Osisko Gold Royalties (NYSE:OR) Shares Gap Down – Here’s What Happened

Shares of Osisko Gold Royalties Ltd (NYSE:OR) gapped down prior to trading on Monday . The stock had previously closed at $20.11, but opened at $19.39. Osisko Gold Royalties shares last traded at $19.60, with a volume of 593 shares trading hands.

Analyst Upgrades and Downgrades

OR has been the topic of several recent analyst reports. TD Securities lowered shares of Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Jefferies Financial Group upped their price objective on Osisko Gold Royalties from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, October 4th. TD Cowen downgraded Osisko Gold Royalties from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada decreased their target price on Osisko Gold Royalties from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th.

Osisko Gold Royalties Stock Performance

The stock’s 50 day moving average is $19.44 and its 200 day moving average is $17.71. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 0.05. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -92.62 and a beta of 1.03.

Osisko Gold Royalties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 is an increase from Osisko Gold Royalties’s previous quarterly dividend of $0.05. This represents a $0.19 annualized dividend and a yield of 0.99%. Osisko Gold Royalties’s payout ratio is -90.48%.

Hedge Funds Weigh In On Osisko Gold Royalties

Institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its holdings in Osisko Gold Royalties by 125.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,645 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 916 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Osisko Gold Royalties in the third quarter valued at approximately $58,000. Point72 DIFC Ltd bought a new stake in shares of Osisko Gold Royalties in the second quarter valued at approximately $71,000. Icon Wealth Advisors LLC acquired a new stake in Osisko Gold Royalties during the third quarter worth approximately $187,000. Finally, US Bancorp DE increased its stake in Osisko Gold Royalties by 32.1% during the 3rd quarter. US Bancorp DE now owns 10,629 shares of the basic materials company’s stock worth $197,000 after acquiring an additional 2,584 shares during the period. 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.