Rhumbline Advisers Cuts Holdings in OR Royalties Inc. (NYSE:OR)

Rhumbline Advisers cut its holdings in OR Royalties Inc. (NYSE:OR) by 7.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,423 shares of the basic materials company’s stock after selling 1,129 shares during the period. Rhumbline Advisers’ holdings in OR Royalties were worth $305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in OR Royalties in the 4th quarter valued at $57,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in OR Royalties in the 4th quarter valued at approximately $72,000. Northwest & Ethical Investments L.P. raised its position in shares of OR Royalties by 11.0% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 6,292 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 626 shares during the last quarter. Employees Retirement System of Texas acquired a new position in shares of OR Royalties in the fourth quarter worth $131,000. Finally, Franklin Resources Inc. raised its holdings in shares of OR Royalties by 4.5% in the fourth quarter. Franklin Resources Inc. now owns 12,282 shares of the basic materials company’s stock worth $222,000 after acquiring an additional 534 shares during the last quarter. 68.52% of the stock is currently owned by institutional investors and hedge funds.

OR Royalties Price Performance

NYSE OR opened at $25.49 on Wednesday. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 149.92 and a beta of 0.76. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $24.69 and a two-hundred day moving average price of $21.20. OR Royalties Inc. has a 52 week low of $15.12 and a 52 week high of $27.60.

OR Royalties (NYSE:OR) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. OR Royalties had a net margin of 15.28% and a return on equity of 8.66%. The firm had revenue of $54.92 million for the quarter, compared to analysts’ expectations of $79.63 million. Analysts forecast that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, June 30th. This is a boost from OR Royalties’s previous quarterly dividend of $0.05. OR Royalties’s dividend payout ratio (DPR) is 105.88%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Scotiabank raised shares of OR Royalties from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $22.00 to $24.00 in a research note on Monday, April 14th. Royal Bank Of Canada decreased their price target on OR Royalties from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, April 4th. National Bankshares restated an “outperform” rating on shares of OR Royalties in a research note on Wednesday, April 23rd. Wall Street Zen raised OR Royalties from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Finally, Raymond James Financial reissued an “outperform” rating on shares of OR Royalties in a report on Friday, April 4th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, OR Royalties presently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

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.