Osisko Gold Royalties (NYSE:OR) Given New $22.00 Price Target at Scotiabank

Osisko Gold Royalties (NYSE:OR) had its price target lowered by Scotiabank from $31.00 to $22.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a sector perform rating on the basic materials company’s stock.

Other research analysts have also recently issued reports about the stock. TD Securities cut shares of Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Royal Bank of Canada lifted their price target on Osisko Gold Royalties from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, TD Cowen downgraded Osisko Gold Royalties from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.67.

Osisko Gold Royalties Stock Performance

Shares of Osisko Gold Royalties stock opened at $17.94 on Thursday. The business has a 50-day simple moving average of $18.83 and a 200 day simple moving average of $18.83. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 199.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.40 and a quick ratio of 4.40. Osisko Gold Royalties has a one year low of $13.66 and a one year high of $21.29.

Osisko Gold Royalties (NYSE:OR) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Osisko Gold Royalties had a return on equity of 7.94% and a net margin of 8.50%. The company had revenue of $56.74 million for the quarter, compared to analyst estimates of $68.31 million. On average, research analysts anticipate that Osisko Gold Royalties will post 0.62 earnings per share for the current fiscal year.

Osisko Gold Royalties Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.0457 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Monday, March 31st. Osisko Gold Royalties’s payout ratio is currently 188.89%.

Institutional Investors Weigh In On Osisko Gold Royalties

Institutional investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Osisko Gold Royalties in the 3rd quarter worth approximately $58,000. SBI Securities Co. Ltd. bought a new stake in Osisko Gold Royalties during the fourth quarter worth $57,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Osisko Gold Royalties in the fourth quarter worth $72,000. Northwest & Ethical Investments L.P. grew its stake in Osisko Gold Royalties by 11.0% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 6,292 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 626 shares during the period. Finally, Employees Retirement System of Texas bought a new position in Osisko Gold Royalties in the 4th quarter valued at $1,306,000. 68.52% of the stock is owned by institutional investors.

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.