OR Royalties (NYSE:OR) Trading 7% Higher on Analyst Upgrade

OR Royalties Inc. (NYSE:OR) shares were up 7% during mid-day trading on Tuesday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The stock traded as high as $43.85 and last traded at $44.0910. Approximately 242,219 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,408,696 shares. The stock had previously closed at $41.20.

Several other equities research analysts have also issued reports on OR. Zacks Research lowered shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. 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 report on Thursday, November 6th. Canaccord Genuity Group upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group restated a “hold” rating and set a $38.00 target price on shares of OR Royalties in a report on Sunday, December 7th. Finally, Scotiabank lowered shares of OR Royalties from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $33.00 to $41.00 in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $35.75.

Institutional Investors Weigh In On OR Royalties

Several hedge funds have recently modified their holdings of the company. Caitlin John LLC bought a new stake in OR Royalties in the third quarter valued at approximately $78,000. Eagle Global Advisors LLC bought a new position in shares of OR Royalties in the third quarter valued at approximately $206,000. Merit Financial Group LLC bought a new position in shares of OR Royalties during the third quarter valued at about $215,000. Flow Traders U.S. LLC bought a new position in shares of OR Royalties in the third quarter valued at approximately $217,000. Finally, Moors & Cabot Inc. purchased a new stake in shares of OR Royalties during the 3rd quarter valued at $220,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

OR Royalties Trading Up 6.0%

The business’s fifty day moving average is $35.67 and its 200 day moving average is $33.76. The company has a market cap of $8.17 billion, a P/E ratio of 55.61 and a beta of 0.78.

OR Royalties (NYSE:OR) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. OR Royalties had a net margin of 60.72% and a return on equity of 10.67%. The company had revenue of $71.63 million for the quarter, compared to analysts’ expectations of $53.85 million. As a group, research analysts expect that OR Royalties Inc. will post 0.62 EPS for the current fiscal year.

OR Royalties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, December 31st. OR Royalties’s dividend payout ratio (DPR) is 27.85%.

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.