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

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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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.