Gold Royalty (NYSEAMERICAN:GROY) Upgraded to “Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Gold Royalty (NYSEAMERICAN:GROY) from a hold rating to a buy rating in a report issued on Wednesday morning, Marketbeat.com reports. They currently have $5.00 target price on the stock.

A number of other equities analysts also recently commented on the stock. Zacks Research downgraded shares of Gold Royalty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Scotiabank boosted their price objective on shares of Gold Royalty from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Maxim Group set a $7.00 price objective on shares of Gold Royalty in a research note on Friday, January 23rd. Finally, HC Wainwright reissued a “buy” rating and issued a $6.75 price objective on shares of Gold Royalty in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.64.

Gold Royalty Stock Performance

Gold Royalty stock opened at $3.37 on Wednesday. The company has a 50 day moving average price of $3.83 and a 200-day moving average price of $4.00. Gold Royalty has a fifty-two week low of $1.44 and a fifty-two week high of $5.45. The company has a market capitalization of $777.76 million, a PE ratio of -168.50 and a beta of 1.06.

Institutional Investors Weigh In On Gold Royalty

Large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd grew its holdings in shares of Gold Royalty by 363,800.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,278 shares of the company’s stock valued at $29,000 after buying an additional 7,276 shares during the last quarter. SevenBridge Financial Group LLC acquired a new position in Gold Royalty during the fourth quarter valued at $40,000. Aptus Capital Advisors LLC purchased a new stake in Gold Royalty in the fourth quarter valued at $40,000. Leigh Baldwin & CO. LLC purchased a new stake in Gold Royalty in the fourth quarter valued at $41,000. Finally, Commonwealth Equity Services LLC purchased a new stake in Gold Royalty in the fourth quarter valued at $41,000. 33.75% of the stock is owned by hedge funds and other institutional investors.

Gold Royalty Company Profile

Gold Royalty Corp is a precious metals royalty and streaming company that focuses on acquiring and managing royalty interests in gold, silver and other metal assets. The company provides upfront funding to mining operators in exchange for a percentage of future metal production, offering an alternative financing model that can reduce capital requirements and accelerate development timelines for mining projects.

The firm’s diversified portfolio spans royalty and stream agreements across the Americas, with interests in operating mines, development?stage assets and advanced exploration projects.