TD Asset Management Inc Has $20.72 Million Stake in OR Royalties Inc. (NYSE:OR)

TD Asset Management Inc decreased its position in OR Royalties Inc. (NYSE:OR) by 33.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 981,980 shares of the basic materials company’s stock after selling 486,333 shares during the quarter. TD Asset Management Inc’s holdings in OR Royalties were worth $20,724,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of OR Royalties by 20.4% in the fourth quarter. JPMorgan Chase & Co. now owns 20,402 shares of the basic materials company’s stock valued at $369,000 after acquiring an additional 3,455 shares during the last quarter. Bessemer Group Inc. increased its position in shares of OR Royalties by 155.1% in the first quarter. Bessemer Group Inc. now owns 55,100 shares of the basic materials company’s stock valued at $1,164,000 after acquiring an additional 33,500 shares during the last quarter. Vanguard Group Inc. increased its position in shares of OR Royalties by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 7,208,346 shares of the basic materials company’s stock valued at $130,529,000 after acquiring an additional 128,099 shares during the last quarter. Deutsche Bank AG increased its position in shares of OR Royalties by 629.2% in the fourth quarter. Deutsche Bank AG now owns 79,581 shares of the basic materials company’s stock valued at $1,440,000 after acquiring an additional 68,668 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of OR Royalties by 78.3% in the fourth quarter. Two Sigma Investments LP now owns 67,407 shares of the basic materials company’s stock valued at $1,220,000 after acquiring an additional 29,606 shares during the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

OR Royalties Trading Up 0.9%

Shares of NYSE:OR opened at $27.86 on Wednesday. OR Royalties Inc. has a 12-month low of $15.78 and a 12-month high of $28.87. The stock has a market cap of $5.24 billion, a PE ratio of 163.85 and a beta of 0.75. The business has a 50 day moving average of $26.39 and a 200-day moving average of $22.63. The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 0.06.

OR Royalties (NYSE:OR) last issued its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. OR Royalties had a return on equity of 8.66% and a net margin of 15.28%. The company had revenue of $54.92 million during the quarter, compared to analysts’ expectations of $79.63 million. As a group, equities research analysts forecast that OR Royalties Inc. will post 0.62 earnings per share for the current year.

OR Royalties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Monday, June 30th. This is a boost from OR Royalties’s previous quarterly dividend of $0.05. OR Royalties’s payout ratio is currently 111.76%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Scotiabank boosted their price target on OR Royalties from $26.00 to $28.00 and gave the stock a “sector outperform” rating in a research report on Monday, July 7th. Raymond James Financial reissued an “outperform” rating on shares of OR Royalties in a research report on Friday, April 4th. CIBC reissued an “outperform” rating on shares of OR Royalties in a research report on Tuesday, July 15th. Royal Bank Of Canada lowered their price target on OR Royalties from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, April 4th. Finally, Wall Street Zen downgraded OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, OR Royalties currently has a consensus rating of “Moderate Buy” and an average target price of $24.33.

About OR 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.