Royal Bank Of Canada Forecasts Strong Price Appreciation for OR Royalties (NYSE:OR) Stock

OR Royalties (NYSE:OR) had its price target hoisted by analysts at Royal Bank Of Canada from $45.00 to $47.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 32.39% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group decreased their target price on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Weiss Ratings cut OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 24th. Wall Street Zen lowered OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Scotiabank cut their price objective on OR Royalties from $51.00 to $42.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Finally, Zacks Research upgraded shares of OR Royalties from a “strong sell” rating to a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

OR Royalties Stock Down 0.2%

Shares of OR stock traded down $0.08 on Wednesday, hitting $35.50. 537,756 shares of the stock were exchanged, compared to its average volume of 1,157,926. 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 firm has a market capitalization of $6.62 billion, a P/E ratio of 23.69 and a beta of 0.80. OR Royalties has a fifty-two week low of $27.54 and a fifty-two week high of $48.06. The business has a 50-day moving average of $33.05 and a 200 day moving average of $35.87.

OR Royalties (NYSE:OR) last announced its earnings results on Wednesday, August 5th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business 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 anticipate that OR Royalties will post 1.25 EPS for the current year.

Hedge Funds Weigh In On OR Royalties

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of OR Royalties in the fourth quarter worth approximately $88,597,000. Verbena Value LP lifted its holdings 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 purchasing an additional 596,000 shares in the last quarter. Renaissance Technologies LLC grew its position in OR Royalties by 86.2% in the 1st quarter. Renaissance Technologies LLC now owns 783,302 shares of the basic materials company’s stock valued at $29,781,000 after purchasing an additional 362,700 shares during the period. Bank of America Corp DE increased its stake in OR Royalties by 37.4% during 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 in the last quarter. Finally, Montrusco Bolton Investments Inc. acquired a new position in OR Royalties during the first quarter worth $9,664,000. 68.52% of the stock is currently owned by institutional investors and hedge funds.

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.