Horizon Kinetics Asset Management LLC Increases Holdings in Osisko Gold Royalties Ltd (NYSE:OR)

Horizon Kinetics Asset Management LLC lifted its position in Osisko Gold Royalties Ltd (NYSE:OR) by 19.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,659,922 shares of the basic materials company’s stock after acquiring an additional 267,777 shares during the period. Osisko Gold Royalties accounts for about 0.4% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 27th largest holding. Horizon Kinetics Asset Management LLC owned about 0.89% of Osisko Gold Royalties worth $30,045,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc grew its stake in shares of Osisko Gold Royalties by 21.6% in the 4th quarter. CIBC Asset Management Inc now owns 3,111,398 shares of the basic materials company’s stock worth $56,215,000 after buying an additional 551,936 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Osisko Gold Royalties by 190.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 796,804 shares of the basic materials company’s stock worth $14,766,000 after buying an additional 522,551 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in shares of Osisko Gold Royalties by 53.9% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 965,801 shares of the basic materials company’s stock worth $17,886,000 after buying an additional 338,354 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Osisko Gold Royalties in the 4th quarter worth $2,587,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Osisko Gold Royalties by 45.5% in the 3rd 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 worth $7,783,000 after buying an additional 131,558 shares during the last quarter. Institutional investors own 68.52% of the company’s stock.

Osisko Gold Royalties Price Performance

Shares of Osisko Gold Royalties stock opened at $19.75 on Monday. Osisko Gold Royalties Ltd has a one year low of $15.12 and a one year high of $21.29. The stock’s fifty day moving average is $18.92 and its 200 day moving average is $18.95. The stock has a market cap of $3.69 billion, a P/E ratio of 219.39 and a beta of 0.96. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.40 and a current ratio of 4.40.

Osisko Gold Royalties (NYSE:OR) last announced its earnings results on Wednesday, February 19th. The basic materials company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Osisko Gold Royalties had a return on equity of 7.94% and a net margin of 8.50%. The company had revenue of $56.74 million for the quarter, compared to analysts’ expectations of $68.31 million. Sell-side analysts anticipate that Osisko Gold Royalties Ltd will post 0.62 earnings per share for the current year.

Osisko Gold Royalties Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.0457 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.18 dividend on an annualized basis and a yield of 0.93%. Osisko Gold Royalties’s dividend payout ratio is currently 200.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on Osisko Gold Royalties from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Scotiabank dropped their price target on Osisko Gold Royalties from $31.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.67.

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.