Cibc World Market Inc. boosted its holdings in OR Royalties Inc. (NYSE:OR – Free Report) by 19.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 360,911 shares of the basic materials company’s stock after buying an additional 58,369 shares during the quarter. Cibc World Market Inc.’s holdings in OR Royalties were worth $12,787,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of OR. Assetmark Inc. purchased a new position in OR Royalties in the 4th quarter worth about $36,000. Caitlin John LLC purchased a new stake in shares of OR Royalties during the 3rd quarter valued at about $78,000. Allworth Financial LP increased its position in shares of OR Royalties by 20.0% during the 4th quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 384 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of OR Royalties during the 3rd quarter valued at about $215,000. Finally, Flow Traders U.S. LLC purchased a new stake in shares of OR Royalties during the 3rd quarter valued at about $217,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.
OR Royalties Price Performance
OR stock opened at $33.81 on Friday. OR Royalties Inc. has a 1-year low of $24.76 and a 1-year high of $48.06. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 25.23 and a beta of 0.70. The business has a 50 day simple moving average of $38.03 and a two-hundred day simple moving average of $38.69.
OR Royalties Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, June 30th. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio is currently 16.42%.
Wall Street Analyst Weigh In
OR has been the subject of several research reports. Zacks Research lowered shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $56.00 price target on shares of OR Royalties in a research report on Friday, April 10th. Wall Street Zen lowered shares of OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OR Royalties in a research report on Friday, May 22nd. Finally, TD Securities reaffirmed a “hold” rating on shares of OR Royalties in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, OR Royalties presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.
Get Our Latest Research Report on OR Royalties
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.
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