OR Royalties (NYSE:OR) Stock Rating Lowered by Zacks Research

OR Royalties (NYSE:OR) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of OR Royalties from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of OR Royalties in a research report on Wednesday, February 4th. TD Securities reiterated a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Scotiabank raised their price objective on OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Finally, Jefferies Financial Group restated a “hold” rating and set a $38.00 price objective on shares of OR Royalties in a report on Sunday, December 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.25.

OR Royalties Stock Up 5.5%

OR opened at $40.10 on Tuesday. The firm’s 50 day moving average is $41.49 and its 200-day moving average is $37.94. OR Royalties has a 52-week low of $18.99 and a 52-week high of $48.06. The firm has a market capitalization of $7.52 billion, a P/E ratio of 36.79 and a beta of 0.83.

OR Royalties (NYSE:OR) last announced its 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 business 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 analysts expect that OR Royalties will post 0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OR Royalties

Institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp lifted its position in shares of OR Royalties by 20.5% during 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 purchasing an additional 2,650,333 shares during the last quarter. Norges Bank bought a new stake in OR Royalties in the fourth quarter valued at about $88,597,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in OR Royalties by 39.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,543,667 shares of the basic materials company’s stock valued at $302,419,000 after buying an additional 2,124,421 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in OR Royalties during the third quarter valued at approximately $41,210,000. Finally, Elliott Investment Management L.P. raised its stake in OR Royalties by 42.7% during the fourth 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 buying an additional 930,849 shares in the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

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.