OR Royalties (NYSE:OR) Shares Pass Below Fifty Day Moving Average – What’s Next?

Shares of OR Royalties Inc. (NYSE:OR) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $38.03 and traded as low as $33.67. OR Royalties shares last traded at $33.8130, with a volume of 1,196,706 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OR. Zacks Research lowered OR Royalties from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings downgraded shares of OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday. Royal Bank Of Canada reissued an “outperform” rating and set a $56.00 price objective on shares of OR Royalties in a report on Friday, April 10th. TD Securities reissued a “hold” rating on shares of OR Royalties in a report on Monday, February 23rd. Finally, Wall Street Zen downgraded shares of OR Royalties from a “buy” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, OR Royalties currently has a consensus rating of “Moderate Buy” and an average price target of $46.50.

OR Royalties Stock Down 6.4%

The stock has a market cap of $6.34 billion, a PE ratio of 25.23 and a beta of 0.70. The business’s fifty day moving average is $38.03 and its 200 day moving average is $38.69.

OR Royalties (NYSE:OR) last announced its earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $102.83 million during the quarter, compared to analysts’ expectations of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. As a group, analysts predict that OR Royalties Inc. will post 1.4 EPS for the current 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 dividend of $0.065 per share. The ex-dividend date is Tuesday, June 30th. 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 0.8%. OR Royalties’s dividend payout ratio (DPR) is presently 16.42%.

Hedge Funds Weigh In On OR Royalties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OR. Van ECK Associates Corp raised its position 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 worth $623,686,000 after acquiring an additional 2,650,333 shares during the last quarter. Norges Bank acquired a new position in OR Royalties during the fourth quarter worth approximately $88,597,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in OR Royalties by 39.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,543,667 shares of the basic materials company’s stock worth $302,419,000 after purchasing an additional 2,124,421 shares during the last quarter. Elliott Investment Management L.P. grew its stake in OR Royalties by 42.7% during the fourth quarter. Elliott Investment Management L.P. now owns 3,111,000 shares of the basic materials company’s stock worth $110,098,000 after buying an additional 930,849 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake 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. 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.