Osisko Gold Royalties (NYSE:OR) Given New $22.00 Price Target at Scotiabank

Osisko Gold Royalties (NYSE:OR) had its price target reduced by Scotiabank from $31.00 to $22.00 in a report issued on Thursday,Benzinga reports. They currently have a sector perform rating on the basic materials company’s stock.

OR has been the topic of several other research reports. Royal Bank of Canada boosted their price target on shares of Osisko Gold Royalties from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. TD Securities lowered shares of Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, TD Cowen downgraded Osisko Gold Royalties from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.67.

Osisko Gold Royalties Price Performance

Shares of NYSE OR opened at $17.94 on Thursday. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 199.30 and a beta of 1.02. The stock has a fifty day simple moving average of $18.83 and a two-hundred day simple moving average of $18.83. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 0.05. Osisko Gold Royalties has a 1-year low of $13.66 and a 1-year high of $21.29.

Osisko Gold Royalties (NYSE:OR) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Osisko Gold Royalties had a return on equity of 7.94% and a net margin of 8.50%. The company had revenue of $56.74 million during the quarter, compared to the consensus estimate of $68.31 million. Analysts anticipate that Osisko Gold Royalties will post 0.62 earnings per share for the current year.

Osisko Gold Royalties Cuts Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, March 31st. This represents a $0.18 annualized dividend and a yield of 1.02%. Osisko Gold Royalties’s dividend payout ratio is currently 188.89%.

Institutional Trading of Osisko Gold Royalties

Several institutional investors and hedge funds have recently bought and sold shares of OR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Osisko Gold Royalties in the fourth quarter worth $60,364,000. Arrowstreet Capital Limited Partnership grew its position in Osisko Gold Royalties by 352.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,099,521 shares of the basic materials company’s stock worth $74,160,000 after buying an additional 3,194,173 shares in the last quarter. Tidal Investments LLC bought a new position in Osisko Gold Royalties in the 4th quarter worth about $34,209,000. FMR LLC raised its holdings in shares of Osisko Gold Royalties by 25.2% in the 4th quarter. FMR LLC now owns 5,613,898 shares of the basic materials company’s stock valued at $101,659,000 after acquiring an additional 1,128,969 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Osisko Gold Royalties during the 4th quarter valued at about $11,683,000. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

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.