Osisko Gold Royalties (NYSE:OR) Given New $24.00 Price Target at Royal Bank of Canada

Osisko Gold Royalties (NYSE:OR) had its price target boosted by Royal Bank of Canada from $23.00 to $24.00 in a research report released on Tuesday,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the basic materials company’s stock.

Other equities research analysts also recently issued research reports about the company. TD Cowen downgraded Osisko Gold Royalties from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. TD Securities cut Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th.

Osisko Gold Royalties Stock Performance

Osisko Gold Royalties stock opened at $19.76 on Tuesday. The firm’s 50 day simple moving average is $18.83 and its 200 day simple moving average is $18.64. 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 1-year low of $12.77 and a 1-year high of $21.29. The firm has a market capitalization of $3.69 billion, a PE ratio of -94.07 and a beta of 1.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OR. SBI Securities Co. Ltd. bought a new stake in shares of Osisko Gold Royalties in the 4th quarter worth approximately $57,000. Capital Performance Advisors LLP purchased a new position in Osisko Gold Royalties in the 3rd quarter worth $58,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Osisko Gold Royalties in the fourth quarter worth $72,000. Northwest & Ethical Investments L.P. boosted its position in Osisko Gold Royalties by 11.0% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,292 shares of the basic materials company’s stock valued at $114,000 after buying an additional 626 shares during the period. Finally, Icon Wealth Advisors LLC bought a new position in shares of Osisko Gold Royalties during the third quarter valued at about $187,000. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

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.