Connor Clark & Lunn Investment Management Ltd. Has $56.04 Million Stock Position in Osisko Gold Royalties Ltd (NYSE:OR)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Osisko Gold Royalties Ltd (NYSE:OR) by 26.0% during the third quarter, Holdings Channel.com reports. The fund owned 3,026,171 shares of the basic materials company’s stock after selling 1,061,153 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Osisko Gold Royalties were worth $56,044,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OR. EverSource Wealth Advisors LLC increased its holdings in shares of Osisko Gold Royalties by 125.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,645 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 916 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Osisko Gold Royalties in the 3rd quarter worth about $58,000. Point72 DIFC Ltd purchased a new stake in shares of Osisko Gold Royalties during the second quarter valued at approximately $71,000. US Bancorp DE increased its position in shares of Osisko Gold Royalties by 32.1% during the 3rd quarter. US Bancorp DE now owns 10,629 shares of the basic materials company’s stock valued at $197,000 after purchasing an additional 2,584 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Osisko Gold Royalties in the second quarter worth about $211,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OR. Royal Bank of Canada dropped their price target on Osisko Gold Royalties from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. Jefferies Financial Group raised their price objective on shares of Osisko Gold Royalties from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, October 4th. TD Securities cut shares of Osisko Gold Royalties from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, TD Cowen downgraded Osisko Gold Royalties from a “buy” rating to a “hold” rating in a research report on Monday, November 11th.

Osisko Gold Royalties Trading Up 3.0 %

Shares of Osisko Gold Royalties stock opened at $19.74 on Wednesday. The company’s 50-day moving average price is $19.30 and its 200-day moving average price is $17.63. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 0.05. Osisko Gold Royalties Ltd has a 12-month low of $12.20 and a 12-month high of $21.29. The company has a market cap of $3.68 billion, a price-to-earnings ratio of -93.98 and a beta of 1.03.

Osisko Gold Royalties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.048 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from Osisko Gold Royalties’s previous quarterly dividend of $0.05. This represents a $0.19 annualized dividend and a yield of 0.97%. 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.