Gold Royalty’s (GROY) “Hold” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their hold rating on shares of Gold Royalty (NYSE:GROY) in a research note published on Thursday morning, Marketbeat reports. The firm currently has a $5.00 target price on the stock, up from their prior target price of $4.50.

Several other research analysts also recently commented on the company. Zacks Research upgraded Gold Royalty from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $4.75 target price on shares of Gold Royalty in a research note on Tuesday, December 9th. Scotiabank set a $5.00 price objective on Gold Royalty and gave the stock an “outperform” rating in a report on Friday, December 12th. HC Wainwright lifted their target price on shares of Gold Royalty from $6.25 to $7.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Finally, National Bankshares reiterated an “outperform” rating and issued a $5.50 price target on shares of Gold Royalty in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $5.54.

Gold Royalty Stock Performance

NYSE:GROY opened at $4.79 on Thursday. The company has a market capitalization of $945.98 million, a price-to-earnings ratio of -36.85 and a beta of 0.98. The business has a 50 day moving average of $4.23 and a 200 day moving average of $3.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.63 and a quick ratio of 1.63. Gold Royalty has a 1-year low of $1.20 and a 1-year high of $5.45.

Hedge Funds Weigh In On Gold Royalty

Several large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its position in shares of Gold Royalty by 68.0% in the second quarter. Geneos Wealth Management Inc. now owns 16,800 shares of the company’s stock valued at $37,000 after acquiring an additional 6,800 shares in the last quarter. Pacifica Partners Inc. bought a new stake in shares of Gold Royalty in the 3rd quarter valued at approximately $32,000. ORG Wealth Partners LLC boosted its stake in Gold Royalty by 232.6% during the fourth quarter. ORG Wealth Partners LLC now owns 16,631 shares of the company’s stock worth $67,000 after buying an additional 11,631 shares during the period. Raymond James Financial Inc. grew its holdings in Gold Royalty by 1,190.4% during the 3rd 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 during the last quarter. Finally, TD Waterhouse Canada Inc. bought a new position in shares of Gold Royalty during the third quarter valued at approximately $54,000. Hedge funds and other institutional investors own 33.75% of the company’s stock.

Gold Royalty Company Profile

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.