Millennium Management LLC Sells 1,098,830 Shares of Osisko Gold Royalties Ltd (NYSE:OR)

Millennium Management LLC reduced its stake in Osisko Gold Royalties Ltd (NYSE:OR) by 17.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,328,813 shares of the basic materials company’s stock after selling 1,098,830 shares during the quarter. Millennium Management LLC owned about 2.85% of Osisko Gold Royalties worth $96,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of OR. Vanguard Group Inc. lifted its holdings in shares of Osisko Gold Royalties by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 7,208,346 shares of the basic materials company’s stock worth $130,529,000 after acquiring an additional 128,099 shares during the last quarter. FMR LLC raised its position in Osisko Gold Royalties by 25.2% during the fourth quarter. FMR LLC now owns 5,613,898 shares of the basic materials company’s stock valued at $101,659,000 after purchasing an additional 1,128,969 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Osisko Gold Royalties by 352.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,099,521 shares of the basic materials company’s stock worth $74,160,000 after purchasing an additional 3,194,173 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Osisko Gold Royalties in the 4th quarter worth about $60,364,000. Finally, CIBC Asset Management Inc increased its position in shares of Osisko Gold Royalties by 21.6% during the 4th quarter. CIBC Asset Management Inc now owns 3,111,398 shares of the basic materials company’s stock valued at $56,215,000 after purchasing an additional 551,936 shares during the last quarter. 68.52% of the stock is currently owned by institutional investors.

Osisko Gold Royalties Stock Performance

Shares of OR stock opened at $22.71 on Thursday. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 252.33 and a beta of 0.76. The stock has a fifty day moving average of $21.71 and a 200 day moving average of $20.01. Osisko Gold Royalties Ltd has a 52 week low of $15.12 and a 52 week high of $24.70. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 0.05.

Osisko Gold Royalties (NYSE:OR) last announced its earnings results on Wednesday, May 7th. The basic materials company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. Osisko Gold Royalties had a net margin of 8.50% and a return on equity of 7.94%. The firm had revenue of $54.92 million for the quarter, compared to analyst estimates of $79.63 million. As a group, research analysts expect that Osisko Gold Royalties Ltd will post 0.62 earnings per share for the current year.

Osisko Gold Royalties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Monday, June 30th. This is a boost from Osisko Gold Royalties’s previous quarterly dividend of $0.05. Osisko Gold Royalties’s dividend payout ratio (DPR) is presently 105.88%.

Analyst Ratings Changes

Several analysts have issued reports on OR shares. Scotiabank raised Osisko Gold Royalties from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $22.00 to $24.00 in a research note on Monday, April 14th. Raymond James reaffirmed an “outperform” rating on shares of Osisko Gold Royalties in a research note on Friday, April 4th. Royal Bank of Canada lowered their target price on Osisko Gold Royalties from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. Finally, National Bankshares restated an “outperform” rating on shares of Osisko Gold Royalties in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Osisko Gold Royalties Company Profile

Osisko Gold Royalties Ltd acquires and manages precious metal and other royalties, streams, and other interests in Canada and internationally. It also owns options on offtake; royalty/stream financings; and exclusive rights to participate in future royalty/stream financings on various projects. The company’s primary asset is a 3-5% net smelter return royalty on the Canadian Malartic complex located in Canada.