BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Holdings in Osisko Gold Royalties Ltd (NYSE:OR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its holdings in Osisko Gold Royalties Ltd (NYSE:OR) by 3.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,003,191 shares of the basic materials company’s stock after selling 64,335 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Osisko Gold Royalties were worth $37,098,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in Osisko Gold Royalties by 12.9% in the second quarter. Renaissance Technologies LLC now owns 239,800 shares of the basic materials company’s stock valued at $3,736,000 after acquiring an additional 27,400 shares in the last quarter. Fiera Capital Corp boosted its position in shares of Osisko Gold Royalties by 3.7% in the 3rd quarter. Fiera Capital Corp now owns 762,075 shares of the basic materials company’s stock valued at $14,133,000 after purchasing an additional 26,917 shares during the period. Mackenzie Financial Corp grew its stake in Osisko Gold Royalties by 237.0% during the 2nd quarter. Mackenzie Financial Corp now owns 1,977,895 shares of the basic materials company’s stock worth $30,827,000 after buying an additional 1,391,005 shares during the last quarter. Principal Financial Group Inc. increased its position in Osisko Gold Royalties by 5.7% during the third quarter. Principal Financial Group Inc. now owns 1,527,110 shares of the basic materials company’s stock worth $28,316,000 after buying an additional 82,150 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Osisko Gold Royalties by 81.1% in the second quarter. The Manufacturers Life Insurance Company now owns 274,253 shares of the basic materials company’s stock valued at $4,268,000 after buying an additional 122,827 shares during the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of Osisko Gold Royalties from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th. TD Securities lowered shares of Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. TD Cowen downgraded shares of Osisko Gold Royalties from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group boosted their price target on Osisko Gold Royalties from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, October 4th.

Osisko Gold Royalties Stock Performance

Shares of OR opened at $19.38 on Friday. The stock has a market capitalization of $3.62 billion, a P/E ratio of -92.31 and a beta of 1.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.40 and a current ratio of 4.40. Osisko Gold Royalties Ltd has a 1 year low of $12.77 and a 1 year high of $21.29. The company’s fifty day moving average is $19.57 and its two-hundred day moving average is $17.80.

Osisko Gold Royalties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.048 per share. This represents a $0.19 dividend on an annualized basis and a dividend yield of 0.99%. This is a positive change from Osisko Gold Royalties’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, December 31st. Osisko Gold Royalties’s payout ratio is -90.48%.

Osisko Gold Royalties Company Profile

Osisko Gold Royalties Ltd acquires and manages precious metal and other royalties, streams, and other interests in Canada and internationally. It also owns options on offtake; royalty/stream financings; and exclusive rights to participate in future royalty/stream financings on various projects. The company’s primary asset is a 3-5% net smelter return royalty on the Canadian Malartic complex located in Canada.