TD Reiterates $4.00 Price Target for Gold Royalty (NYSEAMERICAN:GROY)

Gold Royalty (NYSEAMERICAN:GROY) has been assigned a $4.00 price objective by TD in a research note issued to investors on Thursday, BayStreet reports. The firm presently has a “buy” rating on the stock. TD’s target price indicates a potential upside of 33.11% from the company’s current price.

A number of other brokerages also recently commented on GROY. HC Wainwright reduced their price objective on shares of Gold Royalty from $7.75 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Scotiabank dropped their target price on Gold Royalty from $6.00 to $5.75 and set an “outperform” rating on the stock in a research report on Tuesday, July 14th. Finally, TD Securities began coverage on Gold Royalty in a research note on Thursday. They set a “buy” rating and a $4.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.28.

Gold Royalty Stock Performance

GROY traded up $0.12 during trading on Thursday, hitting $3.00. The stock had a trading volume of 948,735 shares, compared to its average volume of 2,437,983. The firm has a market capitalization of $693.58 million, a P/E ratio of 300.80 and a beta of 1.10. The company’s 50-day moving average price is $3.17 and its 200 day moving average price is $3.15. Gold Royalty has a twelve month low of $2.45 and a twelve month high of $5.45.

Gold Royalty (NYSEAMERICAN:GROY) last released its earnings results on Wednesday, August 5th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $7.93 million during the quarter, compared to analysts’ expectations of $8.34 million. Gold Royalty had a net margin of 6.65% and a return on equity of 0.68%. As a group, equities analysts expect that Gold Royalty will post 0.05 earnings per share for the current fiscal year.

Institutional Trading of Gold Royalty

A number of institutional investors have recently added to or reduced their stakes in GROY. AXQ Capital LP purchased a new position in Gold Royalty in the second quarter valued at about $29,000. Kestra Advisory Services LLC boosted its stake in shares of Gold Royalty by 118.8% during the 1st quarter. Kestra Advisory Services LLC now owns 10,939 shares of the company’s stock worth $39,000 after acquiring an additional 5,939 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Gold Royalty in the 1st quarter worth approximately $40,000. Prospect Financial Group LLC acquired a new stake in shares of Gold Royalty in the 2nd quarter worth approximately $43,000. Finally, First Trust Advisors LP purchased a new position in Gold Royalty in the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 33.75% of the company’s stock.

About Gold Royalty

Gold Royalty Corp. (NYSE American: GROY) is a precious metals royalty and streaming company focused primarily on gold assets. Rather than operating mines directly, the company provides capital or acquires interests in mining projects in exchange for royalty payments, metal streams or other contractual interests tied to future production.

Gold Royalty’s portfolio includes royalties and similar interests on exploration, development and producing properties. Its assets are located mainly in the Americas, including Canada, the United States and Latin America, and provide exposure to a range of gold projects operated by third-party mining companies.