OR Royalties (NYSE:OR) Trading Up 7% on Analyst Upgrade

Shares of OR Royalties Inc. (NYSE:OR) shot up 7% during trading on Tuesday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $43.85 and last traded at $44.0910. 242,219 shares changed hands during trading, a decline of 83% from the average session volume of 1,408,696 shares. The stock had previously closed at $41.20.

A number of other equities analysts have also commented on the stock. Canaccord Genuity Group upgraded shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Jefferies Financial Group reiterated a “hold” rating and issued a $38.00 price target on shares of OR Royalties in a research note on Sunday, December 7th. Raymond James Financial upgraded OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a research note on Thursday, November 6th. Zacks Research lowered OR Royalties from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of OR Royalties in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, OR Royalties currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.75.

Hedge Funds Weigh In On OR Royalties

A number of hedge funds have recently added to or reduced their stakes in the business. Caitlin John LLC bought a new stake in shares of OR Royalties during the 3rd quarter valued at about $78,000. Eagle Global Advisors LLC acquired a new position in OR Royalties in the third quarter valued at approximately $206,000. Merit Financial Group LLC bought a new position in shares of OR Royalties during the third quarter valued at approximately $215,000. Flow Traders U.S. LLC acquired a new stake in shares of OR Royalties during the 3rd quarter worth approximately $217,000. Finally, Moors & Cabot Inc. bought a new stake in shares of OR Royalties in the 3rd quarter worth approximately $220,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

OR Royalties Trading Up 6.2%

The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 55.36 and a beta of 0.78. The stock has a 50-day moving average of $35.90 and a 200-day moving average of $33.89.

OR Royalties (NYSE:OR) last posted its earnings results on Wednesday, November 5th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. OR Royalties had a return on equity of 10.67% and a net margin of 60.72%.The company had revenue of $71.63 million for the quarter, compared to analysts’ expectations of $53.85 million. As a group, research analysts expect that OR Royalties Inc. will post 0.62 earnings per share for the current fiscal year.

OR Royalties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a $0.055 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.22 annualized dividend and a yield of 0.5%. OR Royalties’s dividend payout ratio is 27.85%.

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.