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

Shares of OR Royalties Inc. (NYSE:OR) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $46.50.

Several analysts have recently issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $56.00 target price on shares of OR Royalties in a research report on Friday, April 10th. Zacks Research cut shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Wall Street Zen cut shares of OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, 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.

OR Royalties Stock Down 1.2%

OR opened at $31.60 on Wednesday. The firm has a 50-day simple moving average of $36.08 and a two-hundred day simple moving average of $38.69. OR Royalties has a 52 week low of $25.14 and a 52 week high of $48.06. The company has a market capitalization of $5.92 billion, a PE ratio of 23.58 and a beta of 0.70.

OR Royalties (NYSE:OR) last released its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.40 EPS 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 the consensus estimate of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. As a group, sell-side analysts expect that OR Royalties will post 1.4 earnings per share for the current year.

OR Royalties Increases Dividend

The firm 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 dividend of $0.065 per share. 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 positive change from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio is currently 16.42%.

Institutional Trading of OR Royalties

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in 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 worth $277,965,000 after purchasing an additional 167,970 shares during the period. Van ECK Associates Corp raised its position in OR Royalties by 20.5% in the 3rd quarter. Van ECK Associates Corp now owns 15,561,057 shares of the basic materials company’s stock worth $623,686,000 after purchasing an additional 2,650,333 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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. Manning & Napier Advisors LLC increased its position in shares of OR Royalties by 4.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 389,844 shares of the basic materials company’s stock worth $13,815,000 after acquiring an additional 15,730 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of OR Royalties by 6.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,887,800 shares of the basic materials company’s stock worth $75,647,000 after acquiring an additional 106,700 shares during the period. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

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.