Montrusco Bolton Investments Inc. Purchases Shares of 254,620 OR Royalties Inc. $OR

Montrusco Bolton Investments Inc. acquired a new stake in shares of OR Royalties Inc. (NYSE:OR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 254,620 shares of the basic materials company’s stock, valued at approximately $9,664,000. Montrusco Bolton Investments Inc. owned about 0.14% of OR Royalties at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Van ECK Associates Corp boosted its holdings in OR Royalties by 20.5% during the 3rd quarter. Van ECK Associates Corp now owns 15,561,057 shares of the basic materials company’s stock valued at $623,686,000 after acquiring an additional 2,650,333 shares during the period. Vanguard Group Inc. lifted its position in OR Royalties by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 7,847,015 shares of the basic materials company’s stock valued at $277,965,000 after purchasing an additional 167,970 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in OR Royalties by 39.2% in the third 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 purchasing an additional 2,124,421 shares during the last quarter. Picton Mahoney Asset Management boosted its stake in shares of OR Royalties by 1.6% during the fourth quarter. Picton Mahoney Asset Management now owns 3,160,518 shares of the basic materials company’s stock valued at $112,114,000 after purchasing an additional 50,882 shares during the period. Finally, Elliott Investment Management L.P. boosted its stake in shares of 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 valued at $110,098,000 after purchasing an additional 930,849 shares during the period. Hedge funds and other institutional investors own 68.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. 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. Zacks Research cut shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Royal Bank Of Canada reissued an “outperform” rating and issued a $56.00 price target on shares of OR Royalties in a report on Friday, April 10th. Finally, Wall Street Zen downgraded shares of OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, OR Royalties currently has an average rating of “Moderate Buy” and an average target price of $46.50.

OR Royalties Price Performance

NYSE:OR opened at $31.31 on Friday. OR Royalties Inc. has a one year low of $25.30 and a one year high of $48.06. The company’s 50-day simple moving average is $35.50 and its 200 day simple moving average is $38.58. The firm has a market capitalization of $5.87 billion, a P/E ratio of 23.36 and a beta of 0.74.

OR Royalties (NYSE:OR) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $102.83 million for the quarter, compared to analysts’ expectations of $103.27 million. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%. On average, equities research analysts expect that OR Royalties Inc. will post 1.4 earnings per share for the current fiscal year.

OR Royalties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.065 per share. The ex-dividend date is Tuesday, June 30th. This is a boost from OR Royalties’s previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a dividend yield of 0.8%. OR Royalties’s dividend payout ratio is 19.40%.

OR Royalties 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.