Osisko Gold Royalties Ltd (NYSE:OR) Stake Reduced by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. lessened its position in shares of Osisko Gold Royalties Ltd (NYSE:OR - Free Report) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,390,912 shares of the basic materials company's stock after selling 337,222 shares during the period. Osisko Gold Royalties comprises 3.2% of EdgePoint Investment Group Inc.'s portfolio, making the stock its 14th largest position. EdgePoint Investment Group Inc. owned 13.10% of Osisko Gold Royalties worth $380,161,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in OR. Price T Rowe Associates Inc. MD bought a new stake in shares of Osisko Gold Royalties during the 1st quarter valued at about $109,825,000. Bornite Capital Management LP acquired a new stake in shares of Osisko Gold Royalties during the 1st quarter worth approximately $33,370,000. Norges Bank bought a new stake in shares of Osisko Gold Royalties in the 4th quarter worth approximately $18,728,000. Yaupon Capital Management LP acquired a new position in Osisko Gold Royalties during the 1st quarter valued at approximately $15,973,000. Finally, Van ECK Associates Corp grew its stake in Osisko Gold Royalties by 3.7% during the 1st quarter. Van ECK Associates Corp now owns 21,012,286 shares of the basic materials company's stock worth $345,021,000 after buying an additional 745,973 shares during the last quarter. Institutional investors and hedge funds own 68.52% of the company's stock.

Analysts Set New Price Targets

OR has been the topic of a number of recent research reports. Royal Bank of Canada cut their target price on Osisko Gold Royalties from $21.00 to $20.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 10th. Jefferies Financial Group upgraded shares of Osisko Gold Royalties from a "hold" rating to a "buy" rating and set a $19.00 price objective on the stock in a research report on Friday, July 12th. Finally, TD Securities upgraded shares of Osisko Gold Royalties to a "strong-buy" rating in a research report on Monday, July 22nd.

Osisko Gold Royalties Stock Performance

OR stock traded up $0.34 during trading on Thursday, reaching $18.99. 677,142 shares of the company's stock were exchanged, compared to its average volume of 767,636. Osisko Gold Royalties Ltd has a 1-year low of $11.24 and a 1-year high of $19.03. The firm has a market cap of $3.54 billion, a PE ratio of -90.43 and a beta of 1.03. The company's fifty day moving average price is $17.38 and its 200-day moving average price is $16.62. The company has a quick ratio of 4.92, a current ratio of 4.92 and a debt-to-equity ratio of 0.07.

Osisko Gold Royalties (NYSE:OR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $47.39 million during the quarter. Osisko Gold Royalties had a negative net margin of 36.71% and a positive return on equity of 6.80%. On average, research analysts expect that Osisko Gold Royalties Ltd will post 0.47 EPS for the current fiscal year.

Osisko Gold Royalties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.047 dividend. This represents a $0.19 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Monday, September 30th. Osisko Gold Royalties's dividend payout ratio (DPR) is presently -90.48%.

About Osisko Gold Royalties

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.