OR Royalties Inc. (NYSE:OR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of OR Royalties Inc. (NYSE:OR) have been given an average recommendation of “Moderate Buy” by the nine research firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $38.25.

A number of equities analysts have weighed in on the company. Canaccord Genuity Group raised OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Raymond James Financial upgraded shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price objective on the stock in a research report on Thursday, November 6th. Scotiabank lifted their target price 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, January 26th. Wall Street Zen upgraded shares of OR Royalties from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of OR Royalties in a research note on Monday, December 29th.

OR Royalties Stock Down 13.7%

Shares of OR opened at $39.46 on Friday. OR Royalties has a twelve month low of $17.55 and a twelve month high of $47.75. The company has a market capitalization of $7.38 billion, a P/E ratio of 49.95 and a beta of 0.78. The firm has a 50 day moving average of $37.84 and a 200 day moving average of $34.83.

OR Royalties (NYSE:OR) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The business had revenue of $71.63 million for the quarter, compared to the consensus estimate of $53.85 million. OR Royalties had a return on equity of 10.67% and a net margin of 60.72%. On average, sell-side analysts expect that OR Royalties will post 0.62 EPS for the current year.

OR Royalties Announces Dividend

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 dividend yield of 0.6%. The ex-dividend date was Wednesday, December 31st. OR Royalties’s payout ratio is currently 27.85%.

Hedge Funds Weigh In On OR Royalties

A number of institutional investors and hedge funds have recently made changes to their positions in OR. Picton Mahoney Asset Management purchased a new stake in OR Royalties during the second quarter valued at approximately $96,617,000. Van ECK Associates Corp grew its position in shares of OR Royalties by 20.5% during the 3rd quarter. Van ECK Associates Corp now owns 15,561,057 shares of the basic materials company’s stock valued at $623,686,000 after acquiring an additional 2,650,333 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of OR Royalties by 39.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,543,667 shares of the basic materials company’s stock worth $302,419,000 after purchasing an additional 2,124,421 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in OR Royalties in the 3rd quarter worth $41,210,000. Finally, Goldman Sachs Group Inc. lifted its position in OR Royalties by 152.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock valued at $26,539,000 after purchasing an additional 758,815 shares in the last quarter. Hedge funds and other institutional investors own 68.52% of the company’s stock.

OR Royalties Company Profile

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.