Regal Partners Ltd Boosts Stock Holdings in OR Royalties Inc. $OR

Regal Partners Ltd boosted its position in OR Royalties Inc. (NYSE:OR) by 100.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,102 shares of the basic materials company’s stock after purchasing an additional 19,102 shares during the period. Regal Partners Ltd’s holdings in OR Royalties were worth $1,449,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of OR Royalties during the 4th quarter worth approximately $88,597,000. Elliott Investment Management L.P. boosted its stake in shares of 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 buying an additional 930,849 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of 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 buying an additional 758,815 shares in the last quarter. Invesco Ltd. grew its holdings in OR Royalties by 85.3% during the third quarter. Invesco Ltd. now owns 1,543,366 shares of the basic materials company’s stock worth $61,858,000 after acquiring an additional 710,654 shares during the period. Finally, Verbena Value LP acquired a new position in OR Royalties during the fourth quarter worth $24,734,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.

OR Royalties Stock Performance

OR opened at $29.44 on Wednesday. The business’s fifty day moving average is $32.49 and its two-hundred day moving average is $37.74. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 21.97 and a beta of 0.74. OR Royalties Inc. has a one year low of $27.40 and a one year high of $48.06.

OR Royalties (NYSE:OR) last posted its 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 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 analyst estimates of $103.27 million. On average, analysts predict that OR Royalties Inc. will post 1.27 EPS for the current fiscal year.

OR Royalties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio is currently 18.66%.

Analysts Set New Price Targets

OR has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered 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 note on Monday, July 6th. Weiss Ratings cut shares of OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Wall Street Zen cut shares of OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Royal Bank Of Canada decreased their price objective on shares of OR Royalties from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, Scotiabank lowered their target price on shares of OR Royalties from $51.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.50.

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.