Royal Bank Of Canada Reiterates “Outperform” Rating for OR Royalties (NYSE:OR)

OR Royalties (NYSE:OR)‘s stock had its “outperform” rating restated by analysts at Royal Bank Of Canada in a research note issued to investors on Friday,Benzinga reports. They currently have a $56.00 price target on the basic materials company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 42.05% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Scotiabank lifted their target price on OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “buy (b)” rating on shares of OR Royalties in a research report on Monday, December 29th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of OR Royalties in a research report on Wednesday, February 4th. Zacks Research lowered OR Royalties from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, TD Securities reissued a “hold” rating on shares of OR Royalties in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

OR Royalties Trading Down 0.6%

OR opened at $39.42 on Friday. The stock has a market capitalization of $7.40 billion, a P/E ratio of 36.17 and a beta of 0.83. OR Royalties has a 12 month low of $21.93 and a 12 month high of $48.06. The firm’s fifty day simple moving average is $40.80 and its 200 day simple moving average is $38.11.

OR Royalties (NYSE:OR) last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $90.47 million for the quarter, compared to analysts’ expectations of $90.80 million. OR Royalties had a net margin of 74.30% and a return on equity of 12.41%. On average, equities research analysts predict that OR Royalties will post 0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Linden Thomas Advisory Services LLC boosted its position in OR Royalties by 4.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,254 shares of the basic materials company’s stock valued at $221,000 after purchasing an additional 249 shares during the last quarter. Wells Fargo & Company MN raised its position in OR Royalties by 6.2% during the fourth quarter. Wells Fargo & Company MN now owns 5,901 shares of the basic materials company’s stock worth $209,000 after acquiring an additional 346 shares in the last quarter. Allworth Financial LP raised its position in OR Royalties by 20.0% during the fourth quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 384 shares in the last quarter. Cetera Investment Advisers raised its position in OR Royalties by 3.5% during the second quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock worth $337,000 after acquiring an additional 440 shares in the last quarter. Finally, FIL Ltd bought a new stake in OR Royalties during the fourth quarter worth $29,000. 68.52% of the stock is owned by institutional investors and hedge funds.

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.