Alps Advisors Inc. Invests $2.65 Million in OR Royalties Inc. $OR

Alps Advisors Inc. bought a new stake in OR Royalties Inc. (NYSE:OR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 66,105 shares of the basic materials company’s stock, valued at approximately $2,649,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in shares of OR Royalties by 152.4% during the 1st 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 during the last quarter. Allspring Global Investments Holdings LLC raised its stake in OR Royalties by 0.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 283,500 shares of the basic materials company’s stock valued at $7,291,000 after buying an additional 1,500 shares during the last quarter. TD Asset Management Inc raised its stake in OR Royalties by 12.4% in the second quarter. TD Asset Management Inc now owns 1,103,356 shares of the basic materials company’s stock valued at $28,317,000 after buying an additional 121,376 shares during the last quarter. Twin Tree Management LP acquired a new stake in OR Royalties in the second quarter worth about $245,000. Finally, C WorldWide Group Holding A S grew its stake in shares of OR Royalties by 34.5% during the second quarter. C WorldWide Group Holding A S now owns 104,974 shares of the basic materials company’s stock worth $2,699,000 after acquiring an additional 26,942 shares during the last quarter. 68.52% of the stock is owned by hedge funds and other institutional investors.

OR Royalties Stock Up 2.0%

Shares of OR opened at $42.98 on Wednesday. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 54.41 and a beta of 0.76. OR Royalties Inc. has a 52 week low of $17.55 and a 52 week high of $47.75. The stock’s 50-day moving average price is $38.74 and its 200-day moving average price is $35.50.

Analysts Set New Price Targets

Several brokerages recently commented on OR. Raymond James Financial raised shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a research report on Thursday, November 6th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of OR Royalties in a report on Wednesday, February 4th. Scotiabank lifted their price objective on shares of OR Royalties from $41.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Canaccord Genuity Group raised OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. 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 given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price 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.