OR Royalties (NYSE:OR) Upgraded by Wall Street Zen to “Strong-Buy” Rating

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

A number of other research analysts also recently issued reports on OR. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of OR Royalties in a research note on Wednesday, February 4th. Zacks Research upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Jefferies Financial Group reissued a “hold” rating and issued a $38.00 price objective on shares of OR Royalties in a research note on Sunday, December 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OR Royalties in a research note on Monday, December 29th. Finally, Scotiabank upped their target price on OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, OR Royalties has an average rating of “Moderate Buy” and a consensus target price of $38.25.

OR Royalties Stock Down 4.9%

OR stock opened at $32.89 on Friday. The business has a 50 day moving average of $42.40 and a 200 day moving average of $37.84. The firm has a market cap of $6.17 billion, a PE ratio of 30.17 and a beta of 0.75. OR Royalties has a twelve month low of $18.99 and a twelve month high of $48.06.

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

Hedge Funds Weigh In On OR Royalties

Several hedge funds and other institutional investors have recently made changes to their positions in OR. Horizon Kinetics Asset Management LLC increased its position in shares of OR Royalties by 6.7% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 1,817,501 shares of the basic materials company’s stock worth $46,728,000 after purchasing an additional 114,464 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of OR Royalties during the third quarter worth approximately $2,649,000. CWA Asset Management Group LLC lifted its position in shares of OR Royalties by 112.6% during the 3rd quarter. CWA Asset Management Group LLC now owns 381,747 shares of the basic materials company’s stock worth $15,300,000 after purchasing an additional 202,173 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of OR Royalties during the 2nd quarter worth approximately $96,617,000. Finally, Synergy Asset Management LLC lifted its position in OR Royalties by 200.0% in the third quarter. Synergy Asset Management LLC now owns 52,851 shares of the basic materials company’s stock valued at $2,118,000 after acquiring an additional 35,234 shares during the last quarter. Hedge funds and other institutional investors 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.