OR Royalties (NYSE:OR) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of OR Royalties (NYSE:OR) from a buy rating to a strong-buy rating in a research note published on Monday morning.

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

OR Royalties Stock Performance

NYSE OR opened at $41.21 on Monday. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of 52.16 and a beta of 0.78. OR Royalties has a one year low of $17.55 and a one year high of $42.25. The company’s 50 day moving average price is $35.67 and its 200 day moving average price is $33.76.

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, topping the consensus estimate of $0.19 by $0.03. The company had revenue of $71.63 million during the quarter, compared to analyst estimates of $53.85 million. OR Royalties had a net margin of 60.72% and a return on equity of 10.67%. Sell-side analysts forecast that OR Royalties will post 0.62 EPS for the current fiscal year.

OR Royalties Dividend Announcement

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

Hedge Funds Weigh In On OR Royalties

Hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its holdings in shares of OR Royalties by 20.5% during the third quarter. Van ECK Associates Corp now owns 15,561,057 shares of the basic materials company’s stock worth $623,686,000 after purchasing an additional 2,650,333 shares during the period. Vanguard Group Inc. grew its position in shares of OR Royalties by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 7,679,045 shares of the basic materials company’s stock valued at $307,776,000 after buying an additional 233,504 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of OR Royalties by 39.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,543,667 shares of the basic materials company’s stock worth $302,419,000 after purchasing an additional 2,124,421 shares during the period. Picton Mahoney Asset Management acquired a new position in OR Royalties during the 2nd quarter valued at approximately $96,617,000. Finally, Tidal Investments LLC increased its position in OR Royalties by 25.4% in the third quarter. Tidal Investments LLC now owns 2,347,760 shares of the basic materials company’s stock worth $94,098,000 after buying an additional 474,840 shares during the period. Institutional investors and hedge funds own 68.52% of the company’s stock.

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.