Canoe Financial LP Makes New $2 Million Investment in OR Royalties Inc. $OR

Canoe Financial LP bought a new stake in shares of OR Royalties Inc. (NYSE:OR) in the 1st quarter, HoldingsChannel reports. The fund bought 52,572 shares of the basic materials company’s stock, valued at approximately $2,001,000.

A number of other institutional investors and hedge funds also recently modified their holdings of OR. FIL Ltd bought a new position in shares of OR Royalties in the 4th quarter worth about $29,000. Assetmark Inc. bought a new stake in shares of OR Royalties during the 4th quarter valued at about $36,000. Banque Cantonale Vaudoise bought a new stake in shares of OR Royalties during the 1st quarter valued at about $37,000. Caitlin John LLC acquired a new stake in OR Royalties during the third quarter worth about $78,000. Finally, Allworth Financial LP raised its stake in OR Royalties by 20.0% during the fourth quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 384 shares during the period. 68.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on OR. Zacks Research downgraded OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Weiss Ratings downgraded OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 4th. Wall Street Zen lowered OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $56.00 target price on shares of OR Royalties in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

OR Royalties Trading Up 0.0%

Shares of NYSE:OR opened at $32.26 on Monday. The firm’s 50 day moving average is $36.48 and its two-hundred day moving average is $38.74. The firm has a market capitalization of $6.05 billion, a P/E ratio of 24.08 and a beta of 0.70. OR Royalties Inc. has a 52 week low of $24.79 and a 52 week high of $48.06.

OR Royalties (NYSE:OR) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $102.83 million for the quarter, compared to analyst estimates of $103.27 million. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%. Analysts predict that OR Royalties Inc. will post 1.4 EPS for the current year.

OR Royalties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 0.8%. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, June 30th. OR Royalties’s payout ratio is currently 16.42%.

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.