Brokerages Set Gold Royalty Corp. (NYSE:GROY) Target Price at $5.68

Shares of Gold Royalty Corp. (NYSE:GROY) have been given a consensus recommendation of “Buy” by the eight brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $5.6786.

Several equities research analysts have commented on the company. BMO Capital Markets reiterated an “outperform” rating and set a $4.75 price objective on shares of Gold Royalty in a research note on Tuesday, December 9th. Zacks Research upgraded Gold Royalty from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. National Bank Financial reissued an “outperform” rating and issued a $5.50 price objective on shares of Gold Royalty in a research note on Wednesday, December 10th. Scotiabank lifted their target price 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. Finally, Maxim Group set a $7.00 target price on shares of Gold Royalty in a report on Friday, January 23rd.

Institutional Investors Weigh In On Gold Royalty

A number of large investors have recently made changes to their positions in GROY. Caitong International Asset Management Co. Ltd lifted its position in 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 worth $29,000 after buying an additional 7,276 shares in the last quarter. Pacifica Partners Inc. acquired a new stake in shares of Gold Royalty in the 3rd quarter worth $32,000. SevenBridge Financial Group LLC purchased a new position in shares of Gold Royalty during the 4th quarter worth $40,000. Aptus Capital Advisors LLC acquired a new position in shares of Gold Royalty during the 4th quarter valued at about $40,000. Finally, Leigh Baldwin & CO. LLC purchased a new stake in shares of Gold Royalty in the fourth quarter valued at about $41,000. 33.75% of the stock is currently owned by hedge funds and other institutional investors.

Gold Royalty Stock Up 3.6%

GROY stock opened at $4.27 on Thursday. Gold Royalty has a 52 week low of $1.23 and a 52 week high of $5.45. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.09. The firm has a 50-day simple moving average of $4.40 and a 200-day simple moving average of $3.89. The stock has a market capitalization of $939.36 million, a P/E ratio of -32.85 and a beta of 0.98.

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.