Van ECK Associates Corp Has $623.69 Million Position in OR Royalties Inc. $OR

Van ECK Associates Corp boosted its stake in OR Royalties Inc. (NYSE:OR) by 20.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,561,057 shares of the basic materials company’s stock after purchasing an additional 2,650,333 shares during the quarter. Van ECK Associates Corp owned about 8.27% of OR Royalties worth $623,686,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Picton Mahoney Asset Management acquired a new stake in shares of OR Royalties in the 2nd quarter valued at about $96,617,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in OR Royalties by 43.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,419,246 shares of the basic materials company’s stock worth $139,006,000 after acquiring an additional 1,648,567 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in OR Royalties in the third quarter worth approximately $41,210,000. Goldman Sachs Group Inc. grew its stake in OR Royalties by 152.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock valued at $26,539,000 after acquiring an additional 758,815 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new stake in OR Royalties in the third quarter valued at approximately $14,998,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

OR Royalties Stock Up 0.6%

Shares of NYSE:OR opened at $43.36 on Tuesday. The business’s 50 day moving average is $41.92 and its 200 day moving average is $37.43. OR Royalties Inc. has a 12-month low of $17.61 and a 12-month high of $48.06. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 39.78 and a beta of 0.75.

OR Royalties (NYSE:OR) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. OR Royalties had a return on equity of 12.73% and a net margin of 74.30%.The business had revenue of $90.47 million during the quarter, compared to analyst estimates of $90.80 million. As a group, equities research analysts expect that OR Royalties Inc. will post 0.62 earnings per share for the current year.

OR Royalties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, March 31st. OR Royalties’s payout ratio is presently 20.18%.

Wall Street Analyst Weigh In

OR has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OR Royalties in a research report on Monday, December 29th. TD Securities restated a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Wall Street Zen downgraded shares of OR Royalties from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of OR Royalties in a research note on Wednesday, February 4th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $38.00 price objective on shares of OR Royalties in a report on Sunday, December 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.25.

OR Royalties Company Profile

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.