Mackenzie Financial Corp Reduces Stock Holdings in OR Royalties Inc. $OR

Mackenzie Financial Corp lowered its stake in shares of OR Royalties Inc. (NYSE:OR) by 10.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,853,634 shares of the basic materials company’s stock after selling 464,158 shares during the quarter. Mackenzie Financial Corp’s holdings in OR Royalties were worth $154,422,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of OR. Van ECK Associates Corp lifted its position 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 worth $623,686,000 after buying an additional 2,650,333 shares during the last quarter. Legal & General Group Plc increased its position in OR Royalties by 4.2% during the third quarter. Legal & General Group Plc now owns 192,205 shares of the basic materials company’s stock valued at $7,705,000 after acquiring an additional 7,660 shares during the last quarter. Swiss National Bank increased its position in OR Royalties by 13.6% during the third quarter. Swiss National Bank now owns 366,630 shares of the basic materials company’s stock valued at $14,701,000 after acquiring an additional 44,000 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of OR Royalties in the third quarter valued at $2,458,000. Finally, Regal Partners Ltd bought a new stake in shares of OR Royalties in the 3rd quarter worth about $762,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.

OR Royalties Stock Performance

Shares of NYSE:OR opened at $42.99 on Thursday. The firm has a market cap of $8.06 billion, a PE ratio of 39.44 and a beta of 0.75. The firm’s 50 day simple moving average is $42.23 and its 200-day simple moving average is $37.56. OR Royalties Inc. has a one year low of $18.79 and a one year high of $48.06.

OR Royalties (NYSE:OR) last posted its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $90.47 million during the quarter, compared to the consensus estimate of $90.80 million. OR Royalties had a net margin of 74.30% and a return on equity of 12.73%. Equities research analysts predict that OR Royalties Inc. will post 0.62 EPS 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 given a dividend of $0.055 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.22 dividend on an annualized basis and a yield of 0.5%. OR Royalties’s payout ratio is 20.18%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on OR shares. Scotiabank upped their price target on shares of OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a $38.00 target price on shares of OR Royalties in a research note on Sunday, December 7th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of OR Royalties in a research note on Wednesday, February 4th. Wall Street Zen cut OR Royalties from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of OR Royalties in a research note on Monday, December 29th. Two investment 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 company’s stock. According to data from MarketBeat, OR Royalties currently has a consensus rating of “Moderate Buy” and an average price target of $38.25.

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.