OR Royalties (NYSE:OR) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

OR Royalties (NYSE:OR) posted its earnings results on Wednesday. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01, Zacks reports. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%.

OR Royalties Stock Up 5.1%

Shares of OR stock traded up $1.56 during mid-day trading on Wednesday, reaching $32.32. The stock had a trading volume of 1,213,135 shares, compared to its average volume of 991,022. OR Royalties has a one year low of $27.54 and a one year high of $48.06. The firm has a market cap of $6.05 billion, a PE ratio of 24.12 and a beta of 0.75. The firm’s 50 day simple moving average is $31.86 and its 200 day simple moving average is $37.35.

Analyst Upgrades and Downgrades

OR has been the subject of a number of research analyst reports. Royal Bank Of Canada cut their target price on shares of OR Royalties from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Zacks Research lowered OR Royalties from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Jefferies Financial Group cut their price objective on OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Wall Street Zen downgraded OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings lowered OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.50.

Institutional Investors Weigh In On OR Royalties

Several institutional investors and hedge funds have recently bought and sold shares of OR. Elliott Investment Management L.P. raised its stake in shares of OR Royalties by 42.7% in the 4th quarter. Elliott Investment Management L.P. now owns 3,111,000 shares of the basic materials company’s stock valued at $110,098,000 after buying an additional 930,849 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in OR Royalties by 152.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock worth $26,539,000 after purchasing an additional 758,815 shares during the period. Invesco Ltd. boosted its holdings in OR Royalties by 85.3% during the third quarter. Invesco Ltd. now owns 1,543,366 shares of the basic materials company’s stock valued at $61,858,000 after purchasing an additional 710,654 shares in the last quarter. Verbena Value LP acquired a new stake in OR Royalties during the fourth quarter valued at approximately $24,734,000. Finally, Millennium Management LLC bought a new stake in shares of OR Royalties in the 4th quarter valued at approximately $23,028,000. Institutional investors 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.