OR Royalties Inc. $OR Stock Position Trimmed by Picton Mahoney Asset Management

Picton Mahoney Asset Management trimmed its position in shares of OR Royalties Inc. (NYSE:OR) by 17.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,109,636 shares of the basic materials company’s stock after selling 664,674 shares during the period. OR Royalties accounts for approximately 1.1% of Picton Mahoney Asset Management’s holdings, making the stock its 14th biggest position. Picton Mahoney Asset Management’s holdings in OR Royalties were worth $124,609,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in shares of OR Royalties by 152.4% during 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 buying an additional 758,815 shares during the last quarter. C WorldWide Group Holding A S increased its position in OR Royalties by 34.5% in the 2nd quarter. C WorldWide Group Holding A S now owns 104,974 shares of the basic materials company’s stock valued at $2,699,000 after acquiring an additional 26,942 shares during the period. Geode Capital Management LLC raised its stake in OR Royalties by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 92,267 shares of the basic materials company’s stock valued at $2,384,000 after acquiring an additional 2,459 shares in the last quarter. SG Americas Securities LLC raised its stake in OR Royalties by 24.8% during the 2nd quarter. SG Americas Securities LLC now owns 45,845 shares of the basic materials company’s stock valued at $1,179,000 after acquiring an additional 9,100 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in OR Royalties by 3.5% during the 2nd quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock worth $337,000 after acquiring an additional 440 shares during the period. Institutional investors and hedge funds own 68.52% of the company’s stock.

Analyst Upgrades and Downgrades

OR has been the topic of a number of research analyst reports. Wall Street Zen lowered OR Royalties from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Scotiabank raised their target price on shares of OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Zacks Research upgraded shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $38.00 price objective on shares of OR Royalties in a report on Sunday, December 7th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of OR Royalties in a research note on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, OR Royalties currently has an average rating of “Moderate Buy” and a consensus target price of $38.25.

OR Royalties Trading Down 7.8%

Shares of OR Royalties stock opened at $44.03 on Wednesday. OR Royalties Inc. has a 52 week low of $17.61 and a 52 week high of $48.06. The stock has a market cap of $8.26 billion, a PE ratio of 40.39 and a beta of 0.75. The company’s 50-day moving average price is $41.40 and its two-hundred day moving average price is $37.07.

OR Royalties (NYSE:OR) last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.32 earnings per share for the quarter, beating 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 company had revenue of $90.47 million during the quarter, compared to analyst estimates of $90.80 million. On average, equities analysts predict that OR Royalties Inc. will post 0.62 EPS for the current fiscal year.

OR Royalties Announces Dividend

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

OR Royalties 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.