Bank of Montreal Can Sells 212,214 Shares of OR Royalties Inc. $OR

Bank of Montreal Can decreased its holdings in OR Royalties Inc. (NYSE:OR) by 14.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,261,752 shares of the basic materials company’s stock after selling 212,214 shares during the quarter. Bank of Montreal Can’s holdings in OR Royalties were worth $32,451,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Plato Investment Management Ltd bought a new position in shares of OR Royalties during the 1st quarter worth approximately $56,000. Summit Securities Group LLC acquired a new stake in OR Royalties during the 1st quarter valued at $62,000. Hsbc Holdings PLC bought a new position in OR Royalties during the first quarter worth $208,000. Twin Tree Management LP bought a new position in OR Royalties during the second quarter worth $245,000. Finally, Trexquant Investment LP acquired a new position in shares of OR Royalties in the first quarter valued at $248,000. 68.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of OR Royalties in a research note on Wednesday, October 8th. Canaccord Genuity Group upgraded shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Jefferies Financial Group restated a “hold” rating and set a $40.00 price objective (up previously from $34.00) on shares of OR Royalties in a report on Monday, October 6th. Raymond James Financial upgraded OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a research note on Thursday. Finally, Zacks Research raised OR Royalties from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.25.

OR Royalties Stock Performance

Shares of NYSE:OR opened at $31.07 on Friday. OR Royalties Inc. has a 12-month low of $17.55 and a 12-month high of $42.25. The company’s 50 day moving average price is $35.82 and its two-hundred day moving average price is $29.79. The firm has a market cap of $5.85 billion, a PE ratio of 83.98 and a beta of 0.72. The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 0.03.

OR Royalties (NYSE:OR) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. The business had revenue of $71.63 million during the quarter, compared to analysts’ expectations of $53.85 million. OR Royalties had a return on equity of 8.56% and a net margin of 35.25%. Equities research analysts predict that OR Royalties Inc. will post 0.62 earnings per share for the current year.

OR Royalties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 31st. OR Royalties’s dividend payout ratio is 59.46%.

About OR Royalties

Osisko Gold Royalties Ltd acquires and manages precious metal and other royalties, streams, and other interests in Canada and internationally. It also owns options on offtake; royalty/stream financings; and exclusive rights to participate in future royalty/stream financings on various projects. The company’s primary asset is a 3-5% net smelter return royalty on the Canadian Malartic complex located in Canada.