Renaissance Technologies LLC Purchases 362,700 Shares of OR Royalties Inc. $OR

Renaissance Technologies LLC grew its position in shares of OR Royalties Inc. (NYSE:OR) by 86.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 783,302 shares of the basic materials company’s stock after purchasing an additional 362,700 shares during the quarter. Renaissance Technologies LLC’s holdings in OR Royalties were worth $29,781,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in OR Royalties by 152.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock worth $26,539,000 after buying an additional 758,815 shares during the period. Geode Capital Management LLC increased its position in OR Royalties by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 92,267 shares of the basic materials company’s stock valued at $2,384,000 after acquiring an additional 2,459 shares during the period. Cetera Investment Advisers raised its stake in shares of OR Royalties by 3.5% during the second quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock valued at $337,000 after acquiring an additional 440 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of OR Royalties by 58.3% during the second quarter. JPMorgan Chase & Co. now owns 205,176 shares of the basic materials company’s stock valued at $5,275,000 after acquiring an additional 75,596 shares during the last quarter. Finally, Gamco Investors INC. ET AL bought a new position in shares of OR Royalties during the second quarter valued at $1,051,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

Analysts Set New Price Targets

OR has been the topic of several analyst reports. Royal Bank Of Canada reduced their price objective on shares of OR Royalties from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen downgraded OR Royalties from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Scotiabank reduced their price target on OR Royalties from $51.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Weiss Ratings cut OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Finally, Jefferies Financial Group lowered their price objective on OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $40.50.

OR Royalties Stock Down 0.3%

OR opened at $29.44 on Wednesday. OR Royalties Inc. has a twelve month low of $27.40 and a twelve month high of $48.06. The company has a fifty day moving average of $32.49 and a 200-day moving average of $37.74. The stock has a market cap of $5.51 billion, a PE ratio of 21.97 and a beta of 0.74.

OR Royalties (NYSE:OR) last released its earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. The business had revenue of $102.83 million for the quarter, compared to analyst estimates of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. Sell-side analysts anticipate that OR Royalties Inc. will post 1.27 EPS for the current fiscal year.

OR Royalties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.065 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.9%. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio (DPR) is presently 18.66%.

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.