OR Royalties Inc. (NYSE:OR) Receives $38.25 Consensus Price Target from Brokerages

OR Royalties Inc. (NYSE:OR) has received a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $38.25.

A number of equities research analysts have issued reports on OR shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of OR Royalties in a report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of OR Royalties in a research report on Monday, December 29th. Jefferies Financial Group reissued a “hold” rating and set a $38.00 price objective on shares of OR Royalties in a report on Sunday, December 7th. TD Securities restated a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Finally, Zacks Research upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Forge First Asset Management Inc. purchased a new position in OR Royalties during the second quarter worth about $2,385,000. Horizon Kinetics Asset Management LLC boosted its position in shares of OR Royalties by 6.7% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 1,817,501 shares of the basic materials company’s stock valued at $46,728,000 after acquiring an additional 114,464 shares during the last quarter. CWA Asset Management Group LLC grew its holdings in shares of OR Royalties by 112.6% during the third quarter. CWA Asset Management Group LLC now owns 381,747 shares of the basic materials company’s stock worth $15,300,000 after purchasing an additional 202,173 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of OR Royalties in the second quarter worth approximately $96,617,000. Finally, Synergy Asset Management LLC increased its position in shares of OR Royalties by 200.0% in the third quarter. Synergy Asset Management LLC now owns 52,851 shares of the basic materials company’s stock worth $2,118,000 after purchasing an additional 35,234 shares during the last quarter. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

OR Royalties Stock Performance

Shares of OR opened at $47.39 on Thursday. OR Royalties has a fifty-two week low of $17.55 and a fifty-two week high of $48.06. The business has a 50-day moving average of $41.05 and a 200 day moving average of $36.81. The firm has a market cap of $8.88 billion, a P/E ratio of 43.48 and a beta of 0.76.

OR Royalties (NYSE:OR) last posted its earnings results on Wednesday, February 18th. 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 74.30% and a return on equity of 12.73%. The firm had revenue of $90.47 million during the quarter, compared to the consensus estimate of $90.80 million. As a group, research analysts predict that OR Royalties will post 0.62 earnings per share for the current fiscal year.

OR Royalties Dividend Announcement

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

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.