OR Royalties Inc. $OR Stake Lessened by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC lessened its stake in shares of OR Royalties Inc. (NYSE:OR) by 11.4% during the third quarter, Holdings Channel.com reports. The fund owned 131,740 shares of the basic materials company’s stock after selling 16,874 shares during the period. Rice Hall James & Associates LLC’s holdings in OR Royalties were worth $5,280,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new position in OR Royalties during the 2nd quarter valued at $96,617,000. Elliott Investment Management L.P. bought a new stake in shares of OR Royalties in the 1st quarter worth $46,045,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of OR Royalties by 43.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,419,246 shares of the basic materials company’s stock valued at $139,006,000 after buying an additional 1,648,567 shares during the period. EdgePoint Investment Group Inc. boosted its stake in OR Royalties by 6.8% during the first quarter. EdgePoint Investment Group Inc. now owns 24,020,067 shares of the basic materials company’s stock valued at $507,009,000 after buying an additional 1,534,292 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings 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 acquiring an additional 758,815 shares during the period. 68.52% of the stock is currently owned by institutional investors and hedge funds.

OR Royalties Stock Up 1.5%

OR opened at $37.60 on Friday. 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 $7.07 billion, a P/E ratio of 47.59 and a beta of 0.81. The stock has a fifty day moving average of $33.92 and a 200-day moving average of $32.29.

OR Royalties (NYSE:OR) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. OR Royalties had a return on equity of 10.67% and a net margin of 60.72%.The firm had revenue of $71.63 million during the quarter, compared to analyst estimates of $53.85 million. On average, analysts expect that OR Royalties Inc. will post 0.62 earnings per share for the current fiscal year.

OR Royalties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Wednesday, December 31st. OR Royalties’s dividend payout ratio (DPR) is currently 27.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OR. Scotiabank cut shares of 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 research note on Thursday, October 23rd. Raymond James Financial raised OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a research note on Thursday, November 6th. Wall Street Zen upgraded OR Royalties from a “buy” rating to a “strong-buy” rating in a report on Friday, November 28th. Jefferies Financial Group reaffirmed a “hold” rating and set a $38.00 target price on shares of OR Royalties in a report on Sunday, December 7th. Finally, Canaccord Genuity Group raised OR Royalties from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, OR Royalties currently has an average rating of “Moderate Buy” and a consensus target price of $35.75.

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.