OR Royalties (NYSE:OR) Rating Lowered to Hold at Canaccord Genuity Group

Canaccord Genuity Group cut shares of OR Royalties (NYSE:OR) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

A number of other analysts also recently weighed in on OR. National Bankshares restated an “outperform” rating on shares of OR Royalties in a report on Tuesday, June 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of OR Royalties in a research report on Saturday, September 27th. Raymond James Financial increased their price target on OR Royalties from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Wall Street Zen raised OR Royalties from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, CIBC reissued an “outperform” rating on shares of OR Royalties in a research report on Tuesday, July 15th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

OR Royalties Stock Down 0.7%

Shares of NYSE OR opened at $39.41 on Thursday. The company has a 50 day simple moving average of $33.19 and a 200 day simple moving average of $27.37. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.73 and a quick ratio of 4.73. OR Royalties has a 1 year low of $17.55 and a 1 year high of $41.05. The firm has a market cap of $7.42 billion, a PE ratio of 106.51 and a beta of 0.75.

OR Royalties (NYSE:OR) last announced its quarterly earnings results on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). The business had revenue of $60.36 million during the quarter, compared to analyst estimates of $83.25 million. OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. On average, research analysts forecast that OR Royalties will post 0.62 EPS for the current year.

OR Royalties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 30th. OR Royalties’s dividend payout ratio is presently 59.46%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers boosted its holdings in OR Royalties by 3.5% in the second quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock worth $337,000 after acquiring an additional 440 shares in the last quarter. PFG Investments LLC lifted its holdings in shares of OR Royalties by 2.5% in the 1st quarter. PFG Investments LLC now owns 25,409 shares of the basic materials company’s stock worth $537,000 after purchasing an additional 613 shares in the last quarter. Vident Advisory LLC lifted its holdings in shares of OR Royalties by 2.0% in the 2nd quarter. Vident Advisory LLC now owns 42,349 shares of the basic materials company’s stock worth $1,089,000 after purchasing an additional 820 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in OR Royalties by 0.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 283,500 shares of the basic materials company’s stock valued at $7,291,000 after purchasing an additional 1,500 shares during the period. Finally, SeaBridge Investment Advisors LLC increased its stake in OR Royalties by 14.8% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 15,500 shares of the basic materials company’s stock valued at $327,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

About OR Royalties

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.