OR Royalties (NYSE:OR) Upgraded by Raymond James Financial to Outperform Rating

Raymond James Financial upgraded shares of OR Royalties (NYSE:OR) from a market perform rating to an outperform rating in a report issued on Thursday, Marketbeat.com reports. Raymond James Financial currently has $41.00 price objective on the basic materials company’s stock.

Several other analysts also recently commented on the company. Scotiabank downgraded OR Royalties from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $33.00 to $41.00 in a research note on Thursday, October 23rd. Wall Street Zen upgraded OR Royalties from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Canaccord Genuity Group upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. CIBC restated an “outperform” rating on shares of OR Royalties in a report on Tuesday, July 15th. Finally, Zacks Research raised shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.25.

OR Royalties Trading Up 2.9%

NYSE OR traded up $0.90 on Thursday, reaching $31.98. The company had a trading volume of 949,869 shares, compared to its average volume of 965,565. 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 has a 52 week low of $17.55 and a 52 week high of $42.25. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 86.44 and a beta of 0.72. The stock’s 50 day moving average is $35.81 and its 200-day moving average is $29.85.

OR Royalties (NYSE:OR) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. OR Royalties had a return on equity of 8.56% and a net margin of 35.25%.The company had revenue of $71.63 million during the quarter, compared to analysts’ expectations of $53.85 million. Equities analysts predict that OR Royalties will post 0.62 earnings per share for the current year.

OR Royalties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, December 31st. OR Royalties’s dividend payout ratio is currently 59.46%.

Institutional Trading of OR Royalties

A number of hedge funds have recently made changes to their positions in the stock. Plato Investment Management Ltd bought a new stake in shares of OR Royalties during the first quarter valued at approximately $56,000. Summit Securities Group LLC bought a new stake in shares of OR Royalties during the 1st quarter valued at $62,000. Eagle Global Advisors LLC bought a new stake in shares of OR Royalties during the 3rd quarter valued at $206,000. Merit Financial Group LLC purchased a new stake in shares of OR Royalties in the 3rd quarter worth about $215,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of OR Royalties in the 3rd quarter worth about $228,000. 68.52% of the stock is owned by institutional investors.

About OR Royalties

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.