Osisko Gold Royalties (NYSE:OR) Shares Gap Up – Here’s Why

Osisko Gold Royalties Ltd (NYSE:OR)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $18.60, but opened at $19.33. Osisko Gold Royalties shares last traded at $19.03, with a volume of 168,892 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price target on Osisko Gold Royalties from $19.00 to $22.00 and gave the company a “buy” rating in a report on Friday, October 4th. TD Cowen cut shares of Osisko Gold Royalties from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, 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.

Osisko Gold Royalties Price Performance

The stock has a market capitalization of $3.51 billion, a P/E ratio of -89.48 and a beta of 1.02. 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 stock has a 50-day simple moving average of $19.11 and a 200 day simple moving average of $18.26.

Osisko Gold Royalties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.048 dividend. This is a positive change from Osisko Gold Royalties’s previous quarterly dividend of $0.05. This represents a $0.19 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Tuesday, December 31st. Osisko Gold Royalties’s dividend payout ratio (DPR) is currently -90.48%.

Institutional Trading of Osisko Gold Royalties

Hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its stake in Osisko Gold Royalties by 9.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 39,178 shares of the basic materials company’s stock worth $610,000 after purchasing an additional 3,492 shares during the period. American Century Companies Inc. lifted its holdings in shares of Osisko Gold Royalties by 20.2% in the second quarter. American Century Companies Inc. now owns 565,066 shares of the basic materials company’s stock valued at $8,804,000 after purchasing an additional 95,000 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Osisko Gold Royalties by 12.9% during the second quarter. Renaissance Technologies LLC now owns 239,800 shares of the basic materials company’s stock worth $3,736,000 after buying an additional 27,400 shares in the last quarter. Moors & Cabot Inc. raised its position in Osisko Gold Royalties by 5.1% in the 2nd quarter. Moors & Cabot Inc. now owns 20,536 shares of the basic materials company’s stock valued at $320,000 after buying an additional 1,000 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Osisko Gold Royalties during the 2nd quarter worth approximately $294,000. 68.52% of the stock is currently 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.