Picton Mahoney Asset Management Invests $96.62 Million in OR Royalties Inc. $OR

Picton Mahoney Asset Management acquired a new stake in shares of OR Royalties Inc. (NYSE:OR) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,774,310 shares of the basic materials company’s stock, valued at approximately $96,617,000. OR Royalties comprises approximately 1.0% of Picton Mahoney Asset Management’s investment portfolio, making the stock its 15th biggest position.

A number of other hedge funds also recently bought and sold shares of the company. Plato Investment Management Ltd purchased a new stake in OR Royalties in the first quarter worth approximately $56,000. Summit Securities Group LLC purchased a new position in shares of OR Royalties during the first quarter worth approximately $62,000. Twin Tree Management LP bought a new stake in shares of OR Royalties in the 2nd quarter worth approximately $245,000. Hsbc Holdings PLC purchased a new stake in shares of OR Royalties in the 1st quarter valued at $208,000. Finally, Trexquant Investment LP purchased a new stake in shares of OR Royalties in the 1st quarter valued at $248,000. Institutional investors own 68.52% of the company’s stock.

OR Royalties Price Performance

NYSE OR opened at $32.24 on Monday. OR Royalties Inc. has a 1 year low of $17.55 and a 1 year high of $42.25. The stock has a market capitalization of $6.07 billion, a PE ratio of 87.14 and a beta of 0.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.73 and a quick ratio of 4.73. The business’s 50-day moving average is $35.46 and its 200 day moving average is $30.57.

OR Royalties (NYSE:OR) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $71.63 million during the quarter, compared to analysts’ expectations of $53.85 million. OR Royalties had a return on equity of 8.56% and a net margin of 35.25%. Sell-side analysts forecast that OR Royalties Inc. will post 0.62 earnings per share for the current year.

OR Royalties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.055 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.22 dividend on an annualized basis and a yield of 0.7%. OR Royalties’s dividend payout ratio (DPR) is presently 27.85%.

Analysts Set New Price Targets

Several analysts have issued reports on OR shares. Raymond James Financial upgraded shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price target for the company in a research report on Thursday, November 6th. Wall Street Zen upgraded OR Royalties from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Canaccord Genuity Group upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Zacks Research upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $40.00 price objective (up previously from $34.00) on shares of OR Royalties in a research note on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $36.25.

OR Royalties 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.