Osisko Gold Royalties (NYSE:OR) Raised to Sector Outperform at Scotiabank

Scotiabank upgraded shares of Osisko Gold Royalties (NYSE:OR) from a sector perform rating to a sector outperform rating in a report published on Monday, MarketBeat.com reports. Scotiabank currently has $24.00 target price on the basic materials company’s stock, up from their prior target price of $22.00.

A number of other equities analysts have also issued reports on the company. Royal Bank of Canada cut their target price on Osisko Gold Royalties from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, April 4th. Raymond James restated an “outperform” rating on shares of Osisko Gold Royalties in a research note on Friday, April 4th. Finally, National Bankshares restated an “outperform” rating on shares of Osisko Gold Royalties in a research note on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.00.

Osisko Gold Royalties Trading Up 1.7 %

Shares of OR opened at $22.79 on Monday. The firm has a market capitalization of $4.26 billion, a P/E ratio of 253.22 and a beta of 0.88. Osisko Gold Royalties has a twelve month low of $15.12 and a twelve month high of $23.53. 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 stock’s fifty day simple moving average is $19.80 and its 200 day simple moving average is $19.42.

Osisko Gold Royalties (NYSE:OR) last posted its earnings results on Wednesday, February 19th. The basic materials company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $56.74 million for the quarter, compared to analyst estimates 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 research analysts forecast that Osisko Gold Royalties 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 will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.0457 per share. This represents a $0.18 annualized dividend and a yield of 0.80%. The ex-dividend date is Monday, March 31st. Osisko Gold Royalties’s dividend payout ratio is presently 200.00%.

Hedge Funds Weigh In On Osisko Gold Royalties

Hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new stake in shares of Osisko Gold Royalties in the fourth quarter valued at $57,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Osisko Gold Royalties during the 4th quarter worth about $72,000. Northwest & Ethical Investments L.P. raised its position 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 purchasing an additional 626 shares during the period. Employees Retirement System of Texas acquired a new position in Osisko Gold Royalties during the 4th quarter worth $131,000. Finally, Franklin Resources Inc. boosted its stake in Osisko Gold Royalties by 4.5% during the 4th quarter. Franklin Resources Inc. now owns 12,282 shares of the basic materials company’s stock valued at $222,000 after purchasing 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.