OR Royalties (NYSE:OR) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of OR Royalties (NYSE:OR) from a hold rating to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

OR has been the subject of several other research reports. Raymond James Financial raised shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 target price for the company in a research report on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of OR Royalties in a report on Monday, December 29th. Wall Street Zen upgraded OR Royalties from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 19th. 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 upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $38.25.

OR Royalties Stock Performance

Shares of OR opened at $38.70 on Wednesday. OR Royalties has a one year low of $17.55 and a one year high of $47.75. The stock has a 50-day moving average price of $38.30 and a 200 day moving average price of $35.12. The company has a market capitalization of $7.24 billion, a P/E ratio of 48.99 and a beta of 0.76.

OR Royalties (NYSE:OR) last released its earnings results on Wednesday, November 5th. The basic materials company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. OR Royalties had a return on equity of 10.67% and a net margin of 60.72%.The company had revenue of $71.63 million during the quarter, compared to analysts’ expectations of $53.85 million. As a group, equities research analysts forecast that OR Royalties will post 0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OR Royalties

Several large investors have recently added to or reduced their stakes in OR. Picton Mahoney Asset Management bought a new position in shares of OR Royalties during the second quarter worth about $96,617,000. Van ECK Associates Corp lifted its position in OR Royalties by 20.5% in the 3rd quarter. Van ECK Associates Corp now owns 15,561,057 shares of the basic materials company’s stock valued at $623,686,000 after purchasing an additional 2,650,333 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in OR Royalties by 39.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,543,667 shares of the basic materials company’s stock valued at $302,419,000 after purchasing an additional 2,124,421 shares during the period. Massachusetts Financial Services Co. MA bought a new position in OR Royalties in the 3rd quarter worth about $41,210,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of OR Royalties by 152.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock valued at $26,539,000 after purchasing an additional 758,815 shares during the period. 68.52% of the stock is owned by institutional investors and hedge funds.

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.