60,661 Shares in OR Royalties Inc. $OR Purchased by Independent Advisor Alliance

Independent Advisor Alliance purchased a new position in shares of OR Royalties Inc. (NYSE:OR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 60,661 shares of the basic materials company’s stock, valued at approximately $2,147,000.

Other hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. acquired a new position in shares of OR Royalties during the 3rd quarter worth about $2,649,000. Navellier & Associates Inc. purchased a new stake in OR Royalties during the 3rd quarter valued at about $1,451,000. Massachusetts Financial Services Co. MA purchased a new stake in OR Royalties during the 3rd quarter valued at about $41,210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in OR Royalties by 39.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,543,667 shares of the basic materials company’s stock valued at $302,419,000 after acquiring an additional 2,124,421 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in OR Royalties by 6.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,887,800 shares of the basic materials company’s stock valued at $75,647,000 after acquiring an additional 106,700 shares in the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

OR Royalties Price Performance

OR Royalties stock opened at $38.30 on Friday. The firm has a 50 day simple moving average of $39.14 and a 200-day simple moving average of $38.30. OR Royalties Inc. has a 1-year low of $22.63 and a 1-year high of $48.06. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 28.58 and a beta of 0.71.

OR Royalties (NYSE:OR) last posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. The business had revenue of $102.83 million during the quarter, compared to analysts’ expectations of $103.27 million. Equities analysts expect that OR Royalties Inc. will post 1.38 earnings per share for the current fiscal year.

OR Royalties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.065 dividend. This is an increase from OR Royalties’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, June 30th. OR Royalties’s dividend payout ratio (DPR) is presently 16.42%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen cut shares of OR Royalties from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 11th. Scotiabank upped their price objective on shares of OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of OR Royalties in a research note on Wednesday, February 4th. TD Securities reaffirmed a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $56.00 price objective on shares of OR Royalties in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.50.

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.