OR Royalties (NYSE:OR) Stock Rating Lowered by Zacks Research

OR Royalties (NYSE:OR) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

Several other analysts have also weighed in on the stock. Weiss Ratings lowered shares of OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 4th. Royal Bank Of Canada decreased their price target on shares of OR Royalties from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Jefferies Financial Group lowered their price objective on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Scotiabank dropped their price objective on shares of OR Royalties from $51.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Finally, Wall Street Zen cut shares of OR Royalties from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.50.

OR Royalties Stock Up 0.4%

Shares of OR Royalties stock opened at $28.86 on Monday. The business has a 50-day moving average price of $34.31 and a 200 day moving average price of $38.27. OR Royalties has a fifty-two week low of $26.86 and a fifty-two week high of $48.06. The firm has a market cap of $5.41 billion, a P/E ratio of 21.54 and a beta of 0.74.

OR Royalties (NYSE:OR) last released its earnings results on Wednesday, May 6th. The basic materials company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%.The company had revenue of $102.83 million for the quarter, compared to the consensus estimate of $103.27 million. As a group, equities research analysts anticipate that OR Royalties will post 1.35 earnings per share for the current year.

Institutional Investors Weigh In On OR Royalties

A number of hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its position in OR Royalties by 152.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock valued at $26,539,000 after acquiring an additional 758,815 shares during the period. Geode Capital Management LLC boosted its position in OR Royalties by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 92,267 shares of the basic materials company’s stock worth $2,384,000 after acquiring an additional 2,459 shares during the period. Cetera Investment Advisers grew its stake in shares of OR Royalties by 3.5% in the second quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock worth $337,000 after purchasing an additional 440 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of OR Royalties by 58.3% during the second quarter. JPMorgan Chase & Co. now owns 205,176 shares of the basic materials company’s stock valued at $5,275,000 after purchasing an additional 75,596 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new position in shares of OR Royalties during the second quarter valued at $1,051,000. Institutional investors own 68.52% of the company’s stock.

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.