OR Royalties (NYSE:OR) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of OR Royalties (NYSE:OR) from a buy rating to a hold rating in a research note published on Saturday morning.

Several other equities research analysts also recently commented on the stock. National Bankshares restated an “outperform” rating on shares of OR Royalties in a research note on Tuesday, June 24th. Scotiabank upped their price objective on shares of OR Royalties from $26.00 to $28.00 and gave the stock a “sector outperform” rating in a research note on Monday, July 7th. CIBC reaffirmed an “outperform” rating on shares of OR Royalties in a report on Tuesday, July 15th. Finally, Raymond James Financial lifted their target price on shares of OR Royalties from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, OR Royalties has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

OR Royalties Stock Performance

NYSE OR opened at $36.93 on Friday. OR Royalties has a twelve month low of $17.55 and a twelve month high of $37.27. The stock has a market cap of $6.95 billion, a P/E ratio of 99.81 and a beta of 0.72. The company’s 50-day simple moving average is $30.29 and its 200 day simple moving average is $25.64. The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 0.03.

OR Royalties (NYSE:OR) last issued its earnings results on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The company had revenue of $60.36 million during the quarter, compared to analyst estimates of $83.25 million. OR Royalties had a return on equity of 8.56% and a net margin of 35.25%. As a group, research analysts forecast that OR Royalties will post 0.62 earnings per share for the current fiscal year.

OR Royalties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.055 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.22 annualized dividend and a yield of 0.6%. OR Royalties’s dividend payout ratio is currently 51.35%.

Institutional Investors Weigh In On OR Royalties

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC acquired a new position in shares of OR Royalties during the second quarter valued at $586,000. B. Riley Wealth Advisors Inc. bought a new position in shares of OR Royalties in the 2nd quarter worth $628,000. Newbridge Financial Services Group Inc. bought a new position in OR Royalties during the second quarter worth about $451,000. Advisory Services Network LLC acquired a new position in OR Royalties during the second quarter valued at approximately $798,000. Finally, State of Tennessee Department of Treasury raised its stake in OR Royalties by 12.9% during the 2nd quarter. State of Tennessee Department of Treasury now owns 303,360 shares of the basic materials company’s stock worth $7,781,000 after buying an additional 34,700 shares during the period. 68.52% of the stock is owned by institutional investors and hedge funds.

OR 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.