OR Royalties Inc. (NYSE:OR) Given Consensus Rating of “Moderate Buy” by Analysts

OR Royalties Inc. (NYSE:OR) has received an average rating of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $46.50.

OR has been the subject of several analyst reports. Zacks Research cut shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Wall Street Zen cut OR Royalties from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. Royal Bank Of Canada reiterated an “outperform” rating and set a $56.00 price target on shares of OR Royalties in a report on Friday, April 10th. TD Securities reiterated a “hold” rating on shares of OR Royalties in a report on Monday, February 23rd. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of OR Royalties in a report on Wednesday, February 4th.

Hedge Funds Weigh In On OR Royalties

A number of hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its position in shares of 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 purchasing an additional 2,650,333 shares during the period. Vanguard Group Inc. boosted its position in shares of OR Royalties by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 7,847,015 shares of the basic materials company’s stock worth $277,965,000 after purchasing an additional 167,970 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of OR Royalties by 39.2% during the 3rd 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 boosted its holdings in OR Royalties by 1.6% during the 4th quarter. Picton Mahoney Asset Management now owns 3,160,518 shares of the basic materials company’s stock valued at $112,114,000 after acquiring an additional 50,882 shares during the period. Finally, Elliott Investment Management L.P. boosted its holdings in OR Royalties by 42.7% during the 4th quarter. Elliott Investment Management L.P. now owns 3,111,000 shares of the basic materials company’s stock valued at $110,098,000 after acquiring an additional 930,849 shares during the period. Hedge funds and other institutional investors own 68.52% of the company’s stock.

OR Royalties Stock Down 5.1%

Shares of NYSE:OR opened at $36.41 on Tuesday. The business has a fifty day moving average of $38.99 and a two-hundred day moving average of $38.28. The stock has a market cap of $6.83 billion, a P/E ratio of 27.17 and a beta of 0.71. OR Royalties has a 52-week low of $22.63 and a 52-week high of $48.06.

OR Royalties (NYSE:OR) last posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. The business had revenue of $102.83 million during the quarter, compared to analysts’ expectations of $103.27 million. On average, equities analysts anticipate that OR Royalties will post 1.4 earnings per share for the current year.

OR Royalties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.065 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio (DPR) is currently 16.42%.

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.