Wall Street Zen Downgrades OR Royalties (NYSE:OR) to Buy

by · The Cerbat Gem

OR Royalties (NYSE:OR – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Sunday.

A number of other research analysts have also issued reports on OR. Raymond James Financial upgraded shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research note on Thursday, November 6th. Zacks Research lowered OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Canaccord Genuity Group upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings restated a “buy (b)” rating on shares of OR Royalties in a research note on Monday, December 29th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $38.00 target price on shares of OR Royalties in a research report on Sunday, December 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

View Our Latest Report on OR Royalties

OR Royalties Trading Up 4.0%

Shares of OR stock opened at $40.14 on Friday. OR Royalties has a twelve month low of $17.55 and a twelve month high of $42.25. The stock has a fifty day simple moving average of $34.72 and a two-hundred day simple moving average of $33.22. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 50.80 and a beta of 0.78.

OR Royalties (NYSE:OR – Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. OR Royalties had a net margin of 60.72% and a return on equity of 10.67%. The firm had revenue of $71.63 million for the quarter, compared to the consensus estimate of $53.85 million. Research analysts predict that OR Royalties will post 0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in OR Royalties by 20.5% during the third quarter. Van ECK Associates Corp now owns 15,561,057 shares of the basic materials company’s stock worth $623,686,000 after buying an additional 2,650,333 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of OR Royalties by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 7,679,045 shares of the basic materials company’s stock worth $307,776,000 after acquiring an additional 233,504 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of OR Royalties by 39.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,543,667 shares of the basic materials company’s stock valued at $302,419,000 after acquiring an additional 2,124,421 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in shares of OR Royalties during the 2nd quarter valued at about $96,617,000. Finally, Tidal Investments LLC grew its holdings in shares of OR Royalties by 25.4% in the third quarter. Tidal Investments LLC now owns 2,347,760 shares of the basic materials company’s stock valued at $94,098,000 after purchasing an additional 474,840 shares during the period. Hedge funds and other institutional investors own 68.52% of the company’s stock.

OR Royalties Company Profile

(Get Free Report)

OR Royalties PLC (NYSE: OR) is a closed-ended investment company that specializes in acquiring and managing royalty interests in life science and pharmaceutical products. The company provides capital to biotechnology, specialty pharmaceutical and medical device companies in exchange for a share of future sales revenues. By focusing on royalties secured against marketed products, OR Royalties aims to deliver income and growth potential while minimizing the development and commercialization risks typically associated with direct equity stakes.

The company’s core activities include sourcing royalty transactions, structuring bespoke financing solutions and actively monitoring a diversified portfolio of assets.

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