OR Royalties (NYSE:OR) Reaches New 1-Year High – Still a Buy?

Shares of OR Royalties Inc. (NYSE:OR) hit a new 52-week high during trading on Monday . The company traded as high as $46.85 and last traded at $47.4680, with a volume of 114765 shares traded. The stock had previously closed at $45.20.

Analyst Ratings Changes

A number of research firms have issued reports on OR. Canaccord Genuity Group upgraded shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Jefferies Financial Group restated a “hold” rating and issued a $38.00 price objective on shares of OR Royalties in a report on Sunday, December 7th. Scotiabank reaffirmed a “sector perform” rating and set a $51.00 target price on shares of OR Royalties in a report on Monday. Raymond James Financial raised OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research note on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of OR Royalties in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.25.

OR Royalties Stock Up 3.5%

The stock has a market capitalization of $8.76 billion, a P/E ratio of 59.32 and a beta of 0.78. The company has a fifty day simple moving average of $36.60 and a two-hundred day simple moving average of $34.27.

OR Royalties (NYSE:OR) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. OR Royalties had a return on equity of 10.67% and a net margin of 60.72%.The company had revenue of $71.63 million for the quarter, compared to analyst estimates of $53.85 million. As a group, equities analysts forecast that OR Royalties Inc. will post 0.62 earnings per share for the current year.

OR Royalties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.055 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.22 dividend on an annualized basis and a yield of 0.5%. OR Royalties’s payout ratio is presently 27.85%.

Institutional Investors Weigh In On OR Royalties

Several large investors have recently made changes to their positions in the stock. PFG Investments LLC lifted its position in OR Royalties by 4.1% in the 4th quarter. PFG Investments LLC now owns 25,992 shares of the basic materials company’s stock valued at $920,000 after acquiring an additional 1,030 shares in the last quarter. SeaBridge Investment Advisors LLC raised its stake in shares of OR Royalties by 9.7% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 19,389 shares of the basic materials company’s stock valued at $686,000 after purchasing an additional 1,712 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of OR Royalties by 139.8% in the fourth quarter. Farther Finance Advisors LLC now owns 10,334 shares of the basic materials company’s stock valued at $366,000 after purchasing an additional 6,024 shares in the last quarter. Assetmark Inc. bought a new stake in shares of OR Royalties in the fourth quarter valued at about $36,000. Finally, Linden Thomas Advisory Services LLC boosted its position in shares of OR Royalties by 4.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,254 shares of the basic materials company’s stock worth $221,000 after buying an additional 249 shares during the period. Institutional investors own 68.52% of the company’s stock.

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.