OR Royalties Inc. $OR Stake Boosted by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its stake in shares of OR Royalties Inc. (NYSE:OR) by 145.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 157,044 shares of the basic materials company’s stock after buying an additional 93,128 shares during the period. Y Intercept Hong Kong Ltd owned about 0.08% of OR Royalties worth $5,971,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp boosted its holdings in shares of OR Royalties by 20.5% in the third quarter. Van ECK Associates Corp now owns 15,561,057 shares of the basic materials company’s stock worth $623,686,000 after buying an additional 2,650,333 shares during the period. Vanguard Group Inc. raised its holdings in shares of OR Royalties by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 7,847,015 shares of the basic materials company’s stock valued at $277,965,000 after acquiring an additional 167,970 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of OR Royalties by 39.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,543,667 shares of the basic materials company’s stock valued at $302,419,000 after acquiring an additional 2,124,421 shares in the last quarter. Picton Mahoney Asset Management lifted its position in shares of OR Royalties by 1.6% in the 4th quarter. Picton Mahoney Asset Management now owns 3,160,518 shares of the basic materials company’s stock valued at $112,114,000 after acquiring an additional 50,882 shares in the last quarter. Finally, Elliott Investment Management L.P. boosted its stake in OR Royalties by 42.7% in the 4th quarter. Elliott Investment Management L.P. now owns 3,111,000 shares of the basic materials company’s stock worth $110,098,000 after purchasing an additional 930,849 shares during the period. 68.52% of the stock is owned by hedge funds and other institutional investors.

OR Royalties Price Performance

NYSE OR opened at $31.31 on Friday. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 23.36 and a beta of 0.74. The company has a 50 day simple moving average of $35.50 and a 200-day simple moving average of $38.58. OR Royalties Inc. has a 52-week low of $25.30 and a 52-week high of $48.06.

OR Royalties (NYSE:OR) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $102.83 million for the quarter, compared to the consensus estimate of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. On average, analysts predict that OR Royalties Inc. will post 1.4 EPS for the current year.

OR Royalties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.065 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.26 annualized dividend and a dividend yield of 0.8%. This is an increase from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio is presently 19.40%.

Analysts Set New Price Targets

OR has been the topic of several research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $56.00 price objective on shares of OR Royalties in a research report on Friday, April 10th. Zacks Research lowered OR Royalties from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Wall Street Zen cut OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings downgraded OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

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.