Osisko Gold Royalties (NYSE:OR) Shares Up 5.6% – Here’s Why

Osisko Gold Royalties Ltd (NYSE:OR)’s share price traded up 5.6% during mid-day trading on Tuesday . The company traded as high as $18.96 and last traded at $18.95. 182,413 shares were traded during mid-day trading, a decline of 76% from the average session volume of 754,452 shares. The stock had previously closed at $17.95.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OR. Scotiabank dropped their price objective on shares of Osisko Gold Royalties from $31.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada boosted their target price on shares of Osisko Gold Royalties from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.67.

Osisko Gold Royalties Stock Performance

The company has a fifty day moving average price of $18.88 and a two-hundred day moving average price of $18.91. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.40 and a quick ratio of 4.40. The company has a market capitalization of $3.63 billion, a P/E ratio of 216.47 and a beta of 0.96.

Osisko Gold Royalties (NYSE:OR) last released its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $56.74 million during the quarter, compared to the consensus estimate of $68.31 million. Osisko Gold Royalties had a net margin of 8.50% and a return on equity of 7.94%. Equities analysts forecast that Osisko Gold Royalties Ltd will post 0.62 earnings per share for the current fiscal year.

Osisko Gold Royalties Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.0457 dividend. This represents a $0.18 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Monday, March 31st. Osisko Gold Royalties’s dividend payout ratio (DPR) is presently 200.00%.

Institutional Trading of Osisko Gold Royalties

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Osisko Gold Royalties during the fourth quarter worth $60,364,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Osisko Gold Royalties by 352.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,099,521 shares of the basic materials company’s stock worth $74,160,000 after purchasing an additional 3,194,173 shares in the last quarter. Tidal Investments LLC acquired a new stake in Osisko Gold Royalties in the 4th quarter valued at $34,209,000. FMR LLC increased its stake in Osisko Gold Royalties by 25.2% during the 4th quarter. FMR LLC now owns 5,613,898 shares of the basic materials company’s stock valued at $101,659,000 after purchasing an additional 1,128,969 shares in the last quarter. Finally, Norges Bank acquired a new position in Osisko Gold Royalties during the fourth quarter worth $11,683,000. Institutional investors own 68.52% of the company’s stock.

About Osisko Gold Royalties

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.