Principal Financial Group Inc. Sells 38,000 Shares of OR Royalties Inc. $OR

Principal Financial Group Inc. cut its holdings in shares of OR Royalties Inc. (NYSE:OR) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,117,810 shares of the basic materials company’s stock after selling 38,000 shares during the period. Principal Financial Group Inc. owned about 0.59% of OR Royalties worth $44,812,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Forge First Asset Management Inc. bought a new position in shares of OR Royalties in the second quarter worth about $2,385,000. CWA Asset Management Group LLC increased its position in OR Royalties by 112.6% during the 3rd quarter. CWA Asset Management Group LLC now owns 381,747 shares of the basic materials company’s stock worth $15,300,000 after purchasing an additional 202,173 shares in the last quarter. Synergy Asset Management LLC lifted its stake in OR Royalties by 200.0% in the 3rd quarter. Synergy Asset Management LLC now owns 52,851 shares of the basic materials company’s stock valued at $2,118,000 after purchasing an additional 35,234 shares during the last quarter. U S Global Investors Inc. lifted its stake in OR Royalties by 62.0% in the 3rd quarter. U S Global Investors Inc. now owns 931,076 shares of the basic materials company’s stock valued at $37,312,000 after purchasing an additional 356,245 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC boosted its position in OR Royalties by 6.7% in the second quarter. Horizon Kinetics Asset Management LLC now owns 1,817,501 shares of the basic materials company’s stock valued at $46,728,000 after buying an additional 114,464 shares in the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

OR Royalties Trading Up 2.0%

Shares of OR stock opened at $41.10 on Thursday. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 52.03 and a beta of 0.76. The stock has a 50-day moving average of $38.21 and a 200-day moving average of $35.09. OR Royalties Inc. has a 1-year low of $17.55 and a 1-year high of $47.75.

OR Royalties (NYSE:OR) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The company had revenue of $71.63 million for the quarter, compared to analyst estimates of $53.85 million. OR Royalties had a return on equity of 10.67% and a net margin of 60.72%. Sell-side analysts forecast that OR Royalties Inc. will post 0.62 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on OR. Scotiabank increased their price target on OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of OR Royalties in a research report on Monday, December 29th. CIBC reissued an “outperform” rating on shares of OR Royalties in a research note on Wednesday. Jefferies Financial Group restated a “hold” rating and set a $38.00 price target on shares of OR Royalties in a report on Sunday, December 7th. Finally, Wall Street Zen upgraded shares of OR Royalties from a “buy” rating to a “strong-buy” rating in a report on Monday, January 19th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, OR Royalties currently has an average rating of “Moderate Buy” and a consensus target price of $38.25.

OR Royalties Profile

OR Royalties PLC (NYSE: OR) is a closed-ended investment company that specializes in acquiring and managing royalty interests in life science and pharmaceutical products. The company provides capital to biotechnology, specialty pharmaceutical and medical device companies in exchange for a share of future sales revenues. By focusing on royalties secured against marketed products, OR Royalties aims to deliver income and growth potential while minimizing the development and commercialization risks typically associated with direct equity stakes.

The company’s core activities include sourcing royalty transactions, structuring bespoke financing solutions and actively monitoring a diversified portfolio of assets.