171,014 Shares in OR Royalties Inc. $OR Bought by Norges Bank

Norges Bank purchased a new position in shares of OR Royalties Inc. (NYSE:OR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 171,014 shares of the basic materials company’s stock, valued at approximately $4,398,000. Norges Bank owned 0.09% of OR Royalties at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Plato Investment Management Ltd acquired a new position in shares of OR Royalties during the first quarter worth about $56,000. Summit Securities Group LLC purchased a new position in OR Royalties in the first quarter worth approximately $62,000. Twin Tree Management LP purchased a new position in OR Royalties in the second quarter worth approximately $245,000. Hsbc Holdings PLC acquired a new position in OR Royalties during the 1st quarter worth approximately $208,000. Finally, Trexquant Investment LP acquired a new position in OR Royalties during the 1st quarter worth approximately $248,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

OR Royalties Price Performance

Shares of NYSE:OR opened at $34.71 on Wednesday. The company’s fifty day moving average price is $34.69 and its 200 day moving average price is $31.43. OR Royalties Inc. has a 12 month low of $17.55 and a 12 month high of $42.25. The firm has a market capitalization of $6.52 billion, a P/E ratio of 43.93 and a beta of 0.81.

OR Royalties (NYSE:OR) last released its quarterly earnings data 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 company had revenue of $71.63 million during the quarter, compared to the consensus estimate of $53.85 million. OR Royalties had a net margin of 60.72% and a return on equity of 10.67%. On average, sell-side analysts anticipate that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a $0.055 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.6%. OR Royalties’s dividend payout ratio is 27.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OR. Wall Street Zen upgraded shares of OR Royalties from a “buy” rating to a “strong-buy” rating in a report on Friday, November 28th. Scotiabank lowered OR Royalties from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $33.00 to $41.00 in a report on Thursday, October 23rd. Jefferies Financial Group restated a “hold” rating and issued a $38.00 price target on shares of OR Royalties in a research note on Sunday. Canaccord Genuity Group raised OR Royalties from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Zacks Research raised OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, OR Royalties presently has an average rating of “Buy” and an average price target of $35.75.

OR Royalties 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.