OR Royalties (NYSE:OR) Downgraded by Zacks Research to “Strong Sell”

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

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

OR Royalties Stock Up 0.4%

Shares of NYSE OR opened at $28.86 on Monday. The stock has a market capitalization of $5.41 billion, a PE ratio of 21.54 and a beta of 0.74. The firm has a fifty day moving average of $34.31 and a 200-day moving average of $38.27. OR Royalties has a 52-week low of $26.86 and a 52-week high of $48.06.

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

Institutional Trading of OR Royalties

Large investors have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of OR Royalties during the fourth quarter worth approximately $88,597,000. Elliott Investment Management L.P. raised its holdings in OR Royalties by 42.7% in the fourth quarter. Elliott Investment Management L.P. now owns 3,111,000 shares of the basic materials company’s stock valued at $110,098,000 after acquiring an additional 930,849 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in OR Royalties by 152.4% in the first 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 in the last quarter. Invesco Ltd. boosted its stake in OR Royalties by 85.3% during the 3rd quarter. Invesco Ltd. now owns 1,543,366 shares of the basic materials company’s stock valued at $61,858,000 after acquiring an additional 710,654 shares during the last quarter. Finally, Verbena Value LP bought a new position in OR Royalties during the 4th quarter valued at $24,734,000. 68.52% of the stock is currently owned by institutional investors and hedge funds.

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.