OR Royalties Inc. (NYSE:OR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of OR Royalties Inc. (NYSE:OR) have received an average rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $46.50.

Several equities research analysts have weighed in on the stock. TD Securities reiterated a “hold” rating on shares of OR Royalties in a report on Monday, February 23rd. Zacks Research cut shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Weiss Ratings cut shares of OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 4th. Royal Bank Of Canada restated an “outperform” rating and issued a $56.00 price objective on shares of OR Royalties in a research report on Friday, April 10th. Finally, Wall Street Zen cut shares of OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th.

Hedge Funds Weigh In On OR Royalties

Several institutional investors and hedge funds have recently modified their holdings of OR. Alps Advisors Inc. acquired a new stake in shares of OR Royalties during the third quarter worth $2,649,000. Navellier & Associates Inc. acquired a new stake in shares of OR Royalties during the third quarter worth $1,451,000. Vanguard Group Inc. raised its holdings in shares of OR Royalties by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 7,847,015 shares of the basic materials company’s stock worth $277,965,000 after acquiring an additional 167,970 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of OR Royalties by 39.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,543,667 shares of the basic materials company’s stock worth $302,419,000 after acquiring an additional 2,124,421 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of OR Royalties by 20.5% during the third quarter. Van ECK Associates Corp now owns 15,561,057 shares of the basic materials company’s stock worth $623,686,000 after acquiring an additional 2,650,333 shares during the period. 68.52% of the stock is currently owned by institutional investors and hedge funds.

OR Royalties Trading Down 4.9%

OR Royalties stock opened at $31.41 on Friday. The firm has a market capitalization of $5.89 billion, a P/E ratio of 23.44 and a beta of 0.70. The business has a 50-day moving average of $37.90 and a 200-day moving average of $38.74. OR Royalties has a 1 year low of $24.76 and a 1 year 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 analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $102.83 million for the quarter, compared to the consensus estimate of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. Research analysts anticipate that OR Royalties will post 1.4 EPS for the current fiscal year.

OR Royalties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.065 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.26 annualized dividend and a dividend yield of 0.8%. This is a boost from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s payout ratio is presently 18.66%.

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.