OR Royalties Inc. $OR Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of OR Royalties Inc. (NYSE:OR) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,887,800 shares of the basic materials company’s stock after purchasing an additional 106,700 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in OR Royalties were worth $75,647,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of OR. Caitlin John LLC purchased a new position in shares of OR Royalties in the third quarter worth $78,000. Eagle Global Advisors LLC acquired a new position in shares of OR Royalties in the 3rd quarter valued at $206,000. Merit Financial Group LLC purchased a new position in OR Royalties in the 3rd quarter worth $215,000. Envestnet Asset Management Inc. acquired a new stake in OR Royalties during the 3rd quarter worth about $228,000. Finally, Smith Salley Wealth Management acquired a new stake in OR Royalties during the 3rd quarter worth about $228,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

Wall Street Analyst Weigh In

OR has been the topic of a number of research reports. Jefferies Financial Group reissued a “hold” rating and issued a $38.00 price objective on shares of OR Royalties in a report on Sunday, December 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of OR Royalties in a report on Monday, December 29th. Scotiabank raised their price target on shares of OR Royalties from $41.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. TD Securities restated a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of OR Royalties in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, OR Royalties currently has a consensus rating of “Moderate Buy” and an average target price of $38.25.

OR Royalties Stock Down 1.6%

Shares of OR opened at $42.99 on Thursday. The company has a market capitalization of $8.06 billion, a price-to-earnings ratio of 39.44 and a beta of 0.75. OR Royalties Inc. has a 52 week low of $18.79 and a 52 week high of $48.06. The stock’s 50-day moving average price is $42.23 and its 200-day moving average price is $37.56.

OR Royalties (NYSE:OR) last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. OR Royalties had a return on equity of 12.73% and a net margin of 74.30%.The company had revenue of $90.47 million during the quarter, compared to analysts’ expectations of $90.80 million. As a group, equities analysts anticipate that OR Royalties Inc. will post 0.62 EPS for the current fiscal year.

OR Royalties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, March 31st. OR Royalties’s payout ratio is 20.18%.

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.