OR Royalties (NYSE:OR) Upgraded at Zacks Research

Zacks Research upgraded shares of OR Royalties (NYSE:OR) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

A number of other research firms have also recently commented on OR. Jefferies Financial Group reaffirmed a “hold” rating and set a $38.00 price objective on shares of OR Royalties in a research report on Sunday, December 7th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of OR Royalties in a report on Wednesday. Raymond James Financial raised shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a report on Thursday, November 6th. Wall Street Zen upgraded OR Royalties from a “buy” rating to a “strong-buy” rating in a report on Monday, January 19th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of OR Royalties in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $38.25.

OR Royalties Stock Up 3.4%

Shares of NYSE OR opened at $40.00 on Wednesday. The business’s 50 day moving average price is $38.41 and its two-hundred day moving average price is $35.20. The company has a market cap of $7.49 billion, a PE ratio of 50.63 and a beta of 0.76. OR Royalties has a twelve month low of $17.55 and a twelve month high of $47.75.

OR Royalties (NYSE:OR) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. The company had revenue of $71.63 million during 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%. As a group, research analysts anticipate that OR Royalties will post 0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On OR Royalties

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Picton Mahoney Asset Management bought a new position in OR Royalties in the second quarter valued at about $96,617,000. Van ECK Associates Corp increased its position in 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 purchasing an additional 2,650,333 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of OR Royalties in the 3rd quarter valued at $41,210,000. Finally, Goldman Sachs Group Inc. raised its stake 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 worth $26,539,000 after buying an additional 758,815 shares during the last quarter. 68.52% of the stock is currently owned by institutional investors.

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.