Osisko Gold Royalties (NYSE:OR) Price Target Raised to $24.00 at Royal Bank of Canada

Osisko Gold Royalties (NYSE:OR) had its price target lifted by stock analysts at Royal Bank of Canada from $23.00 to $24.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price target points to a potential upside of 21.67% from the stock’s previous close.

Several other research firms have also issued reports on OR. TD Securities lowered shares of Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. TD Cowen lowered shares of Osisko Gold Royalties from a “buy” rating to a “hold” rating in a report on Monday, November 11th.

Osisko Gold Royalties Trading Down 1.4 %

Shares of OR stock traded down $0.28 during trading hours on Tuesday, hitting $19.73. 211,865 shares of the company’s stock traded hands, compared to its average volume of 510,595. Osisko Gold Royalties has a 12 month low of $12.77 and a 12 month high of $21.29. The stock’s 50 day simple moving average is $18.83 and its 200 day simple moving average is $18.64. The stock has a market cap of $3.68 billion, a PE ratio of -93.88 and a beta of 1.02. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 0.05.

Hedge Funds Weigh In On Osisko Gold Royalties

A number of hedge funds have recently modified their holdings of OR. Capital Performance Advisors LLP bought a new stake in shares of Osisko Gold Royalties in the 3rd quarter valued at approximately $58,000. SBI Securities Co. Ltd. acquired a new stake in shares of Osisko Gold Royalties in the fourth quarter valued at about $57,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in Osisko Gold Royalties during the fourth quarter worth about $72,000. Northwest & Ethical Investments L.P. boosted its holdings in shares of Osisko Gold Royalties by 11.0% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,292 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 626 shares during the period. Finally, Icon Wealth Advisors LLC acquired a new position in Osisko Gold Royalties during the third quarter valued at approximately $187,000. 68.52% of the stock is currently owned by institutional investors and hedge funds.

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.