Gold Royalty Corp. (NYSEAMERICAN:GROY) Stock Has Average Price Target of $5.38

Gold Royalty Corp. (NYSEAMERICAN:GROY) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $5.38.

GROY has been the subject of a number of recent analyst reports. Scotiabank cut their price target on shares of Gold Royalty from $6.00 to $5.75 and set an “outperform” rating for the company in a report on Tuesday, July 14th. TD Securities started coverage on Gold Royalty in a research report on Thursday, October 8th. They set a “buy” rating and a $4.00 target price for the company. TD set a $4.00 price target on Gold Royalty and gave the stock a “buy” rating in a report on Thursday, October 8th. Finally, HC Wainwright decreased their price objective on Gold Royalty from $7.75 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 6th.

Gold Royalty Price Performance

Shares of NYSEAMERICAN:GROY opened at $2.83 on Tuesday. The company’s 50-day moving average price is $3.18 and its two-hundred day moving average price is $3.11. The stock has a market capitalization of $653.19 million, a PE ratio of 283.28 and a beta of 1.10. Gold Royalty has a one year low of $2.45 and a one year high of $5.45.

Gold Royalty (NYSEAMERICAN:GROY) last posted its earnings results on Wednesday, August 5th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Gold Royalty had a return on equity of 0.68% and a net margin of 6.65%. The business had revenue of $7.93 million for the quarter, compared to analyst estimates of $8.34 million. On average, analysts anticipate that Gold Royalty will post 0.05 earnings per share for the current fiscal year.

Institutional Trading of Gold Royalty

Hedge funds and other institutional investors have recently bought and sold shares of the company. Amundi grew its holdings in shares of Gold Royalty by 20.0% during the 1st quarter. Amundi now owns 3,000,000 shares of the company’s stock worth $10,740,000 after acquiring an additional 500,000 shares during the period. Renaissance Technologies LLC boosted its position in shares of Gold Royalty by 560.4% in the first quarter. Renaissance Technologies LLC now owns 2,016,825 shares of the company’s stock worth $7,220,000 after purchasing an additional 1,711,425 shares during the period. Groupe la Francaise boosted its position in shares of Gold Royalty by 88.9% during the first quarter. Groupe la Francaise now owns 1,700,000 shares of the company’s stock worth $6,067,000 after acquiring an additional 800,000 shares during the last quarter. U S Global Investors Inc. purchased a new position in Gold Royalty during the 3rd quarter valued at approximately $5,125,000. Finally, Extract Advisors LLC purchased a new position in shares of Gold Royalty in the 1st quarter worth $4,827,000. Hedge funds and other institutional investors own 33.75% of the company’s stock.

Gold Royalty Company Profile

Gold Royalty Corp. is a precious-metals royalty and streaming company focused primarily on gold. Rather than operating mines directly, the company provides capital to mining companies in exchange for royalty interests, streams and other contractual rights tied to future production or revenue from mineral projects.

Gold Royalty’s portfolio includes interests in exploration, development and producing properties, with exposure concentrated in the Americas. Its assets span mining jurisdictions including Canada, the United States, Mexico and other countries in Latin America.