Scotiabank Brokers Increase Earnings Estimates for OR

Osisko Gold Royalties Ltd (NYSE:OR) – Research analysts at Scotiabank raised their FY2024 earnings per share (EPS) estimates for Osisko Gold Royalties in a report issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now forecasts that the basic materials company will post earnings of $0.49 per share for the year, up from their prior estimate of $0.48. The consensus estimate for Osisko Gold Royalties’ current full-year earnings is $0.48 per share.

Other research analysts also recently issued reports about the company. TD Securities downgraded Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. TD Cowen cut shares of Osisko Gold Royalties from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Jefferies Financial Group increased their price objective on shares of Osisko Gold Royalties from $19.00 to $22.00 and gave the company a “buy” rating in a report on Friday, October 4th.

Osisko Gold Royalties Stock Performance

Shares of OR stock opened at $18.59 on Friday. The company has a market capitalization of $3.47 billion, a P/E ratio of -88.52 and a beta of 1.02. The business’s 50 day moving average is $19.11 and its two-hundred day moving average is $18.26. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 0.05. Osisko Gold Royalties has a 12-month low of $12.77 and a 12-month high of $21.29.

Hedge Funds Weigh In On Osisko Gold Royalties

Several hedge funds and other institutional investors have recently modified their holdings of OR. Commonwealth Equity Services LLC lifted its position in Osisko Gold Royalties by 9.8% during the second quarter. Commonwealth Equity Services LLC now owns 39,178 shares of the basic materials company’s stock worth $610,000 after buying an additional 3,492 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Osisko Gold Royalties by 20.2% in the 2nd quarter. American Century Companies Inc. now owns 565,066 shares of the basic materials company’s stock worth $8,804,000 after acquiring an additional 95,000 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Osisko Gold Royalties by 12.9% during the 2nd quarter. Renaissance Technologies LLC now owns 239,800 shares of the basic materials company’s stock worth $3,736,000 after acquiring an additional 27,400 shares during the period. Moors & Cabot Inc. boosted its position in shares of Osisko Gold Royalties by 5.1% during the 2nd quarter. Moors & Cabot Inc. now owns 20,536 shares of the basic materials company’s stock valued at $320,000 after acquiring an additional 1,000 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Osisko Gold Royalties in the second quarter valued at about $294,000. 68.52% of the stock is owned by hedge funds and other institutional investors.

Osisko Gold Royalties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.048 dividend. This is an increase from Osisko Gold Royalties’s previous quarterly dividend of $0.05. This represents a $0.19 annualized dividend and a yield of 1.03%. The ex-dividend date is Tuesday, December 31st. Osisko Gold Royalties’s dividend payout ratio is currently -90.48%.

About Osisko Gold 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.