Scotiabank Equities Analysts Boost Earnings Estimates for OR

Osisko Gold Royalties Ltd (NYSE:OR) – Analysts at Scotiabank boosted their FY2024 earnings estimates for shares of Osisko Gold Royalties in a report issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the basic materials company will earn $0.49 per share for the year, up from their previous estimate of $0.48. The consensus estimate for Osisko Gold Royalties’ current full-year earnings is $0.48 per share.

Other equities analysts have also recently issued reports about the company. TD Securities cut Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Jefferies Financial Group lifted their price target on shares of Osisko Gold Royalties from $19.00 to $22.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, TD Cowen lowered shares of Osisko Gold Royalties from a “buy” rating to a “hold” rating in a report on Monday, November 11th.

Osisko Gold Royalties Stock Performance

NYSE OR opened at $18.65 on Friday. The firm has a market cap of $3.48 billion, a P/E ratio of -88.81 and a beta of 1.02. Osisko Gold Royalties has a 52-week low of $12.77 and a 52-week high of $21.29. The business’s 50-day moving average price is $19.07 and its 200 day moving average price is $18.30. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 0.05.

Institutional Trading of Osisko Gold Royalties

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC raised its position in shares of Osisko Gold Royalties by 20.5% in the second quarter. Millennium Management LLC now owns 6,587,348 shares of the basic materials company’s stock valued at $102,631,000 after purchasing an additional 1,122,653 shares during the period. FMR LLC boosted its stake in shares of Osisko Gold Royalties by 1.9% in the 3rd quarter. FMR LLC now owns 4,484,929 shares of the basic materials company’s stock valued at $83,070,000 after purchasing an additional 83,799 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Osisko Gold Royalties by 237.0% in the 2nd quarter. Mackenzie Financial Corp now owns 1,977,895 shares of the basic materials company’s stock valued at $30,827,000 after purchasing an additional 1,391,005 shares in the last quarter. Principal Financial Group Inc. boosted its stake 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 valued at $28,316,000 after purchasing an additional 82,150 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in Osisko Gold Royalties by 53.9% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 965,801 shares of the basic materials company’s stock valued at $17,886,000 after buying an additional 338,354 shares during the last quarter. 68.52% of the stock is currently owned by institutional investors and hedge funds.

Osisko Gold Royalties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.048 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.19 dividend on an annualized basis and a yield of 1.03%. This is a positive change from Osisko Gold Royalties’s previous quarterly dividend of $0.05. Osisko Gold Royalties’s payout ratio is presently -90.48%.

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.