OR Royalties Inc. (NYSE:OR) Receives Average Recommendation of “Hold” from Brokerages

OR Royalties Inc. (NYSE:OR) has earned a consensus recommendation of “Hold” from the nine research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $40.50.

Several research analysts have recently issued reports on the company. Royal Bank Of Canada decreased their target price on OR Royalties from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Weiss Ratings lowered OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 24th. Zacks Research cut OR Royalties from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Wall Street Zen downgraded OR Royalties from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Scotiabank lowered their price objective on OR Royalties from $51.00 to $42.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th.

OR Royalties Trading Up 4.1%

NYSE:OR opened at $30.70 on Friday. The company has a 50-day moving average price of $32.27 and a 200-day moving average price of $37.63. OR Royalties has a 12 month low of $27.54 and a 12 month high of $48.06. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 22.91 and a beta of 0.74.

OR Royalties (NYSE:OR) last announced its earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $102.83 million for the quarter, compared to analyst estimates of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. Equities analysts forecast that OR Royalties will post 1.27 EPS for the current fiscal year.

OR Royalties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.065 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s payout ratio is currently 18.66%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased 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 purchasing an additional 167,970 shares in the last quarter. Picton Mahoney Asset Management boosted its position in shares of OR Royalties by 1.6% in the 4th quarter. Picton Mahoney Asset Management now owns 3,160,518 shares of the basic materials company’s stock worth $112,114,000 after purchasing an additional 50,882 shares in the last quarter. Elliott Investment Management L.P. boosted its position in shares of OR Royalties by 42.7% in the 4th 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 in the last quarter. Norges Bank purchased a new stake in shares of OR Royalties in the 4th quarter worth approximately $88,597,000. Finally, Tidal Investments LLC grew its stake in shares of OR Royalties by 25.4% in the 3rd quarter. Tidal Investments LLC now owns 2,347,760 shares of the basic materials company’s stock worth $94,098,000 after buying an additional 474,840 shares during the last quarter. 68.52% of the stock is owned by hedge funds and other institutional investors.

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.