Osisko Gold Royalties Ltd (OR) Short Interest Down 55.4% in June

Osisko Gold Royalties Ltd (NYSE:OR) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 1,668,751 shares, a decrease of 55.4% from the June 15th total of 3,739,606 shares. Approximately 1.6% of the company’s shares are sold short. Based on an average daily volume of 1,390,848 shares, the days-to-cover ratio is currently 1.2 days.

Shares of Osisko Gold Royalties (NYSE OR) opened at 12.67 on Tuesday. Osisko Gold Royalties has a 52-week low of $8.88 and a 52-week high of $14.74. The company has a 50-day moving average of $12.25 and a 200-day moving average of $11.29. The stock has a market capitalization of $1.35 billion and a price-to-earnings ratio of 36.94.

The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a dividend of $0.0292 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Wednesday, June 28th. Osisko Gold Royalties’s dividend payout ratio (DPR) is presently 36.36%.

OR has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Osisko Gold Royalties from a “hold” rating to a “sell” rating in a research report on Wednesday, March 29th. TD Securities lowered shares of Osisko Gold Royalties to a “hold” rating and set a $19.00 price objective on the stock. in a research report on Tuesday, June 6th. Finally, Raymond James Financial, Inc. initiated coverage on shares of Osisko Gold Royalties in a research report on Thursday, June 15th. They issued an “outperform” rating and a $20.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $17.67.

A number of institutional investors have recently modified their holdings of the company. Van ECK Associates Corp increased its position in shares of Osisko Gold Royalties by 18.0% in the first quarter. Van ECK Associates Corp now owns 20,701,923 shares of the basic materials company’s stock worth $229,791,000 after buying an additional 3,156,945 shares during the period. Norges Bank purchased a new position in shares of Osisko Gold Royalties during the fourth quarter worth approximately $5,290,000. Tocqueville Asset Management L.P. increased its position in shares of Osisko Gold Royalties by 6.1% in the first quarter. Tocqueville Asset Management L.P. now owns 5,490,736 shares of the basic materials company’s stock worth $60,871,000 after buying an additional 315,000 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Osisko Gold Royalties during the fourth quarter worth approximately $2,159,000. Finally, Morgan Stanley increased its position in shares of Osisko Gold Royalties by 128.0% in the first quarter. Morgan Stanley now owns 387,548 shares of the basic materials company’s stock worth $4,302,000 after buying an additional 217,566 shares during the period. 61.36% of the stock is currently owned by institutional investors.

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