Osisko Gold Royalties (NYSE:OR) Shares Gap Down – Time to Sell?

Osisko Gold Royalties Ltd (NYSE:OR) shares gapped down before the market opened 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.

Analyst Upgrades and Downgrades

Several research firms have commented on OR. TD Securities lowered shares of Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Jefferies Financial Group increased their price target on shares of Osisko Gold Royalties from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. TD Cowen downgraded shares of Osisko Gold Royalties from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada reduced 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 has a market cap of $3.63 billion, a price-to-earnings ratio of -92.62 and a beta of 1.03. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 0.05. The company has a 50 day simple moving average of $19.44 and a 200 day simple moving average of $17.71.

Osisko Gold Royalties Increases Dividend

The business also recently disclosed 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. This is an increase from Osisko Gold Royalties’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.19 annualized dividend and a yield of 0.99%. Osisko Gold Royalties’s dividend payout ratio is presently -90.48%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD acquired a new position in Osisko Gold Royalties in the 1st quarter worth about $109,825,000. Mackenzie Financial Corp grew its holdings in shares of Osisko Gold Royalties by 237.0% during the second quarter. Mackenzie Financial Corp now owns 1,977,895 shares of the basic materials company’s stock worth $30,827,000 after purchasing an additional 1,391,005 shares during the last quarter. Millennium Management LLC increased its stake 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 buying an additional 1,122,653 shares during the period. Yaupon Capital Management LP bought a new position in Osisko Gold Royalties in the 1st quarter valued at approximately $15,973,000. Finally, The Manufacturers Life Insurance Company boosted its position in Osisko Gold Royalties by 190.5% during the 3rd 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 during the period. 68.52% of the stock is currently owned by institutional investors.

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.