OR Royalties (NYSE:OR) Trading Up 7% After Analyst Upgrade

Shares of OR Royalties Inc. (NYSE:OR) shot up 7% during mid-day trading on Tuesday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The stock traded as high as $43.85 and last traded at $44.0910. 242,219 shares changed hands during trading, a decline of 83% from the average session volume of 1,408,696 shares. The stock had previously closed at $41.20.

A number of other analysts have also recently issued reports on the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $38.00 price objective on shares of OR Royalties in a research report on Sunday, December 7th. Raymond James Financial upgraded OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OR Royalties in a research report on Monday, December 29th. Scotiabank lowered shares of OR Royalties from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $33.00 to $41.00 in a research report on Thursday, October 23rd. Finally, Canaccord Genuity Group raised shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, OR Royalties has a consensus rating of “Moderate Buy” and an average price target of $35.75.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC increased its stake in shares of OR Royalties by 4.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 6,254 shares of the basic materials company’s stock valued at $221,000 after purchasing an additional 249 shares during the last quarter. Euro Pacific Asset Management LLC boosted its stake in OR Royalties by 0.7% in the fourth quarter. Euro Pacific Asset Management LLC now owns 1,028,079 shares of the basic materials company’s stock valued at $36,088,000 after buying an additional 7,579 shares in the last quarter. New England Professional Planning Group Inc. bought a new position in OR Royalties in the fourth quarter valued at about $229,000. CWA Asset Management Group LLC raised its stake in OR Royalties by 7.1% during the fourth quarter. CWA Asset Management Group LLC now owns 408,918 shares of the basic materials company’s stock worth $14,472,000 after acquiring an additional 27,171 shares in the last quarter. Finally, Swiss Life Asset Management Ltd bought a new position in shares of OR Royalties in the third quarter worth about $355,000. 68.52% of the stock is owned by institutional investors.

OR Royalties Trading Down 1.0%

The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 54.86 and a beta of 0.78. The business’s 50 day moving average price is $36.10 and its two-hundred day moving average price is $33.95.

OR Royalties (NYSE:OR) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. OR Royalties had a net margin of 60.72% and a return on equity of 10.67%. The business had revenue of $71.63 million during the quarter, compared to analysts’ expectations of $53.85 million. Analysts expect that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.055 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.22 annualized dividend and a dividend yield of 0.5%. OR Royalties’s dividend payout ratio (DPR) is 27.85%.

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.