Osisko Gold Royalties (NYSE:OR) Shares Gap Down - Here's What Happened

Osisko Gold Royalties Ltd (NYSE:OR - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $20.24, but opened at $19.46. Osisko Gold Royalties shares last traded at $19.01, with a volume of 151,798 shares.

Analyst Upgrades and Downgrades

OR has been the subject of several analyst reports. TD Cowen lowered shares of Osisko Gold Royalties from a "buy" rating to a "hold" rating in a research note on Monday. Jefferies Financial Group boosted 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 note on Friday, October 4th. Royal Bank of Canada dropped their price target on Osisko Gold Royalties from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday, September 10th. Finally, TD Securities raised Osisko Gold Royalties to a "strong-buy" rating in a report on Monday, July 22nd.

Osisko Gold Royalties Price Performance

The company has a quick ratio of 4.92, a current ratio of 4.40 and a debt-to-equity ratio of 0.05. The firm's fifty day moving average price is $19.02 and its 200-day moving average price is $17.47. The stock has a market cap of $3.50 billion, a P/E ratio of -89.19 and a beta of 1.03.

Osisko Gold Royalties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.048 per share. This is a positive change from Osisko Gold Royalties's previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, December 31st. This represents a $0.19 dividend on an annualized basis and a yield of 1.02%. Osisko Gold Royalties's dividend payout ratio is presently -90.48%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OR. Price T Rowe Associates Inc. MD purchased a new stake in Osisko Gold Royalties in the first quarter worth about $109,825,000. Bornite Capital Management LP bought a new position in Osisko Gold Royalties during the 1st quarter valued at approximately $33,370,000. Mackenzie Financial Corp increased its position in Osisko Gold Royalties by 237.0% during the 2nd quarter. Mackenzie Financial Corp now owns 1,977,895 shares of the basic materials company's stock valued at $30,827,000 after buying an additional 1,391,005 shares in the last quarter. Millennium Management LLC raised 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 valued at $102,631,000 after buying an additional 1,122,653 shares during the last quarter. Finally, Yaupon Capital Management LP bought a new stake in Osisko Gold Royalties in the first quarter worth $15,973,000. 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.

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