Royal Bank of Canada Cuts Osisko Gold Royalties (NYSE:OR) Price Target to $23.00

Osisko Gold Royalties (NYSE:OR) had its target price trimmed by Royal Bank of Canada from $24.00 to $23.00 in a research note released on Friday,Benzinga reports. The brokerage currently has an outperform rating on the basic materials company’s stock.

Separately, Scotiabank dropped their price target on Osisko Gold Royalties from $31.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.33.

Osisko Gold Royalties Stock Down 5.5 %

Shares of NYSE:OR opened at $19.83 on Friday. The firm has a 50 day simple moving average of $19.49 and a 200-day simple moving average of $19.30. Osisko Gold Royalties has a twelve month low of $15.12 and a twelve month high of $21.42. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $3.70 billion, a PE ratio of 220.37 and a beta of 0.88.

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 for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $56.74 million during the quarter, compared to analysts’ expectations of $68.31 million. Osisko Gold Royalties had a net margin of 8.50% and a return on equity of 7.94%. On average, equities analysts predict that Osisko Gold Royalties will post 0.62 EPS for the current fiscal year.

Osisko Gold Royalties Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.0457 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.18 annualized dividend and a dividend yield of 0.92%. Osisko Gold Royalties’s dividend payout ratio (DPR) is 200.00%.

Hedge Funds Weigh In On Osisko Gold Royalties

Several institutional investors have recently added to or reduced their stakes in OR. FMR LLC grew its stake in shares of Osisko Gold Royalties by 1.9% in the 3rd quarter. FMR LLC now owns 4,484,929 shares of the basic materials company’s stock valued at $83,070,000 after purchasing an additional 83,799 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Osisko Gold Royalties by 45.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 420,462 shares of the basic materials company’s stock worth $7,783,000 after purchasing an additional 131,558 shares during the period. Polar Asset Management Partners Inc. purchased a new position in Osisko Gold Royalties in the 3rd quarter valued at $746,000. Anson Funds Management LP increased its stake in Osisko Gold Royalties by 64.3% in the 3rd quarter. Anson Funds Management LP now owns 217,700 shares of the basic materials company’s stock valued at $4,032,000 after buying an additional 85,200 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in Osisko Gold Royalties during the 3rd quarter worth $319,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

About Osisko Gold 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.