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Is it a Great Time to Take Profits in Your Osisko Gold Royalties (OR) Stake?

Jose Karlo Mari Tottoc
·2 min read

Palm Valley Capital Management, an investment management firm, released its fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, Palm Valley Capital Fund returned 3.86% compared to a 9.19% rise for the S&P SmallCap 600 Index and an 8.05% return for the Morningstar Small Cap Index. A large cash position led the fund to underperform its benchmark index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In its Q3 2022 investor letter, Palm Valley Capital Management mentioned Osisko Gold Royalties Ltd (NYSE:OR) and explained its insights for the company. Founded in (year founded), Osisko Gold Royalties Ltd (NYSE:OR) is a Québec, Canada-based intermediate precious metal royalty company with a $2.5 billion market capitalization. Osisko Gold Royalties Ltd (NYSE:OR) delivered a 13.01% return since the beginning of the year, while its 12-month returns are up by 17.89%. The stock closed at $13.64 per share on January 20, 2023.

Here is what Palm Valley Capital Management has to say about Osisko Gold Royalties Ltd (NYSE:OR) in its Q3 2022 investor letter:

"We did not purchase any new holdings during the fourth quarter. We also meaningfully reduced our weightings in Osisko Gold Royalties Ltd (NYSE:OR) as their stock price approached fair value."

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igorstevanovic/Shutterstock.com

Our calculations show that Osisko Gold Royalties Ltd (NYSE:OR) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Osisko Gold Royalties Ltd (NYSE:OR) was in 20 hedge fund portfolios at the end of the second quarter of 2022, compared to 17 funds in the previous quarter. Osisko Gold Royalties Ltd (NYSE:OR) delivered a 29.90% return in the past 3 months.

In December 2022, we also shared another hedge fund’s views on Osisko Gold Royalties Ltd (NYSE:OR) in 10 Best Gold Stocks with Dividends. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q4 2022 page.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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