Osisko Gold Royalties Ltd (NYSE:OR) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 1,668,751 shares, a drop of 55.4% from the June 15th total of 3,739,606 shares. Based on an average daily trading volume, of 1,390,848 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.6% of the shares of the stock are sold short.
Large investors have recently modified their holdings of the stock. Cidel Asset Management Inc. boosted its stake in shares of Osisko Gold Royalties by 0.4% in the second quarter. Cidel Asset Management Inc. now owns 47,700 shares of the basic materials company’s stock valued at $582,000 after buying an additional 200 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Osisko Gold Royalties by 5.6% in the second quarter. Legal & General Group Plc now owns 12,979 shares of the basic materials company’s stock valued at $158,000 after buying an additional 693 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Osisko Gold Royalties by 7.5% in the first quarter. Bank of New York Mellon Corp now owns 30,399 shares of the basic materials company’s stock valued at $338,000 after buying an additional 2,130 shares in the last quarter. Swiss National Bank boosted its stake in shares of Osisko Gold Royalties by 1.6% in the first quarter. Swiss National Bank now owns 175,730 shares of the basic materials company’s stock valued at $1,953,000 after buying an additional 2,700 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Osisko Gold Royalties by 6.3% in the first quarter. UBS Group AG now owns 72,215 shares of the basic materials company’s stock valued at $802,000 after buying an additional 4,254 shares in the last quarter. Institutional investors own 61.23% of the company’s stock.
Several research firms recently weighed in on OR. TD Securities lowered Osisko Gold Royalties to a “hold” rating and set a $19.00 price objective on the stock. in a research note on Tuesday, June 6th. Raymond James Financial, Inc. started coverage on Osisko Gold Royalties in a research note on Thursday, June 15th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Zacks Investment Research raised Osisko Gold Royalties from a “sell” rating to a “hold” rating in a research note on Friday, June 9th.
Shares of Osisko Gold Royalties (NYSE OR) traded up 0.63% during mid-day trading on Friday, hitting $12.69. The stock had a trading volume of 470,393 shares. The firm has a 50 day moving average price of $12.44 and a 200-day moving average price of $11.52. The stock has a market cap of $1.99 billion and a P/E ratio of 41.07. Osisko Gold Royalties has a 12 month low of $8.88 and a 12 month high of $13.35.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be issued a $0.0401 dividend. This is a boost from Osisko Gold Royalties’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, September 28th. Osisko Gold Royalties’s dividend payout ratio is presently 40.00%.
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Osisko Gold Royalties Company Profile
Osisko Gold Royalties Ltd. acquires and manages precious metal and other royalties and streams, and similar interests in the Americas. It has 5% net smelter returns (NSR) royalty on the Canadian Malartic property located in the province of Québec, Canada; and 2% to 3.5% NSR royalty on the Éléonore mine situated in the James Bay area in Québec, Canada.
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