Newbridge Financial Services Group Inc. Acquires New Stake in OR Royalties Inc. $OR

Newbridge Financial Services Group Inc. bought a new position in OR Royalties Inc. (NYSE:OR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,529 shares of the basic materials company’s stock, valued at approximately $451,000.

A number of other institutional investors have also recently made changes to their positions in the company. Plato Investment Management Ltd bought a new position in shares of OR Royalties during the 1st quarter worth $56,000. Summit Securities Group LLC bought a new stake in OR Royalties in the 1st quarter valued at about $62,000. Twin Tree Management LP purchased a new stake in OR Royalties during the second quarter valued at about $245,000. Hsbc Holdings PLC bought a new position in OR Royalties during the first quarter worth about $208,000. Finally, Brevan Howard Capital Management LP bought a new position in OR Royalties during the second quarter worth about $288,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Scotiabank lowered shares of OR Royalties from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $33.00 to $41.00 in a research report on Thursday, October 23rd. Raymond James Financial raised shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OR Royalties in a report on Monday, December 8th. Wall Street Zen upgraded OR Royalties from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 28th. Finally, Zacks Research raised OR Royalties from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $35.75.

OR Royalties Price Performance

NYSE OR opened at $36.00 on Monday. The company’s 50 day simple moving average is $34.45 and its two-hundred day simple moving average is $31.66. OR Royalties Inc. has a 1 year low of $17.55 and a 1 year high of $42.25. The stock has a market capitalization of $6.77 billion, a PE ratio of 45.56 and a beta of 0.81.

OR Royalties (NYSE:OR) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The firm had revenue of $71.63 million during the quarter, compared to analyst estimates of $53.85 million. OR Royalties had a net margin of 60.72% and a return on equity of 10.67%. On average, research analysts anticipate that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, December 31st. OR Royalties’s dividend payout ratio is currently 27.85%.

OR Royalties Profile

Osisko Gold Royalties Ltd acquires and manages precious metal and other royalties, streams, and other interests in Canada and internationally. It also owns options on offtake; royalty/stream financings; and exclusive rights to participate in future royalty/stream financings on various projects. The company’s primary asset is a 3-5% net smelter return royalty on the Canadian Malartic complex located in Canada.