Osisko Gold Royalties (NYSE:OR) Shares Up 3.2% – Time to Buy?

Osisko Gold Royalties Ltd (NYSE:OR) shares rose 3.2% during trading on Thursday . The company traded as high as $21.24 and last traded at $21.07. Approximately 680,802 shares traded hands during trading, a decline of 17% from the average daily volume of 815,401 shares. The stock had previously closed at $20.41.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. National Bankshares restated an “outperform” rating on shares of Osisko Gold Royalties in a research report on Wednesday, April 2nd. Raymond James restated an “outperform” rating on shares of Osisko Gold Royalties in a research report on Friday, April 4th. Royal Bank of Canada cut their price target on Osisko Gold Royalties from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, April 4th. Finally, Scotiabank reduced their price objective on Osisko Gold Royalties from $31.00 to $22.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.33.

Osisko Gold Royalties Price Performance

The company has a fifty day simple moving average of $19.62 and a 200-day simple moving average of $19.34. The company has a market cap of $4.08 billion, a P/E ratio of 242.94 and a beta of 0.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.40 and a quick ratio of 4.40.

Osisko Gold Royalties (NYSE:OR) last released 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. 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 for the quarter, compared to analysts’ expectations of $68.31 million. On average, sell-side analysts predict that Osisko Gold Royalties Ltd will post 0.62 earnings per share for the current year.

Osisko Gold Royalties Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued 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 0.84%. Osisko Gold Royalties’s dividend payout ratio (DPR) is presently 200.00%.

Institutional Trading of Osisko Gold Royalties

A number of institutional investors and hedge funds have recently modified their holdings of OR. SBI Securities Co. Ltd. bought a new stake in shares of Osisko Gold Royalties in the fourth quarter valued at approximately $57,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Osisko Gold Royalties in the 4th quarter worth about $72,000. Northwest & Ethical Investments L.P. increased its holdings in shares of Osisko Gold Royalties by 11.0% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,292 shares of the basic materials company’s stock worth $114,000 after buying an additional 626 shares in the last quarter. Employees Retirement System of Texas bought a new position in Osisko Gold Royalties in the 4th quarter valued at $131,000. Finally, Franklin Resources Inc. raised its holdings in shares of Osisko Gold Royalties by 4.5% in the fourth quarter. Franklin Resources Inc. now owns 12,282 shares of the basic materials company’s stock valued at $222,000 after buying an additional 534 shares during the last quarter. 68.52% of the stock is currently owned by institutional investors and hedge funds.

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.