Van ECK Associates Corp Cuts Holdings in OR Royalties Inc. $OR

Van ECK Associates Corp decreased its holdings in OR Royalties Inc. (NYSE:OR) by 21.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,265,520 shares of the basic materials company’s stock after selling 3,295,537 shares during the period. Van ECK Associates Corp owned approximately 6.54% of OR Royalties worth $434,081,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of OR Royalties by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 7,847,015 shares of the basic materials company’s stock valued at $277,965,000 after purchasing an additional 167,970 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of OR Royalties by 6.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,887,800 shares of the basic materials company’s stock valued at $75,647,000 after purchasing an additional 106,700 shares in the last quarter. Manning & Napier Advisors LLC boosted its stake in shares of OR Royalties by 4.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 389,844 shares of the basic materials company’s stock valued at $13,815,000 after purchasing an additional 15,730 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of OR Royalties in the 3rd quarter valued at $2,458,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.

OR Royalties Stock Up 3.3%

Shares of OR opened at $33.83 on Friday. The stock has a market capitalization of $6.34 billion, a P/E ratio of 25.24 and a beta of 0.70. The firm has a fifty day simple moving average of $37.67 and a two-hundred day simple moving average of $38.71. OR Royalties Inc. has a twelve month low of $24.76 and a twelve month high of $48.06.

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

OR Royalties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.26 annualized dividend and a dividend yield of 0.8%. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio is 16.42%.

Analyst Upgrades and Downgrades

OR has been the subject of a number of research reports. TD Securities reaffirmed a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $56.00 price objective on shares of OR Royalties in a research note on Friday, April 10th. Wall Street Zen cut shares of OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings cut shares of OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 4th. Finally, Zacks Research cut shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, OR Royalties has an average rating of “Moderate Buy” and a consensus price target of $46.50.

OR Royalties 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.