Stock Traders Buy Large Volume of Call Options on Gold Royalty (NYSE:GROY)

Gold Royalty Corp. (NYSE:GROY) was the recipient of some unusual options trading activity on Friday. Investors bought 9,588 call options on the company. This is an increase of approximately 415% compared to the average daily volume of 1,862 call options.

Hedge Funds Weigh In On Gold Royalty

A number of hedge funds and other institutional investors have recently made changes to their positions in GROY. Pacifica Partners Inc. bought a new stake in shares of Gold Royalty in the third quarter valued at about $32,000. Geneos Wealth Management Inc. raised its holdings in shares of Gold Royalty by 68.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 16,800 shares of the company’s stock valued at $37,000 after purchasing an additional 6,800 shares in the last quarter. PFG Investments LLC purchased a new stake in shares of Gold Royalty in the 2nd quarter worth approximately $43,000. Walleye Capital LLC purchased a new stake in shares of Gold Royalty in the 2nd quarter worth approximately $44,000. Finally, Raymond James Financial Inc. boosted its stake in shares of Gold Royalty by 1,190.4% during the third quarter. Raymond James Financial Inc. now owns 12,917 shares of the company’s stock valued at $50,000 after purchasing an additional 11,916 shares in the last quarter. Institutional investors own 33.75% of the company’s stock.

Gold Royalty Trading Up 10.9%

GROY traded up $0.44 during trading hours on Friday, reaching $4.42. 3,203,432 shares of the company’s stock traded hands, compared to its average volume of 2,125,819. The firm has a 50-day moving average price of $3.68 and a 200 day moving average price of $2.97. The firm has a market capitalization of $752.63 million, a PE ratio of -34.04 and a beta of 0.99. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.09. Gold Royalty has a 52-week low of $1.16 and a 52-week high of $4.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GROY shares. Zacks Research upgraded Gold Royalty from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Scotiabank boosted their target price on Gold Royalty from $3.30 to $4.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Maxim Group started coverage on Gold Royalty in a report on Thursday, September 11th. They set a “buy” rating and a $6.00 price target on the stock. HC Wainwright lifted their price objective on shares of Gold Royalty from $5.75 to $6.25 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Finally, Raymond James Financial set a $4.50 price objective on shares of Gold Royalty and gave the company an “outperform” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to MarketBeat.com, Gold Royalty currently has an average rating of “Buy” and a consensus price target of $4.75.

Gold Royalty Company Profile

Gold Royalty Corp., a precious metals-focused royalty company, provides financing solutions to the metals and mining industry. It focuses on acquiring royalties, streams, and similar interests at varying stages of the mine life cycle to build a portfolio offering near, medium, and longer-term returns for its investors.