OR Royalties Inc. (NYSE:OR) Receives Consensus Rating of “Hold” from Analysts

OR Royalties Inc. (NYSE:OR) has earned a consensus rating of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $40.50.

A number of research firms recently weighed in on OR. Zacks Research cut OR Royalties from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Weiss Ratings cut shares of OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Royal Bank Of Canada decreased their price objective on shares of OR Royalties from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Wall Street Zen cut shares of OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Jefferies Financial Group reduced their target price on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a report on Monday, July 6th.

OR Royalties Stock Up 0.4%

Shares of NYSE OR opened at $29.17 on Friday. The business’s 50 day moving average price is $32.75 and its two-hundred day moving average price is $37.84. The company has a market cap of $5.46 billion, a PE ratio of 21.77 and a beta of 0.74. OR Royalties has a twelve month low of $27.40 and a twelve month high of $48.06.

OR Royalties (NYSE:OR) last released its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%.The company had revenue of $102.83 million during the quarter, compared to analysts’ expectations of $103.27 million. As a group, research analysts anticipate that OR Royalties will post 1.27 EPS for the current fiscal year.

OR Royalties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 0.9%. This is a boost from OR Royalties’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, June 30th. OR Royalties’s dividend payout ratio (DPR) is 18.66%.

Hedge Funds Weigh In On OR Royalties

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in OR Royalties during the fourth quarter worth about $88,597,000. Elliott Investment Management L.P. boosted its holdings in OR Royalties by 42.7% in the 4th quarter. Elliott Investment Management L.P. now owns 3,111,000 shares of the basic materials company’s stock valued at $110,098,000 after purchasing an additional 930,849 shares during the period. Goldman Sachs Group Inc. boosted its holdings in OR Royalties by 152.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock valued at $26,539,000 after purchasing an additional 758,815 shares during the period. Invesco Ltd. grew its position in shares of OR Royalties by 85.3% during the 3rd quarter. Invesco Ltd. now owns 1,543,366 shares of the basic materials company’s stock worth $61,858,000 after purchasing an additional 710,654 shares in the last quarter. Finally, Verbena Value LP acquired a new position in shares of OR Royalties during the 4th quarter worth approximately $24,734,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

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.