OR Royalties Inc. $OR Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. cut its position in shares of OR Royalties Inc. (NYSE:OR) by 18.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 302,542 shares of the basic materials company’s stock after selling 70,099 shares during the quarter. Cibc World Market Inc.’s holdings in OR Royalties were worth $12,123,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Eagle Global Advisors LLC acquired a new stake in OR Royalties in the third quarter valued at $206,000. Merit Financial Group LLC purchased a new stake in shares of OR Royalties in the 3rd quarter worth about $215,000. Envestnet Asset Management Inc. acquired a new stake in OR Royalties in the 3rd quarter valued at about $228,000. Smith Salley Wealth Management purchased a new position in OR Royalties during the 3rd quarter valued at about $228,000. Finally, Corundum Trust Company INC purchased a new position in OR Royalties during the 3rd quarter valued at about $240,000. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OR. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OR Royalties in a report on Monday, December 29th. Zacks Research raised OR Royalties from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Jefferies Financial Group reiterated a “hold” rating and set a $38.00 target price on shares of OR Royalties in a report on Sunday, December 7th. Scotiabank boosted their price target on OR Royalties from $41.00 to $51.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of OR Royalties 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $38.25.

OR Royalties Stock Performance

Shares of NYSE OR opened at $40.40 on Friday. The firm has a market cap of $7.57 billion, a P/E ratio of 51.13 and a beta of 0.76. OR Royalties Inc. has a 1 year low of $17.55 and a 1 year high of $47.75. The firm’s 50 day moving average price is $39.06 and its 200 day moving average price is $35.59.

About OR Royalties

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.