OR Royalties (NYSE:OR) Announces Earnings Results, Beats Estimates By $0.01 EPS

OR Royalties (NYSE:OR) issued its quarterly earnings results on Wednesday. The basic materials company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01, Zacks reports. OR Royalties had a net margin of 60.72% and a return on equity of 10.67%.

OR Royalties Price Performance

OR traded up $1.21 during midday trading on Wednesday, hitting $43.52. 1,328,183 shares of the company’s stock traded hands, compared to its average volume of 1,590,349. The company has a market cap of $8.16 billion, a PE ratio of 55.09 and a beta of 0.76. The stock’s fifty day simple moving average is $39.57 and its 200-day simple moving average is $36.02. OR Royalties has a one year low of $17.55 and a one year high of $47.75.

Analysts Set New Price Targets

Several research analysts have commented on OR shares. Weiss Ratings reiterated a “buy (b)” rating on shares of OR Royalties in a report on Monday, December 29th. Scotiabank raised their price objective on shares of OR Royalties from $41.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Zacks Research upgraded shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Jefferies Financial Group restated a “hold” rating and issued a $38.00 target price on shares of OR Royalties in a report on Sunday, December 7th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of OR Royalties in a research report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, OR Royalties presently has a consensus rating of “Buy” and a consensus target price of $38.25.

Institutional Investors Weigh In On OR Royalties

Several institutional investors and hedge funds have recently modified their holdings of the business. FIL Ltd acquired a new position in OR Royalties during the fourth quarter worth $29,000. Wells Fargo & Company MN boosted its stake in shares of OR Royalties by 6.2% during the 4th quarter. Wells Fargo & Company MN now owns 5,901 shares of the basic materials company’s stock worth $209,000 after acquiring an additional 346 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of OR Royalties during the 3rd quarter valued at about $215,000. Flow Traders U.S. LLC bought a new position in shares of OR Royalties in the 3rd quarter valued at approximately $217,000. Finally, Moors & Cabot Inc. bought a new position in shares of OR Royalties in the 3rd quarter valued at approximately $220,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

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.