Osisko Gold Royalties (NYSE:OR) Reaches New 1-Year High – Here’s What Happened

Osisko Gold Royalties Ltd (NYSE:OR)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $23.55 and last traded at $23.27, with a volume of 735674 shares trading hands. The stock had previously closed at $22.76.

Analysts Set New Price Targets

Several research firms recently issued reports on OR. Royal Bank of Canada reduced their price target on Osisko Gold Royalties from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. Raymond James reaffirmed an “outperform” rating on shares of Osisko Gold Royalties in a research report on Friday, April 4th. National Bankshares restated an “outperform” rating on shares of Osisko Gold Royalties in a research report on Wednesday, April 2nd. Finally, Scotiabank upgraded Osisko Gold Royalties from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $22.00 to $24.00 in a research note on Monday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Osisko Gold Royalties has an average rating of “Moderate Buy” and an average price target of $23.00.

Osisko Gold Royalties Price Performance

The company’s 50-day moving average is $19.87 and its 200-day moving average is $19.45. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 258.50 and a beta of 0.88. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 0.05.

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

Osisko Gold Royalties Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.0457 per share. The ex-dividend date was Monday, March 31st. This represents a $0.18 annualized dividend and a yield of 0.79%. Osisko Gold Royalties’s dividend payout ratio is presently 200.00%.

Hedge Funds Weigh In On Osisko Gold Royalties

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new stake in shares of Osisko Gold Royalties in the fourth quarter worth $57,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Osisko Gold Royalties in the 4th quarter valued at about $72,000. Northwest & Ethical Investments L.P. increased its stake in shares of Osisko Gold Royalties by 11.0% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,292 shares of the basic materials company’s stock valued at $114,000 after buying an additional 626 shares during the period. Employees Retirement System of Texas bought a new position in shares of Osisko Gold Royalties during the fourth quarter worth about $1,306,000. Finally, Franklin Resources Inc. lifted its stake in shares of Osisko Gold Royalties by 4.5% in the fourth quarter. Franklin Resources Inc. now owns 12,282 shares of the basic materials company’s stock worth $222,000 after acquiring an additional 534 shares during the period. 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.