OR Royalties (NYSE:OR) Rating Lowered to “Buy” at Wall Street Zen

OR Royalties (NYSE:OR) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other analysts also recently commented on OR. Scotiabank boosted their target price on OR Royalties from $41.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a $38.00 price target on shares of OR Royalties in a research note on Sunday, December 7th. 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. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of OR Royalties in a report on Wednesday, February 4th. Finally, Zacks Research upgraded shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, OR Royalties has a consensus rating of “Buy” and a consensus target price of $38.25.

OR Royalties Trading Up 4.1%

Shares of OR Royalties stock opened at $43.67 on Friday. OR Royalties has a 12-month low of $17.55 and a 12-month high of $47.75. The stock has a market cap of $8.19 billion, a PE ratio of 40.06 and a beta of 0.76. The company has a 50-day moving average of $40.01 and a two-hundred day moving average of $36.21.

OR Royalties (NYSE:OR) last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $90.47 million for the quarter, compared to analyst estimates of $90.80 million. OR Royalties had a return on equity of 12.73% and a net margin of 74.30%. On average, sell-side analysts forecast that OR Royalties will post 0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On OR Royalties

A number of institutional investors have recently modified their holdings of the company. FIL Ltd purchased a new position in shares of OR Royalties during the fourth quarter valued at approximately $29,000. Assetmark Inc. acquired a new position in OR Royalties in the 4th quarter valued at $36,000. Caitlin John LLC purchased a new position in shares of OR Royalties during the 3rd quarter worth $78,000. Allworth Financial LP lifted its stake in shares of OR Royalties by 20.0% during the 4th quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 384 shares during the period. Finally, Eagle Global Advisors LLC acquired a new stake in shares of OR Royalties during the third quarter worth $206,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

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.