Osisko Gold Royalties (NYSE:OR) Price Target Raised to $22.00 at Jefferies Financial Group

Osisko Gold Royalties (NYSE:OR) had its price target hoisted by Jefferies Financial Group from $19.00 to $22.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

OR has been the subject of a number of other research reports. TD Securities raised shares of Osisko Gold Royalties to a strong-buy rating in a research report on Monday, July 22nd. Royal Bank of Canada decreased their target price on shares of Osisko Gold Royalties from $21.00 to $20.00 and set an outperform rating on the stock in a research note on Tuesday, September 10th.

Osisko Gold Royalties Stock Performance

Shares of OR traded down $0.24 during mid-day trading on Friday, hitting $18.61. The company’s stock had a trading volume of 567,983 shares, compared to its average volume of 760,634. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.92 and a current ratio of 4.92. The firm has a market capitalization of $3.46 billion, a PE ratio of -88.57 and a beta of 1.04. The stock’s 50-day moving average is $17.52 and its two-hundred day moving average is $16.74. Osisko Gold Royalties has a one year low of $11.43 and a one year high of $19.03.

Osisko Gold Royalties (NYSE:OR) last issued its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Osisko Gold Royalties had a negative net margin of 36.71% and a positive return on equity of 6.80%. The company had revenue of $47.39 million during the quarter. As a group, sell-side analysts anticipate that Osisko Gold Royalties will post 0.48 EPS for the current year.

Osisko Gold Royalties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.047 per share. This represents a $0.19 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Monday, September 30th. Osisko Gold Royalties’s dividend payout ratio (DPR) is presently -90.48%.

Hedge Funds Weigh In On Osisko Gold Royalties

A number of hedge funds have recently bought and sold shares of OR. EdgePoint Investment Group Inc. raised its stake in shares of Osisko Gold Royalties by 2.1% in the first quarter. EdgePoint Investment Group Inc. now owns 24,728,134 shares of the basic materials company’s stock worth $406,002,000 after buying an additional 501,485 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Osisko Gold Royalties by 3.7% during the 1st quarter. Van ECK Associates Corp now owns 21,012,286 shares of the basic materials company’s stock valued at $345,021,000 after purchasing an additional 745,973 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Osisko Gold Royalties by 0.9% during the first quarter. Vanguard Group Inc. now owns 6,796,280 shares of the basic materials company’s stock valued at $111,595,000 after purchasing an additional 60,083 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in Osisko Gold Royalties during the first quarter valued at $109,825,000. Finally, Millennium Management LLC grew its stake in shares of Osisko Gold Royalties by 20.5% in the 2nd quarter. Millennium Management LLC now owns 6,587,348 shares of the basic materials company’s stock worth $102,631,000 after buying an additional 1,122,653 shares in the last quarter. Hedge funds and other institutional investors 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.