Intact Investment Management Inc. Takes Position in OR Royalties Inc. (NYSE:OR)

Intact Investment Management Inc. acquired a new position in shares of OR Royalties Inc. (NYSE:OR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 73,000 shares of the basic materials company’s stock, valued at approximately $1,541,000.

Several other institutional investors and hedge funds have also modified their holdings of OR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of OR Royalties during the 4th quarter worth $60,364,000. Arrowstreet Capital Limited Partnership lifted its position in shares of OR Royalties by 352.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,099,521 shares of the basic materials company’s stock worth $74,160,000 after buying an additional 3,194,173 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of OR Royalties during the 4th quarter worth $34,209,000. FMR LLC lifted its position in shares of OR Royalties by 25.2% during the 4th quarter. FMR LLC now owns 5,613,898 shares of the basic materials company’s stock worth $101,659,000 after buying an additional 1,128,969 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of OR Royalties during the 4th quarter worth $11,683,000. 68.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wall Street Zen upgraded OR Royalties from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. National Bankshares reaffirmed an “outperform” rating on shares of OR Royalties in a report on Wednesday, April 23rd. Royal Bank Of Canada lowered their target price on OR Royalties from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, April 4th. Scotiabank raised OR Royalties from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $22.00 to $24.00 in a report on Monday, April 14th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of OR Royalties in a report on Friday, April 4th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

OR Royalties Trading Down 0.9%

Shares of OR stock opened at $25.75 on Friday. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 151.49 and a beta of 0.76. The stock has a 50-day moving average of $24.58 and a 200-day moving average of $21.11. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 0.06. OR Royalties Inc. has a 1-year low of $15.12 and a 1-year high of $27.60.

OR Royalties (NYSE:OR) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The company had revenue of $54.92 million during the quarter, compared to analysts’ expectations of $79.63 million. OR Royalties had a return on equity of 8.66% and a net margin of 15.28%. On average, equities research analysts forecast that OR Royalties Inc. will post 0.62 earnings per share for the current year.

OR Royalties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.055 dividend. This is a boost from OR Royalties’s previous quarterly dividend of $0.05. The ex-dividend date is Monday, June 30th. This represents a $0.22 annualized dividend and a dividend yield of 0.85%. OR Royalties’s dividend payout ratio is presently 105.88%.

OR Royalties Company Profile

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.