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

OR Royalties (NYSE:OR) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

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

OR Royalties Stock Up 0.0%

OR Royalties stock opened at $35.54 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.28 and a current ratio of 2.28. OR Royalties has a one year low of $27.54 and a one year high of $48.06. The company has a 50-day simple moving average of $33.05 and a 200-day simple moving average of $35.87. 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 (NYSE:OR) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.32 earnings per share 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 the consensus estimate of $97.93 million. OR Royalties had a net margin of 78.04% and a return on equity of 16.41%. As a group, equities analysts expect that OR Royalties will post 1.25 earnings per share for the current year.

Institutional Trading of OR Royalties

A number of institutional investors have recently made changes to their positions in OR. Norges Bank acquired a new position in shares of OR Royalties during the fourth quarter valued at approximately $88,597,000. Verbena Value LP raised its holdings in OR Royalties by 85.3% during the first 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. Amundi lifted its position in OR Royalties by 8.4% in the first quarter. Amundi now owns 1,151,071 shares of the basic materials company’s stock worth $43,764,000 after purchasing an additional 89,202 shares during the period. Bank of America Corp DE lifted its position in OR Royalties by 37.4% in the first quarter. Bank of America Corp DE now owns 1,008,086 shares of the basic materials company’s stock worth $38,327,000 after purchasing an additional 274,486 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in OR Royalties by 86.2% during 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 in the last quarter. 68.52% of the stock is 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.