Scotiabank Has Positive Outlook of OR FY2024 Earnings

Osisko Gold Royalties Ltd (NYSE:OR) – Equities research analysts at Scotiabank upped their FY2024 earnings per share (EPS) estimates for shares of Osisko Gold Royalties in a report released on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the basic materials company will post earnings of $0.49 per share for the year, up from their prior forecast of $0.48. The consensus estimate for Osisko Gold Royalties’ current full-year earnings is $0.48 per share.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group upped their price target on Osisko Gold Royalties from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, October 4th. TD Securities lowered Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, TD Cowen lowered Osisko Gold Royalties from a “buy” rating to a “hold” rating in a research note on Monday, November 11th.

Osisko Gold Royalties Trading Up 0.3 %

Shares of Osisko Gold Royalties stock opened at $18.65 on Friday. Osisko Gold Royalties has a 52-week low of $12.77 and a 52-week high of $21.29. The stock’s 50-day simple moving average is $19.07 and its 200 day simple moving average is $18.30. The stock has a market capitalization of $3.48 billion, a P/E ratio of -88.81 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.40 and a current ratio of 4.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in Osisko Gold Royalties by 12.9% during the 2nd quarter. Renaissance Technologies LLC now owns 239,800 shares of the basic materials company’s stock valued at $3,736,000 after purchasing an additional 27,400 shares during the period. Fiera Capital Corp boosted its holdings in Osisko Gold Royalties by 3.7% during the 3rd quarter. Fiera Capital Corp now owns 762,075 shares of the basic materials company’s stock valued at $14,133,000 after acquiring an additional 26,917 shares during the period. Polar Asset Management Partners Inc. purchased a new position in Osisko Gold Royalties during the 3rd quarter valued at $746,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Osisko Gold Royalties by 45.5% during the 3rd 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 valued at $7,783,000 after acquiring an additional 131,558 shares during the period. Finally, Mackenzie Financial Corp raised its position in Osisko Gold Royalties by 237.0% during the 2nd quarter. Mackenzie Financial Corp now owns 1,977,895 shares of the basic materials company’s stock valued at $30,827,000 after purchasing an additional 1,391,005 shares in the last quarter. 68.52% of the stock is owned by hedge funds and other institutional investors.

Osisko Gold Royalties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.048 dividend. This is a boost from Osisko Gold Royalties’s previous quarterly dividend of $0.05. This represents a $0.19 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Tuesday, December 31st. Osisko Gold Royalties’s dividend payout ratio is currently -90.48%.

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.