What is Scotiabank’s Forecast for OR FY2024 Earnings?

Osisko Gold Royalties Ltd (NYSE:OR) – Stock analysts at Scotiabank lifted their FY2024 earnings estimates for Osisko Gold Royalties in a report issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the basic materials company will earn $0.49 per share for the year, up from their prior forecast of $0.48. The consensus estimate for Osisko Gold Royalties’ current full-year earnings is $0.48 per share.

A number of other analysts also recently issued reports on OR. Jefferies Financial Group raised their price target on Osisko Gold Royalties from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. TD Securities cut shares of Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, TD Cowen lowered shares of Osisko Gold Royalties from a “buy” rating to a “hold” rating in a research report on Monday, November 11th.

Osisko Gold Royalties Stock Up 0.3 %

Shares of OR opened at $18.65 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.40 and a quick ratio of 4.40. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -88.81 and a beta of 1.02. Osisko Gold Royalties has a 1 year low of $12.77 and a 1 year high of $21.29. The business’s 50 day simple moving average is $19.07 and its 200-day simple moving average is $18.28.

Institutional Trading of Osisko Gold Royalties

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC raised its position in Osisko Gold Royalties by 12.9% during the second quarter. Renaissance Technologies LLC now owns 239,800 shares of the basic materials company’s stock valued at $3,736,000 after acquiring an additional 27,400 shares in the last quarter. Fiera Capital Corp grew its stake in shares of Osisko Gold Royalties by 3.7% during the 3rd quarter. Fiera Capital Corp now owns 762,075 shares of the basic materials company’s stock worth $14,133,000 after purchasing an additional 26,917 shares during the period. Polar Asset Management Partners Inc. purchased a new position in shares of Osisko Gold Royalties during the 3rd quarter valued at approximately $746,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 valued at $7,783,000 after purchasing an additional 131,558 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of Osisko Gold Royalties by 237.0% in 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 purchasing an additional 1,391,005 shares during the period. 68.52% of the stock is currently owned by institutional investors and hedge funds.

Osisko Gold Royalties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.048 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from Osisko Gold Royalties’s previous quarterly dividend of $0.05. This represents a $0.19 dividend on an annualized basis and a dividend yield of 1.03%. Osisko Gold Royalties’s dividend payout ratio is currently -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.