OR Royalties Inc. (NYSE:OR) Given Average Rating of “Hold” by Brokerages

OR Royalties Inc. (NYSE:OR) has been given an average rating of “Hold” by the nine ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $40.50.

Several brokerages have recently commented on OR. Wall Street Zen downgraded OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Jefferies Financial Group cut their target price on OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Weiss Ratings downgraded OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. Zacks Research cut OR Royalties from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Royal Bank Of Canada dropped their price target on OR Royalties from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th.

OR Royalties Stock Down 1.3%

Shares of OR stock opened at $38.42 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.28 and a quick ratio of 2.28. OR Royalties has a one year low of $27.54 and a one year high of $48.06. The company’s fifty day moving average price is $31.74 and its 200-day moving average price is $36.49. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 25.61 and a beta of 0.75.

OR Royalties (NYSE:OR) last issued its earnings results on Wednesday, August 5th. The basic materials company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. OR Royalties had a net margin of 78.04% and a return on equity of 16.41%. The company had revenue of $97.82 million during the quarter, compared to the consensus estimate of $97.93 million. Sell-side analysts expect that OR Royalties will post 1.25 EPS for the current fiscal year.

OR Royalties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 30th. OR Royalties’s payout ratio is 16.67%.

Hedge Funds Weigh In On OR Royalties

A number of hedge funds and other institutional investors have recently modified their holdings of OR. Goldman Sachs Group Inc. lifted its stake in OR Royalties by 152.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock worth $26,539,000 after purchasing an additional 758,815 shares in the last quarter. Geode Capital Management LLC grew its position in shares of OR Royalties by 2.7% during the second quarter. Geode Capital Management LLC now owns 92,267 shares of the basic materials company’s stock valued at $2,384,000 after purchasing an additional 2,459 shares in the last quarter. Cetera Investment Advisers grew its position in shares of OR Royalties by 3.5% during the second quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock valued at $337,000 after purchasing an additional 440 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of OR Royalties by 58.3% in the second quarter. JPMorgan Chase & Co. now owns 205,176 shares of the basic materials company’s stock worth $5,275,000 after purchasing an additional 75,596 shares during the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in shares of OR Royalties in the second quarter worth about $1,051,000. 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.