OR Royalties (NYSE:OR) Releases Earnings Results, Beats Expectations By $0.01 EPS

OR Royalties (NYSE:OR) posted its quarterly earnings data on Wednesday. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01, Zacks reports. OR Royalties had a net margin of 60.72% and a return on equity of 10.67%.

OR Royalties Trading Up 2.9%

OR stock traded up $1.21 during midday trading on Wednesday, hitting $43.52. The stock had a trading volume of 1,328,183 shares, compared to its average volume of 1,590,349. The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of 55.09 and a beta of 0.76. The stock has a 50-day simple moving average of $39.57 and a 200 day simple moving average of $36.02. OR Royalties has a 52 week low of $17.55 and a 52 week high of $47.75.

Hedge Funds Weigh In On OR Royalties

A number of hedge funds have recently modified their holdings of the stock. FIL Ltd bought a new position in shares of OR Royalties during the fourth quarter valued at $29,000. Merit Financial Group LLC acquired a new stake in shares of OR Royalties during the 3rd quarter worth about $215,000. Flow Traders U.S. LLC acquired a new stake in shares of OR Royalties during the 3rd quarter worth about $217,000. Moors & Cabot Inc. bought a new position in OR Royalties during the 3rd quarter valued at about $220,000. Finally, Envestnet Asset Management Inc. acquired a new position in OR Royalties in the third quarter valued at about $228,000. 68.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of OR Royalties from a “buy” rating to a “strong-buy” rating in a report on Monday, January 19th. Weiss Ratings restated a “buy (b)” rating on shares of OR Royalties in a research note on Monday, December 29th. Raymond James Financial raised OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a report on Thursday, November 6th. Zacks Research raised OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Finally, Canaccord Genuity Group raised OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, OR Royalties presently has an average rating of “Buy” and an average price target of $38.25.

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.