OR Royalties Inc. (NYSE:OR) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of OR Royalties Inc. (NYSE:OR) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $46.50.

A number of brokerages have issued reports on OR. Royal Bank Of Canada reiterated an “outperform” rating and set a $56.00 price objective on shares of OR Royalties in a research note on Friday, April 10th. Wall Street Zen downgraded shares of OR Royalties from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 11th. TD Securities reissued a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Zacks Research downgraded OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Scotiabank boosted their target price on OR Royalties from $41.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th.

OR Royalties Stock Up 3.8%

Shares of OR Royalties stock opened at $39.89 on Tuesday. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 29.77 and a beta of 0.71. OR Royalties has a 12-month low of $22.40 and a 12-month high of $48.06. The firm’s 50-day moving average price is $39.58 and its two-hundred day moving average price is $38.19.

OR Royalties (NYSE:OR) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $102.83 million for the quarter, compared to the consensus estimate of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. On average, sell-side analysts expect that OR Royalties will post 1.38 earnings per share for the current year.

OR Royalties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a yield of 0.7%. OR Royalties’s payout ratio is presently 16.42%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. acquired a new position in OR Royalties during the third quarter worth about $2,649,000. Navellier & Associates Inc. acquired a new position in OR Royalties during the third quarter worth about $1,451,000. Massachusetts Financial Services Co. MA acquired a new position in OR Royalties during the third quarter worth about $41,210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in OR Royalties by 39.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,543,667 shares of the basic materials company’s stock worth $302,419,000 after acquiring an additional 2,124,421 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in OR Royalties by 6.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,887,800 shares of the basic materials company’s stock worth $75,647,000 after acquiring an additional 106,700 shares in the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

OR Royalties Company 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.