OR Royalties (NYSE:OR) Shares Pass Below 50 Day Moving Average – Here’s What Happened

OR Royalties Inc. (NYSE:OR) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $38.03 and traded as low as $33.67. OR Royalties shares last traded at $33.8130, with a volume of 1,196,706 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently commented on OR shares. Zacks Research lowered OR Royalties from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. TD Securities restated a “hold” rating on shares of OR Royalties in a research report on Monday, February 23rd. Weiss Ratings restated a “buy (b)” rating on shares of OR Royalties in a research report on Friday, May 22nd. Wall Street Zen lowered OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $56.00 price target on shares of OR Royalties in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, OR Royalties presently has a consensus rating of “Moderate Buy” and an average target price of $46.50.

OR Royalties Stock Performance

The stock has a 50-day simple moving average of $38.03 and a 200 day simple moving average of $38.69. The stock has a market capitalization of $6.34 billion, a P/E ratio of 25.23 and a beta of 0.70.

OR Royalties (NYSE:OR) last posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $102.83 million for the quarter, compared to the consensus estimate of $103.27 million. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%. Equities analysts predict that OR Royalties Inc. will post 1.4 earnings per share for the current year.

OR Royalties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.065 dividend. This is an increase from OR Royalties’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, June 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 16.42%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OR. Van ECK Associates Corp lifted its stake in shares of OR Royalties by 20.5% in the 3rd quarter. Van ECK Associates Corp now owns 15,561,057 shares of the basic materials company’s stock valued at $623,686,000 after purchasing an additional 2,650,333 shares during the period. Norges Bank acquired a new position in shares of OR Royalties in the 4th quarter valued at $88,597,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of OR Royalties by 39.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,543,667 shares of the basic materials company’s stock valued at $302,419,000 after purchasing an additional 2,124,421 shares during the period. Elliott Investment Management L.P. lifted its stake in shares of OR Royalties by 42.7% in the 4th quarter. Elliott Investment Management L.P. now owns 3,111,000 shares of the basic materials company’s stock valued at $110,098,000 after purchasing an additional 930,849 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of OR Royalties by 152.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock valued at $26,539,000 after purchasing an additional 758,815 shares during the period. Institutional investors and hedge funds own 68.52% of the company’s stock.

About OR Royalties

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.