Osisko Gold Royalties Ltd (NYSE:OR) Position Trimmed by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. decreased its position in shares of Osisko Gold Royalties Ltd (NYSE:OR) by 20.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 232,170 shares of the basic materials company’s stock after selling 58,684 shares during the quarter. Osisko Gold Royalties comprises about 1.4% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 22nd largest holding. PCJ Investment Counsel Ltd. owned about 0.12% of Osisko Gold Royalties worth $4,300,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD bought a new stake in Osisko Gold Royalties in the first quarter worth about $109,825,000. Bornite Capital Management LP bought a new stake in Osisko Gold Royalties during the first quarter worth approximately $33,370,000. Mackenzie Financial Corp boosted its position in shares of Osisko Gold Royalties by 237.0% in the second quarter. Mackenzie Financial Corp now owns 1,977,895 shares of the basic materials company’s stock valued at $30,827,000 after acquiring an additional 1,391,005 shares during the period. Millennium Management LLC raised its stake in shares of Osisko Gold Royalties by 20.5% in the second quarter. Millennium Management LLC now owns 6,587,348 shares of the basic materials company’s stock valued at $102,631,000 after purchasing an additional 1,122,653 shares in the last quarter. Finally, Yaupon Capital Management LP acquired a new position in shares of Osisko Gold Royalties in the first quarter valued at $15,973,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

Analysts Set New Price Targets

OR has been the subject of a number of research reports. TD Cowen lowered Osisko Gold Royalties from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Royal Bank of Canada dropped their price objective on Osisko Gold Royalties from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. TD Securities cut Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group upped their price objective on Osisko Gold Royalties from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, October 4th.

Osisko Gold Royalties Stock Performance

Shares of NYSE OR opened at $19.74 on Wednesday. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of -91.24 and a beta of 1.03. Osisko Gold Royalties Ltd has a one year low of $12.20 and a one year high of $21.29. 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 stock’s fifty day moving average price is $19.25 and its two-hundred day moving average price is $17.60.

Osisko Gold Royalties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.048 per share. This is a positive change from Osisko Gold Royalties’s previous quarterly dividend of $0.05. This represents a $0.19 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Tuesday, December 31st. Osisko Gold Royalties’s dividend payout ratio is -90.48%.

Osisko Gold Royalties 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.