Osisko Gold Royalties (NYSE:OR) Given New $23.00 Price Target at Royal Bank of Canada

Osisko Gold Royalties (NYSE:OR) had its target price trimmed by Royal Bank of Canada from $24.00 to $23.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the basic materials company’s stock.

Separately, Scotiabank cut their price objective on shares of Osisko Gold Royalties from $31.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.33.

Osisko Gold Royalties Stock Performance

Shares of NYSE:OR opened at $19.83 on Friday. The firm has a 50 day moving average of $19.49 and a 200 day moving average of $19.28. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 220.37 and a beta of 0.88. Osisko Gold Royalties has a 52 week low of $15.12 and a 52 week high of $21.42.

Osisko Gold Royalties (NYSE:OR) last released its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Osisko Gold Royalties had a return on equity of 7.94% and a net margin of 8.50%. The firm had revenue of $56.74 million during the quarter, compared to analyst estimates of $68.31 million. On average, sell-side analysts predict that Osisko Gold Royalties will post 0.62 earnings per share for the current fiscal year.

Osisko Gold Royalties Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.0457 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Monday, March 31st. Osisko Gold Royalties’s dividend payout ratio (DPR) is presently 200.00%.

Hedge Funds Weigh In On Osisko Gold Royalties

Hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new stake in Osisko Gold Royalties during the 4th quarter worth approximately $57,000. Polar Asset Management Partners Inc. acquired a new position in shares of Osisko Gold Royalties in the 3rd quarter valued at $746,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Osisko Gold Royalties by 45.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 420,462 shares of the basic materials company’s stock worth $7,783,000 after acquiring an additional 131,558 shares during the last quarter. Anson Funds Management LP grew its stake in Osisko Gold Royalties by 64.3% during the 3rd quarter. Anson Funds Management LP now owns 217,700 shares of the basic materials company’s stock valued at $4,032,000 after purchasing an additional 85,200 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in Osisko Gold Royalties by 21.6% during the 4th quarter. CIBC Asset Management Inc now owns 3,111,398 shares of the basic materials company’s stock valued at $56,215,000 after purchasing an additional 551,936 shares during the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

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.