OR Royalties Inc. (NYSE:OR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

OR Royalties Inc. (NYSE:OR) has been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $38.25.

A number of equities analysts recently commented on OR shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $38.00 price objective on shares of OR Royalties in a research note on Sunday, December 7th. Scotiabank upped their price objective on shares of OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Zacks Research upgraded shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Weiss Ratings restated a “buy (b)” rating on shares of OR Royalties in a report on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of OR Royalties in a research report on Wednesday, February 4th.

Institutional Trading of OR Royalties

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Picton Mahoney Asset Management bought a new position in OR Royalties during the second quarter valued at about $96,617,000. Van ECK Associates Corp boosted its stake in OR Royalties by 20.5% in the third quarter. Van ECK Associates Corp now owns 15,561,057 shares of the basic materials company’s stock valued at $623,686,000 after acquiring an additional 2,650,333 shares during the last quarter. Norges Bank bought a new position in shares of OR Royalties during the 4th quarter valued at approximately $88,597,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of OR Royalties by 39.2% during 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 last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of OR Royalties in the 3rd quarter worth approximately $41,210,000. Institutional investors own 68.52% of the company’s stock.

OR Royalties Price Performance

Shares of NYSE:OR opened at $45.81 on Thursday. OR Royalties has a 1 year low of $17.55 and a 1 year high of $47.75. The company has a market capitalization of $8.59 billion, a P/E ratio of 42.03 and a beta of 0.76. The business’s 50 day simple moving average is $40.61 and its 200 day simple moving average is $36.58.

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

OR Royalties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, March 31st. OR Royalties’s dividend payout ratio is 20.18%.

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.