Precision Wealth Strategies LLC Invests $1.73 Million in OR Royalties Inc. $OR

by · The Markets Daily

Precision Wealth Strategies LLC bought a new stake in shares of OR Royalties Inc. (NYSE:OR – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 43,216 shares of the basic materials company’s stock, valued at approximately $1,732,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Forge First Asset Management Inc. acquired a new stake in shares of OR Royalties during the second quarter worth $2,385,000. Horizon Kinetics Asset Management LLC boosted its holdings in shares of OR Royalties by 6.7% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 1,817,501 shares of the basic materials company’s stock valued at $46,728,000 after acquiring an additional 114,464 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of OR Royalties in the first quarter worth $248,000. Hsbc Holdings PLC purchased a new position in shares of OR Royalties during the first quarter worth $208,000. Finally, Picton Mahoney Asset Management acquired a new position in OR Royalties during the second quarter valued at $96,617,000. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on OR shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $38.00 price target on shares of OR Royalties in a research report on Sunday, December 7th. Wall Street Zen raised OR Royalties from a “buy” rating to a “strong-buy” rating in a report on Friday, November 28th. Canaccord Genuity Group upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Scotiabank lowered OR Royalties from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $33.00 to $41.00 in a research report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of OR Royalties in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.75.

Get Our Latest Analysis on OR

OR Royalties Price Performance

Shares of OR stock opened at $37.04 on Friday. The stock has a 50 day simple moving average of $33.92 and a 200-day simple moving average of $32.21. OR Royalties Inc. has a 1-year low of $17.55 and a 1-year high of $42.25. The company has a market cap of $6.96 billion, a price-to-earnings ratio of 46.89 and a beta of 0.81.

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

OR Royalties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.055 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.22 dividend on an annualized basis and a yield of 0.6%. OR Royalties’s dividend payout ratio (DPR) is currently 27.85%.

About OR Royalties

(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.

Further Reading

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