Osisko Gold Royalties Ltd (OR) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Osisko Gold Royalties Ltd (NYSE:OR) from a hold rating to a sell rating in a research note released on Wednesday morning.

According to Zacks, “Osisko Gold Ltd is a mining company which is engaged in exploration and mining for gold and other precious metals. Osisko Gold Ltd is headquartered in Montreal, Canada. “

Osisko Gold Royalties (NYSE:OR) opened at 11.30 on Wednesday. The firm has a 50-day moving average of $11.19 and a 200 day moving average of $10.60. The company has a market capitalization of $1.20 billion and a P/E ratio of 41.54. Osisko Gold Royalties has a 52-week low of $8.88 and a 52-week high of $14.74.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be given a $0.0297 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Wednesday, March 29th. Osisko Gold Royalties’s payout ratio is currently 42.86%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Sprott Inc. purchased a new position in shares of Osisko Gold Royalties during the third quarter worth about $854,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Osisko Gold Royalties during the third quarter worth about $14,178,000. TD Asset Management Inc. purchased a new position in shares of Osisko Gold Royalties during the third quarter worth about $7,753,000. CIBC World Markets Inc. purchased a new position in shares of Osisko Gold Royalties during the third quarter worth about $543,000. Finally, Cidel Asset Management Inc. purchased a new position in shares of Osisko Gold Royalties during the third quarter worth about $429,000. 59.18% of the stock is currently owned by hedge funds and other institutional investors.

5 Day Chart for NYSE:OR

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