OR Royalties (NYSE:OR) Sets New 12-Month High – Here’s Why

OR Royalties Inc. (NYSE:OR)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $46.85 and last traded at $47.4680, with a volume of 114765 shares trading hands. The stock had previously closed at $45.20.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on OR shares. Canaccord Genuity Group raised OR Royalties from a “hold” rating to a “strong-buy” rating in a research report 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. Raymond James Financial raised shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 target price for the company in a research report on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of OR Royalties in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of OR Royalties from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, OR Royalties has a consensus rating of “Moderate Buy” and a consensus price target of $38.25.

OR Royalties Stock Up 3.5%

The business’s 50 day simple moving average is $36.60 and its 200 day simple moving average is $34.27. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 59.32 and a beta of 0.78.

OR Royalties (NYSE:OR) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $0.22 earnings per share (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. Equities research analysts forecast that OR Royalties Inc. will post 0.62 earnings per share for the current fiscal year.

OR Royalties Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OR. Linden Thomas Advisory Services LLC raised its stake in OR Royalties by 4.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 6,254 shares of the basic materials company’s stock valued at $221,000 after acquiring an additional 249 shares during the period. Cetera Investment Advisers increased its holdings in shares of OR Royalties by 3.5% in the second quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock valued at $337,000 after purchasing an additional 440 shares during the last quarter. Vident Advisory LLC increased its holdings in shares of OR Royalties by 2.0% in the second quarter. Vident Advisory LLC now owns 42,349 shares of the basic materials company’s stock valued at $1,089,000 after purchasing an additional 820 shares during the last quarter. Assetmark Inc. bought a new position in shares of OR Royalties in the fourth quarter valued at about $36,000. Finally, PFG Investments LLC lifted its stake in shares of OR Royalties by 4.1% during the 4th quarter. PFG Investments LLC now owns 25,992 shares of the basic materials company’s stock worth $920,000 after buying an additional 1,030 shares during the last quarter. 68.52% of the stock is currently owned by institutional investors.

About OR Royalties

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.