Osisko Gold Royalties (NYSE:OR) Shares Gap Up – Should You Buy?

Osisko Gold Royalties Ltd (NYSE:OR)’s stock price gapped up before the market opened 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.

Analyst Ratings Changes

OR has been the subject of several analyst reports. TD Cowen cut Osisko Gold Royalties from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Jefferies Financial Group raised their price target 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. Finally, TD Securities cut Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th.

Osisko Gold Royalties Stock Up 1.0 %

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’s 50 day moving average price is $19.11 and its two-hundred day moving average price is $18.26. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -89.48 and a beta of 1.02.

Osisko Gold Royalties Increases Dividend

The firm also recently disclosed 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. This is a positive change from Osisko Gold Royalties’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, December 31st. This represents a $0.19 annualized dividend and a yield of 1.02%. Osisko Gold Royalties’s dividend payout ratio is currently -90.48%.

Institutional Investors Weigh In On Osisko Gold Royalties

Hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp boosted its stake in Osisko Gold Royalties by 237.0% in the second quarter. Mackenzie Financial Corp now owns 1,977,895 shares of the basic materials company’s stock valued at $30,827,000 after buying an additional 1,391,005 shares in the last quarter. Millennium Management LLC grew its stake in shares of Osisko Gold Royalties by 20.5% during the second quarter. Millennium Management LLC now owns 6,587,348 shares of the basic materials company’s stock worth $102,631,000 after buying an additional 1,122,653 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Osisko Gold Royalties by 190.5% during the third quarter. The Manufacturers Life Insurance Company now owns 796,804 shares of the basic materials company’s stock worth $14,766,000 after buying an additional 522,551 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. increased its holdings in shares of Osisko Gold Royalties by 53.9% during the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 965,801 shares of the basic materials company’s stock worth $17,886,000 after buying an additional 338,354 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Osisko Gold Royalties by 45.5% in the 3rd 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 valued at $7,783,000 after acquiring an additional 131,558 shares during the last quarter. 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.