OR Royalties (NYSE:OR) Share Price Crosses Above 50-Day Moving Average – What’s Next?

OR Royalties Inc. (NYSE:OR) shares crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $35.12 and traded as high as $35.72. OR Royalties shares last traded at $35.1550, with a volume of 848,719 shares.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on OR shares. Scotiabank dropped their target price on shares of OR Royalties from $51.00 to $42.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Weiss Ratings raised OR Royalties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 29th. Royal Bank Of Canada boosted their price target on OR Royalties from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Finally, Zacks Research upgraded OR Royalties from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $41.00.

OR Royalties Stock Up 2.9%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.28 and a current ratio of 2.28. The firm’s 50-day moving average is $35.07 and its 200 day moving average is $36.52. The firm has a market capitalization of $6.75 billion, a PE ratio of 28.75 and a beta of 0.76.

OR Royalties (NYSE:OR) last issued its quarterly earnings data on Wednesday, August 5th. 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 net margin of 78.04% and a return on equity of 16.41%. The firm had revenue of $97.82 million for the quarter, compared to analysts’ expectations of $97.93 million. As a group, research analysts forecast that OR Royalties Inc. will post 1.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of OR Royalties by 37.4% in the first quarter. Bank of America Corp DE now owns 1,008,086 shares of the basic materials company’s stock valued at $38,327,000 after buying an additional 274,486 shares during the last quarter. U S Global Investors Inc. lifted its stake in shares of OR Royalties by 55.8% during the first quarter. U S Global Investors Inc. now owns 534,625 shares of the basic materials company’s stock valued at $20,326,000 after buying an additional 191,380 shares during the period. Louisbourg Investments Inc. lifted its stake in shares of OR Royalties by 25.4% during the third quarter. Louisbourg Investments Inc. now owns 212,505 shares of the basic materials company’s stock valued at $7,309,000 after buying an additional 43,058 shares during the period. BTG Pactual Asset Management US LLC acquired a new stake in OR Royalties during the second quarter worth approximately $930,000. Finally, Bank of New York Mellon Corp acquired a new stake in OR Royalties during the second quarter worth approximately $1,572,000. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

About OR Royalties

OR Royalties Inc (NYSE: OR) is a precious and base metals royalty and streaming company. Rather than operating mines directly, the company provides financing to mining companies in exchange for the right to receive a portion of future production or revenue from qualifying mining projects. Its portfolio includes royalties, streams, offtake agreements and other interests tied primarily to gold, silver, copper and other metals.

The company was established in 2014 following the creation of Osisko Gold Royalties from the assets of Osisko Mining Corporation.