Connor Clark & Lunn Investment Management Ltd. Purchases 106,700 Shares of OR Royalties Inc. $OR

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of OR Royalties Inc. (NYSE:OR) by 6.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,887,800 shares of the basic materials company’s stock after acquiring an additional 106,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 1.00% of OR Royalties worth $75,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in OR. Picton Mahoney Asset Management purchased a new stake in shares of OR Royalties in the 2nd quarter worth approximately $96,617,000. Van ECK Associates Corp increased its holdings in OR Royalties by 20.5% during the third quarter. Van ECK Associates Corp now owns 15,561,057 shares of the basic materials company’s stock valued at $623,686,000 after buying an additional 2,650,333 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in OR Royalties by 43.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,419,246 shares of the basic materials company’s stock worth $139,006,000 after buying an additional 1,648,567 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in OR Royalties during the third quarter worth $41,210,000. Finally, Goldman Sachs Group Inc. lifted its holdings in OR Royalties by 152.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock worth $26,539,000 after buying an additional 758,815 shares during the period. Hedge funds and other institutional investors own 68.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Scotiabank lifted their price target on OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. TD Securities restated a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Wall Street Zen downgraded OR Royalties from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Jefferies Financial Group reiterated 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 reissued 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 issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, OR Royalties has an average rating of “Moderate Buy” and an average target price of $38.25.

OR Royalties Trading Down 1.6%

Shares of OR opened at $42.99 on Thursday. OR Royalties Inc. has a 12 month low of $18.79 and a 12 month high of $48.06. The stock has a fifty day moving average price of $42.23 and a 200-day moving average price of $37.56. The firm has a market cap of $8.06 billion, a PE ratio of 39.44 and a beta of 0.75.

OR Royalties (NYSE:OR) last announced its earnings results on Wednesday, February 18th. The basic materials company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. OR Royalties had a return on equity of 12.73% and a net margin of 74.30%.The firm had revenue of $90.47 million for the quarter, compared to the consensus estimate of $90.80 million. As a group, research analysts forecast that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.055 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.5%. OR Royalties’s payout ratio is presently 20.18%.

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.