Osisko Gold Royalties (NYSE:OR) Given New $24.00 Price Target at Royal Bank of Canada

Osisko Gold Royalties (NYSE:OR - Free Report) had its price objective hoisted by Royal Bank of Canada from $23.00 to $24.00 in a research report released on Tuesday morning,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the basic materials company's stock.

Several other research firms have also recently issued reports on OR. TD Cowen cut Osisko Gold Royalties from a "buy" rating to a "hold" rating in a report on Monday, November 11th. TD Securities lowered Osisko Gold Royalties from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 11th.

Osisko Gold Royalties Trading Down 3.7 %

Shares of OR stock traded down $0.75 during mid-day trading on Tuesday, hitting $19.68. 646,510 shares of the company's stock were exchanged, compared to its average volume of 548,752. Osisko Gold Royalties has a fifty-two week low of $12.77 and a fifty-two week high of $21.29. The stock has a 50-day simple moving average of $18.88 and a two-hundred day simple moving average of $18.68. 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 stock has a market cap of $3.67 billion, a price-to-earnings ratio of -93.70 and a beta of 1.02.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Fiera Capital Corp raised its position in shares of Osisko Gold Royalties by 3.7% in the 3rd quarter. Fiera Capital Corp now owns 762,075 shares of the basic materials company's stock worth $14,133,000 after buying an additional 26,917 shares during the period. Polar Asset Management Partners Inc. purchased a new position in Osisko Gold Royalties in the third quarter valued at about $746,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Osisko Gold Royalties by 45.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 420,462 shares of the basic materials company's stock valued at $7,783,000 after purchasing an additional 131,558 shares during the period. Principal Financial Group Inc. raised its position in Osisko Gold Royalties by 5.7% in the third quarter. Principal Financial Group Inc. now owns 1,527,110 shares of the basic materials company's stock valued at $28,316,000 after purchasing an additional 82,150 shares during the period. Finally, Anson Funds Management LP raised its position in Osisko Gold Royalties by 64.3% in the third quarter. Anson Funds Management LP now owns 217,700 shares of the basic materials company's stock valued at $4,032,000 after purchasing an additional 85,200 shares during the period. 68.52% of the stock is owned by hedge funds and other 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.