Osisko Gold Royalties (NYSE:OR) Price Target Raised to $24.00 at Royal Bank of Canada

Osisko Gold Royalties (NYSE:OR) had its price objective raised by Royal Bank of Canada from $23.00 to $24.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the basic materials company’s stock.

OR has been the subject of several other reports. TD Cowen cut shares of Osisko Gold Royalties from a “buy” rating to a “hold” rating in a report on Monday, November 11th. TD Securities cut shares of Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th.

Osisko Gold Royalties Price Performance

Shares of NYSE:OR opened at $20.42 on Tuesday. The company has a 50-day simple moving average of $18.86 and a 200-day simple moving average of $18.67. Osisko Gold Royalties has a one year low of $12.77 and a one year high of $21.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.40 and a current ratio of 4.40. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of -97.24 and a beta of 1.02.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new position in Osisko Gold Royalties during the second quarter worth about $288,000. U S Global Investors Inc. grew its position in Osisko Gold Royalties by 0.8% during the third quarter. U S Global Investors Inc. now owns 437,796 shares of the basic materials company’s stock worth $8,104,000 after buying an additional 3,364 shares during the period. International Assets Investment Management LLC acquired a new position in Osisko Gold Royalties during the third quarter worth about $286,000. US Bancorp DE grew its position in Osisko Gold Royalties by 32.1% during the third quarter. US Bancorp DE now owns 10,629 shares of the basic materials company’s stock worth $197,000 after buying an additional 2,584 shares during the period. Finally, Principal Financial Group Inc. grew its position in Osisko Gold Royalties by 5.7% during the third quarter. Principal Financial Group Inc. now owns 1,527,110 shares of the basic materials company’s stock worth $28,316,000 after buying an additional 82,150 shares during the period. 68.52% of the stock is 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.