OR Royalties Inc. $OR Stock: Montrusco Bolton Investments Inc. Lowers Position

Montrusco Bolton Investments Inc. reduced its position in OR Royalties Inc. (NYSE:OR) by 20.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 188,675 shares of the basic materials company’s stock after selling 48,039 shares during the period. Montrusco Bolton Investments Inc.’s holdings in OR Royalties were worth $6,485,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of OR. Verbena Value LP raised its stake in shares of OR Royalties by 85.3% during the 1st 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. Renaissance Technologies LLC lifted its holdings in shares of 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 buying an additional 362,700 shares during the last quarter. Bank of America Corp DE grew its stake in shares of OR Royalties by 37.4% in the 1st quarter. Bank of America Corp DE now owns 1,008,086 shares of the basic materials company’s stock valued at $38,327,000 after buying an additional 274,486 shares in the last quarter. U S Global Investors Inc. grew its stake in shares of OR Royalties by 55.8% in the 1st quarter. U S Global Investors Inc. now owns 534,625 shares of the basic materials company’s stock valued at $20,326,000 after buying an additional 191,380 shares in the last quarter. Finally, SummitTX Capital L.P. bought a new stake in shares of OR Royalties in the 1st quarter valued at approximately $6,810,000. 68.52% of the stock is owned by institutional investors and hedge funds.

OR Royalties Stock Down 0.5%

Shares of OR traded down $0.17 during trading hours on Tuesday, hitting $34.51. 785,072 shares of the company were exchanged, compared to its average volume of 1,121,696. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.28 and a current ratio of 2.28. The company has a market cap of $6.43 billion, a PE ratio of 23.00 and a beta of 0.78. The firm’s 50 day moving average is $35.31 and its 200-day moving average is $35.07. OR Royalties Inc. has a 52 week low of $27.54 and a 52 week high of $48.06.

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 analysts’ consensus estimates of $0.31 by $0.01. OR Royalties had a return on equity of 16.41% and a net margin of 78.04%. The business had revenue of $97.82 million for the quarter, compared to the consensus estimate of $97.93 million. On average, equities research analysts forecast that OR Royalties Inc. will post 1.26 EPS for the current fiscal year.

OR Royalties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.0650 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.8%. OR Royalties’s dividend payout ratio (DPR) is currently 16.67%.

Wall Street Analyst Weigh In

OR has been the topic of a number of research reports. Scotiabank dropped their price objective on OR Royalties from $51.00 to $42.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Zacks Research upgraded shares of OR Royalties from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Weiss Ratings upgraded shares of OR Royalties from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Royal Bank Of Canada boosted their target price on shares of OR Royalties from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Finally, Jefferies Financial Group dropped their price target on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $41.00.

About OR Royalties

OR Royalties Inc is a precious-metals royalty and streaming company headquartered in Montreal, Quebec. The company provides financing to mining companies in exchange for the right to receive a portion of future production or revenue from mining projects, allowing it to gain exposure to mineral production without directly operating mines.

The company’s portfolio is primarily focused on gold and includes royalties, streams, offtakes and other interests in a range of development, construction and producing assets.