OR Royalties (NYSE:OR) Raised to “Hold” at Zacks Research

OR Royalties (NYSE:OR) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday, Zacks reports.

Several other analysts have also issued reports on the company. Wall Street Zen lowered OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Royal Bank Of Canada decreased their price target on shares of OR Royalties from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Scotiabank lowered their price objective on shares of OR Royalties from $51.00 to $42.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Jefferies Financial Group cut their price objective on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research note on Monday, July 6th. Finally, Weiss Ratings lowered shares of OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.50.

OR Royalties Price Performance

OR opened at $35.54 on Monday. The stock has a 50-day moving average price of $33.05 and a 200-day moving average price of $35.87. OR Royalties has a 12-month low of $27.54 and a 12-month high of $48.06. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $6.62 billion, a P/E ratio of 23.69 and a beta of 0.80.

OR Royalties (NYSE:OR) last announced its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $97.82 million for the quarter, compared to analyst estimates of $97.93 million. OR Royalties had a return on equity of 16.41% and a net margin of 78.04%. Equities analysts predict that OR Royalties will post 1.25 earnings per share for the current fiscal year.

Institutional Trading of OR Royalties

Several hedge funds and other institutional investors have recently bought and sold shares of OR. Norges Bank bought a new stake in OR Royalties during the 4th quarter valued at approximately $88,597,000. Verbena Value LP raised its position in shares of OR Royalties by 85.3% in the 1st quarter. Verbena Value LP now owns 1,294,900 shares of the basic materials company’s stock worth $49,232,000 after acquiring an additional 596,000 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of OR Royalties by 86.2% in the 1st quarter. Renaissance Technologies LLC now owns 783,302 shares of the basic materials company’s stock worth $29,781,000 after acquiring an additional 362,700 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of OR Royalties by 37.4% in the 1st quarter. Bank of America Corp DE now owns 1,008,086 shares of the basic materials company’s stock valued at $38,327,000 after purchasing an additional 274,486 shares during the period. Finally, Montrusco Bolton Investments Inc. purchased a new position in shares of OR Royalties in the 1st quarter valued at approximately $9,664,000. Institutional investors own 68.52% of the company’s stock.

About OR Royalties

OR Royalties Inc (NYSE: OR) is a precious metals royalty and streaming company that provides financing to mining companies in exchange for the right to receive a portion of future production or revenue from their projects. Its portfolio is primarily focused on gold, silver and other metals, allowing the company to participate in mining output without directly operating mines.

The company’s business includes royalty interests, streams, offtake agreements and other investments linked to producing, developing and exploration-stage mining projects.