OR Royalties (NYSE:OR) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of OR Royalties (NYSE:OR) from a hold rating to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

OR has been the topic of a number of other reports. Scotiabank downgraded shares of OR Royalties from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $33.00 to $41.00 in a research report on Thursday. National Bankshares reissued an “outperform” rating on shares of OR Royalties in a research report on Tuesday, June 24th. Zacks Research raised shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. CIBC restated an “outperform” rating on shares of OR Royalties in a report on Tuesday, July 15th. Finally, Wall Street Zen upgraded shares of OR Royalties from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.25.

OR Royalties Stock Down 1.1%

Shares of OR Royalties stock opened at $33.33 on Wednesday. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $35.65 and its two-hundred day simple moving average is $29.14. The company has a market cap of $6.27 billion, a P/E ratio of 90.08 and a beta of 0.75. OR Royalties has a 12-month low of $17.55 and a 12-month high of $42.25.

OR Royalties (NYSE:OR) last issued its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The company had revenue of $60.36 million for the quarter, compared to analysts’ expectations of $83.25 million. OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. Research analysts anticipate that OR Royalties will post 0.62 EPS for the current year.

OR Royalties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.055 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $0.22 dividend on an annualized basis and a yield of 0.7%. OR Royalties’s payout ratio is presently 59.46%.

Hedge Funds Weigh In On OR Royalties

Hedge funds have recently bought and sold shares of the company. Plato Investment Management Ltd bought a new position in OR Royalties in the 1st quarter worth about $56,000. Summit Securities Group LLC bought a new position in OR Royalties in the 1st quarter worth about $62,000. Hsbc Holdings PLC bought a new position in OR Royalties in the 1st quarter worth about $208,000. Merit Financial Group LLC bought a new position in OR Royalties in the 3rd quarter worth about $215,000. Finally, Smith Salley Wealth Management bought a new position in OR Royalties in the 3rd quarter worth about $228,000. Institutional investors own 68.52% of the company’s stock.

OR Royalties Company Profile

Osisko Gold Royalties Ltd acquires and manages precious metal and other royalties, streams, and other interests in Canada and internationally. It also owns options on offtake; royalty/stream financings; and exclusive rights to participate in future royalty/stream financings on various projects. The company’s primary asset is a 3-5% net smelter return royalty on the Canadian Malartic complex located in Canada.