OR Royalties (NYSE:OR) Cut to Hold at Canaccord Genuity Group

OR Royalties (NYSE:OR) was downgraded by equities researchers at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other analysts have also recently issued reports on the company. Raymond James Financial increased their price objective on OR Royalties from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. National Bankshares reissued an “outperform” rating on shares of OR Royalties in a report on Tuesday, June 24th. Scotiabank increased their price objective on OR Royalties from $26.00 to $28.00 and gave the stock a “sector outperform” rating in a report on Monday, July 7th. CIBC restated an “outperform” rating on shares of OR Royalties in a research note on Tuesday, July 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of OR Royalties in a research note on Saturday, September 27th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $29.00.

OR Royalties Stock Performance

Shares of OR opened at $39.41 on Thursday. The stock’s 50-day simple moving average is $33.19 and its 200 day simple moving average is $27.37. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 106.51 and a beta of 0.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.73 and a current ratio of 4.73. OR Royalties has a 52-week low of $17.55 and a 52-week high of $41.05.

OR Royalties (NYSE:OR) last issued its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The company had revenue of $60.36 million for the quarter, compared to analysts’ expectations of $83.25 million. OR Royalties had a return on equity of 8.56% and a net margin of 35.25%. Research analysts forecast that OR Royalties will post 0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On OR Royalties

Several institutional investors have recently modified their holdings of OR. Plato Investment Management Ltd bought a new position in shares of OR Royalties during the 1st quarter valued at about $56,000. Summit Securities Group LLC bought a new position in shares of OR Royalties during the 1st quarter valued at about $62,000. Hsbc Holdings PLC bought a new position in shares of OR Royalties during the 1st quarter valued at about $208,000. Autumn Glory Partners LLC bought a new position in shares of OR Royalties during the 1st quarter valued at about $232,000. Finally, Twin Tree Management LP bought a new position in shares of OR Royalties during the 2nd quarter valued at about $245,000. 68.52% of the stock is currently owned by institutional investors.

About OR 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.