Brokerages Set Gold Royalty Corp. (NYSE:GROY) Price Target at $5.11

Shares of Gold Royalty Corp. (NYSE:GROY) have been assigned a consensus rating of “Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $5.5357.

Several analysts have commented on the stock. National Bankshares reiterated an “outperform” rating and set a $5.50 target price on shares of Gold Royalty in a research report on Wednesday, December 10th. Raymond James Financial set a $4.50 price objective on Gold Royalty and gave the company an “outperform” rating in a report on Friday, October 10th. Scotiabank set a $5.00 target price on Gold Royalty and gave the stock an “outperform” rating in a report on Friday, December 12th. Zacks Research upgraded Gold Royalty from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Finally, HC Wainwright increased their price target on shares of Gold Royalty from $6.25 to $7.00 and gave the company a “buy” rating in a research report on Thursday, January 15th.

Hedge Funds Weigh In On Gold Royalty

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWA Asset Management Group LLC bought a new stake in shares of Gold Royalty in the 4th quarter valued at $15,928,000. Amundi grew its stake in Gold Royalty by 300.0% in the second quarter. Amundi now owns 2,000,000 shares of the company’s stock valued at $4,520,000 after acquiring an additional 1,500,000 shares during the period. JPMorgan Chase & Co. grew its stake in Gold Royalty by 1,918.6% in the second quarter. JPMorgan Chase & Co. now owns 1,042,141 shares of the company’s stock valued at $2,303,000 after acquiring an additional 990,515 shares during the period. Acuitas Investments LLC acquired a new stake in shares of Gold Royalty during the third quarter worth about $3,014,000. Finally, Groupe la Francaise lifted its holdings in shares of Gold Royalty by 594.7% during the 2nd quarter. Groupe la Francaise now owns 600,000 shares of the company’s stock valued at $1,320,000 after purchasing an additional 513,636 shares in the last quarter. 33.75% of the stock is owned by institutional investors.

Gold Royalty Trading Down 2.8%

GROY opened at $4.79 on Friday. The firm has a 50 day simple moving average of $4.23 and a 200 day simple moving average of $3.65. Gold Royalty has a fifty-two week low of $1.20 and a fifty-two week high of $5.45. The company has a market cap of $945.98 million, a price-to-earnings ratio of -36.85 and a beta of 0.98. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.63 and a quick ratio of 1.63.

About Gold Royalty

Gold Royalty Corp (NYSE: GROY) is a precious metals-focused royalty and streaming company with a dedicated emphasis on gold. Through the acquisition and management of royalty, stream, and similar interests, the company gains exposure to a diversified portfolio of producing mines, advanced-stage development projects, and exploration assets. By taking a passive owner role, Gold Royalty receives a share of production or revenue from its partner operators without bearing the full costs and risks of mine development.

The company’s business model centers on securing cash flows from producing assets while simultaneously pursuing growth via royalties on projects at earlier stages.