Osisko Gold Royalties Ltd (NYSE:OR) Stake Reduced by Invesco Ltd.

Invesco Ltd. trimmed its stake in Osisko Gold Royalties Ltd (NYSE:OR) by 27.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,315,535 shares of the basic materials company’s stock after selling 508,359 shares during the quarter. Invesco Ltd.’s holdings in Osisko Gold Royalties were worth $23,811,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in Osisko Gold Royalties in the 3rd quarter valued at about $852,000. Barclays PLC raised its holdings in shares of Osisko Gold Royalties by 16.8% during the third quarter. Barclays PLC now owns 159,408 shares of the basic materials company’s stock valued at $2,951,000 after buying an additional 22,898 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Osisko Gold Royalties by 8.4% during the third quarter. Geode Capital Management LLC now owns 80,465 shares of the basic materials company’s stock worth $1,498,000 after buying an additional 6,251 shares during the period. Principal Financial Group Inc. grew its holdings in Osisko Gold Royalties by 5.7% in the 3rd 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 in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Osisko Gold Royalties by 58.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,947 shares of the basic materials company’s stock valued at $314,000 after acquiring an additional 6,237 shares during the period. Institutional investors and hedge funds own 68.52% of the company’s stock.

Osisko Gold Royalties Trading Down 1.6 %

NYSE:OR opened at $23.35 on Friday. 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 company has a market capitalization of $4.37 billion, a P/E ratio of 259.40 and a beta of 0.88. The stock’s 50 day moving average price is $20.09 and its 200 day moving average price is $19.54. Osisko Gold Royalties Ltd has a 52 week low of $15.12 and a 52 week high of $24.07.

Osisko Gold Royalties (NYSE:OR) last posted 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. The company had revenue of $56.74 million for the quarter, compared to analyst estimates of $68.31 million. Osisko Gold Royalties had a return on equity of 7.94% and a net margin of 8.50%. On average, research analysts forecast that Osisko Gold Royalties Ltd will post 0.62 EPS for the current fiscal year.

Osisko Gold Royalties Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.0457 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Monday, March 31st. Osisko Gold Royalties’s payout ratio is 200.00%.

Analyst Ratings Changes

OR has been the subject of several research analyst reports. Scotiabank raised shares of Osisko Gold Royalties from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $22.00 to $24.00 in a report on Monday, April 14th. National Bankshares reissued an “outperform” rating on shares of Osisko Gold Royalties in a research note on Wednesday, April 2nd. Royal Bank of Canada dropped their target price on shares of Osisko Gold Royalties from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, April 4th. Finally, Raymond James reissued an “outperform” rating on shares of Osisko Gold Royalties in a research report on Friday, April 4th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

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.