Van ECK Associates Corp Acquires 2,650,333 Shares of OR Royalties Inc. $OR

Van ECK Associates Corp lifted its holdings in shares of OR Royalties Inc. (NYSE:OR) by 20.5% during the third quarter, HoldingsChannel reports. The firm owned 15,561,057 shares of the basic materials company’s stock after purchasing an additional 2,650,333 shares during the quarter. Van ECK Associates Corp owned 0.08% of OR Royalties worth $623,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cetera Investment Advisers grew its position in OR Royalties by 3.5% during the second quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock valued at $337,000 after buying an additional 440 shares during the period. Vident Advisory LLC boosted its stake in 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 acquiring an additional 820 shares during the last quarter. HighTower Advisors LLC boosted its stake in OR Royalties by 1.4% in the third quarter. HighTower Advisors LLC now owns 79,518 shares of the basic materials company’s stock valued at $3,187,000 after acquiring an additional 1,088 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of OR Royalties by 9.6% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 16,471 shares of the basic materials company’s stock valued at $660,000 after acquiring an additional 1,446 shares during the period. Finally, Caitlin John LLC purchased a new stake in shares of OR Royalties during the 3rd quarter worth approximately $78,000. 68.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on OR. Wall Street Zen downgraded OR Royalties from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. TD Securities restated a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $38.00 price target on shares of OR Royalties in a research report on Sunday, December 7th. Weiss Ratings reissued a “buy (b)” rating on shares of OR Royalties in a report on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of OR Royalties in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, OR Royalties presently has an average rating of “Moderate Buy” and an average target price of $38.25.

OR Royalties Trading Up 0.6%

OR Royalties stock opened at $43.36 on Tuesday. The firm has a 50 day simple moving average of $41.92 and a 200 day simple moving average of $37.43. OR Royalties Inc. has a 1-year low of $17.61 and a 1-year high of $48.06. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 39.78 and a beta of 0.75.

OR Royalties (NYSE:OR) last posted its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $90.47 million during the quarter, compared to analyst estimates of $90.80 million. OR Royalties had a return on equity of 12.73% and a net margin of 74.30%. On average, equities research analysts forecast that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, March 31st. OR Royalties’s payout ratio is presently 20.18%.

OR Royalties 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.