OR Royalties (NYSE:OR) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen cut shares of OR Royalties (NYSE:OR) from a strong-buy rating to a buy rating in a report released on Saturday morning.

Other research analysts have also recently issued reports about the stock. Raymond James Financial raised shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price objective on the stock in a research note on Thursday, November 6th. 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. Scotiabank boosted their price target on OR Royalties from $41.00 to $51.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OR Royalties in a research note on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of OR Royalties in a research note on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, OR Royalties currently has a consensus rating of “Buy” and a consensus price target of $38.25.

OR Royalties Stock Up 4.1%

Shares of OR Royalties stock opened at $43.67 on Friday. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 40.06 and a beta of 0.76. The company has a 50-day simple moving average of $40.01 and a two-hundred day simple moving average of $36.26. OR Royalties has a twelve month low of $17.55 and a twelve month high of $47.75.

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

OR Royalties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.055 dividend. 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 presently 20.18%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in OR Royalties by 20.5% during the 3rd quarter. Van ECK Associates Corp now owns 15,561,057 shares of the basic materials company’s stock worth $623,686,000 after buying an additional 2,650,333 shares during the period. Vanguard Group Inc. raised its stake in shares of OR Royalties by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 7,847,015 shares of the basic materials company’s stock valued at $277,965,000 after acquiring an additional 167,970 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of OR Royalties by 39.2% during the third 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 period. Picton Mahoney Asset Management bought a new stake in shares of OR Royalties in the second quarter worth $96,617,000. Finally, Elliott Investment Management L.P. grew its stake in shares of OR Royalties by 42.7% in the fourth quarter. Elliott Investment Management L.P. now owns 3,111,000 shares of the basic materials company’s stock worth $110,098,000 after purchasing an additional 930,849 shares during the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

OR Royalties Company Profile

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.