Connor Clark & Lunn Investment Management Ltd. Lowers Position in Osisko Gold Royalties Ltd (NYSE:OR)

Connor Clark & Lunn Investment Management Ltd. cut its position in Osisko Gold Royalties Ltd (NYSE:OR - Free Report) by 26.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,026,171 shares of the basic materials company's stock after selling 1,061,153 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 1.62% of Osisko Gold Royalties worth $56,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. EdgePoint Investment Group Inc. lifted its stake in shares of Osisko Gold Royalties by 2.1% during the 1st quarter. EdgePoint Investment Group Inc. now owns 24,728,134 shares of the basic materials company's stock valued at $406,002,000 after buying an additional 501,485 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Osisko Gold Royalties by 0.9% in the first quarter. Vanguard Group Inc. now owns 6,796,280 shares of the basic materials company's stock valued at $111,595,000 after acquiring an additional 60,083 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in shares of Osisko Gold Royalties in the first quarter valued at about $109,825,000. Millennium Management LLC boosted its stake in 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. Finally, CIBC Asset Management Inc increased its holdings in Osisko Gold Royalties by 5.5% in the 2nd quarter. CIBC Asset Management Inc now owns 2,644,479 shares of the basic materials company's stock valued at $41,186,000 after purchasing an additional 136,705 shares during the last quarter. 68.52% of the stock is owned by institutional investors.

Osisko Gold Royalties Price Performance

NYSE:OR traded up $0.09 during mid-day trading on Wednesday, reaching $19.84. 369,250 shares of the company were exchanged, compared to its average volume of 748,373. The stock has a market cap of $3.70 billion, a PE ratio of -93.98 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 fifty day moving average of $19.30 and a 200 day moving average of $17.63. Osisko Gold Royalties Ltd has a 12 month low of $12.77 and a 12 month high of $21.29.

Osisko Gold Royalties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.048 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.19 dividend on an annualized basis and a dividend yield of 0.97%. This is a positive change from Osisko Gold Royalties's previous quarterly dividend of $0.05. Osisko Gold Royalties's dividend payout ratio (DPR) is -90.48%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Osisko Gold Royalties from $21.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, September 10th. TD Securities lowered Osisko Gold Royalties from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 11th. 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. Finally, TD Cowen lowered Osisko Gold Royalties from a "buy" rating to a "hold" rating in a research report on Monday, November 11th.

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.