OR Royalties (NYSE:OR) Rating Lowered to Hold at Canaccord Genuity Group

OR Royalties (NYSE:OR) was downgraded by Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other equities research analysts also recently commented on the stock. Raymond James Financial boosted their target price on shares of OR Royalties from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. National Bankshares reissued an “outperform” rating on shares of OR Royalties in a research report on Tuesday, June 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of OR Royalties in a research report on Saturday, September 27th. Wall Street Zen raised shares of OR Royalties from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, CIBC reissued an “outperform” rating on shares of OR Royalties in a research report on Tuesday, July 15th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, OR Royalties has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

OR Royalties Trading Down 0.7%

OR opened at $39.41 on Thursday. OR Royalties has a 1-year low of $17.55 and a 1-year high of $41.05. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 0.03. The company has a market cap of $7.42 billion, a P/E ratio of 106.51 and a beta of 0.75. The company has a fifty day moving average price of $33.19 and a two-hundred day moving average price of $27.37.

OR Royalties (NYSE:OR) last posted its quarterly earnings results on Tuesday, August 5th. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). OR Royalties had a net margin of 35.25% and a return on equity of 8.56%. The company had revenue of $60.36 million during the quarter, compared to the consensus estimate of $83.25 million. Analysts predict that OR Royalties will post 0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. boosted its holdings in OR Royalties by 6.8% during the first quarter. EdgePoint Investment Group Inc. now owns 24,020,067 shares of the basic materials company’s stock worth $507,009,000 after purchasing an additional 1,534,292 shares during the last quarter. Vanguard Group Inc. boosted its holdings in OR Royalties by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,251,763 shares of the basic materials company’s stock worth $153,041,000 after purchasing an additional 43,417 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in OR Royalties by 43.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,419,246 shares of the basic materials company’s stock worth $139,006,000 after purchasing an additional 1,648,567 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in OR Royalties by 52.2% during the first quarter. Mackenzie Financial Corp now owns 5,040,962 shares of the basic materials company’s stock worth $106,382,000 after purchasing an additional 1,728,760 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in OR Royalties by 116.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,790,732 shares of the basic materials company’s stock worth $101,181,000 after purchasing an additional 2,574,458 shares during the last quarter. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

OR Royalties Company Profile

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.