned by institutional investors and hedge funds.

OR Royalties Price Performance

NYSE OR opened at $45.53 on Tuesday. The firm’s 50-day moving average is $36.88 and its two-hundred day moving average is $34.40. OR Royalties Inc. has a 12 month low of $17.55 and a 12 month high of $47.57. The stock has a market capitalization of $8.52 billion, a P/E ratio of 57.63 and a beta of 0.78.

OR Royalties (NYSE:OR) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. OR Royalties had a net margin of 60.72% and a return on equity of 10.67%. The business had revenue of $71.63 million during the quarter, compared to analysts’ expectations of $53.85 million. As a group, analysts anticipate that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, December 31st. OR Royalties’s dividend payout ratio is 27.85%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OR shares. Weiss Ratings restated a “buy (b)” rating on shares of OR Royalties in a research report on Monday, December 29th. Zacks Research cut shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Wall Street Zen raised shares of OR Royalties from a “buy” rating to a “strong-buy” rating in a report on Monday, January 19th. Jefferies Financial Group reiterated a “hold” rating and issued a $38.00 target price on shares of OR Royalties in a research report on Sunday, December 7th. Finally, Scotiabank boosted their price target on shares of OR Royalties from $41.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.25.

About OR Royalties

OR Royalties PLC (NYSE: OR) is a closed-ended investment company that specializes in acquiring and managing royalty interests in life science and pharmaceutical products. The company provides capital to biotechnology, specialty pharmaceutical and medical device companies in exchange for a share of future sales revenues. By focusing on royalties secured against marketed products, OR Royalties aims to deliver income and growth potential while minimizing the development and commercialization risks typically associated with direct equity stakes.

The company’s core activities include sourcing royalty transactions, structuring bespoke financing solutions and actively monitoring a diversified portfolio of assets.