Scotiabank Has Lowered Expectations for Osisko Gold Royalties (NYSE:OR) Stock Price

Osisko Gold Royalties (NYSE:OR) had its price objective lowered by equities research analysts at Scotiabank from $31.00 to $22.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s target price suggests a potential upside of 22.13% from the company’s current price.

A number of other brokerages have also issued reports on OR. TD Securities lowered Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Royal Bank of Canada raised their price objective on Osisko Gold Royalties from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Finally, TD Cowen cut shares of 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $22.67.

Osisko Gold Royalties Stock Performance

Shares of NYSE OR traded down $0.63 during mid-day trading on Thursday, hitting $18.01. 426,534 shares of the company were exchanged, compared to its average volume of 619,726. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 199.97 and a beta of 1.02. The company has a quick ratio of 4.40, a current 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. The stock has a 50 day simple moving average of $18.84 and a 200-day simple moving average of $18.83.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $56.74 million during the quarter, compared to the consensus estimate of $68.31 million. Osisko Gold Royalties had a net margin of 8.50% and a return on equity of 7.94%. On average, sell-side analysts forecast that Osisko Gold Royalties will post 0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Osisko Gold Royalties

A number of hedge funds have recently modified their holdings of OR. Fiera Capital Corp lifted its holdings in Osisko Gold Royalties by 3.7% in the 3rd quarter. Fiera Capital Corp now owns 762,075 shares of the basic materials company’s stock worth $14,133,000 after purchasing an additional 26,917 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new stake in Osisko Gold Royalties during the third quarter worth $746,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Osisko Gold Royalties by 45.5% in the third 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 worth $7,783,000 after purchasing an additional 131,558 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of 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, Anson Funds Management LP boosted its stake in shares of Osisko Gold Royalties by 64.3% in the 3rd quarter. Anson Funds Management LP now owns 217,700 shares of the basic materials company’s stock valued at $4,032,000 after purchasing an additional 85,200 shares in the last quarter. 68.52% of the stock is owned by institutional investors and hedge funds.

Osisko Gold Royalties Company Profile

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.