Navellier & Associates Inc. Invests $1.45 Million in OR Royalties Inc. $OR

Navellier & Associates Inc. acquired a new stake in shares of OR Royalties Inc. (NYSE:OR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 36,207 shares of the basic materials company’s stock, valued at approximately $1,451,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Cetera Investment Advisers raised its holdings in OR Royalties by 3.5% during the 2nd quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock worth $337,000 after buying an additional 440 shares during the period. Vident Advisory LLC raised its holdings in shares of OR Royalties by 2.0% during the second quarter. Vident Advisory LLC now owns 42,349 shares of the basic materials company’s stock worth $1,089,000 after acquiring an additional 820 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in OR Royalties by 9.6% in 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its position in OR Royalties by 0.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 283,500 shares of the basic materials company’s stock valued at $7,291,000 after acquiring an additional 1,500 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC boosted its stake in OR Royalties by 14.0% in the 3rd quarter. SeaBridge Investment Advisors LLC now owns 17,677 shares of the basic materials company’s stock worth $708,000 after purchasing an additional 2,177 shares during the period. 68.52% of the stock is currently owned by institutional investors and hedge funds.

OR Royalties Price Performance

OR Royalties stock opened at $42.98 on Wednesday. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 54.41 and a beta of 0.76. The firm has a 50-day moving average of $38.74 and a 200-day moving average of $35.50. OR Royalties Inc. has a one year low of $17.55 and a one year high of $47.75.

Analysts Set New Price Targets

OR has been the topic of several recent research reports. Raymond James Financial raised OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research note on Thursday, November 6th. Jefferies Financial Group reaffirmed a “hold” rating and set a $38.00 price objective on shares of OR Royalties in a research report on Sunday, December 7th. Scotiabank lifted their target price on OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of OR Royalties in a research note on Wednesday, February 4th. Finally, Zacks Research raised OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $38.25.

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.