Gold Royalty (NYSE:GROY) Upgraded at Zacks Research

Gold Royalty (NYSE:GROY) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on GROY. BMO Capital Markets reaffirmed an “outperform” rating and set a $4.75 price target on shares of Gold Royalty in a report on Tuesday, December 9th. National Bankshares restated an “outperform” rating and issued a $5.50 target price on shares of Gold Royalty in a research report on Wednesday, December 10th. Scotiabank set a $5.00 price target on Gold Royalty and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, Raymond James Financial set a $4.50 price target on Gold Royalty and gave the stock an “outperform” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $5.00.

Gold Royalty Trading Up 2.1%

Shares of NYSE:GROY opened at $4.78 on Monday. 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 company’s 50-day moving average price is $4.00 and its 200 day moving average price is $3.51. The company has a market cap of $944.01 million, a PE ratio of -36.77 and a beta of 0.98. Gold Royalty has a fifty-two week low of $1.20 and a fifty-two week high of $4.82.

Hedge Funds Weigh In On Gold Royalty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Groupe la Francaise raised its stake in shares of Gold Royalty by 594.7% in the 2nd quarter. Groupe la Francaise now owns 600,000 shares of the company’s stock worth $1,320,000 after buying an additional 513,636 shares in the last quarter. XTX Topco Ltd boosted its stake in Gold Royalty by 496.9% during the second quarter. XTX Topco Ltd now owns 377,394 shares of the company’s stock valued at $834,000 after buying an additional 314,170 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Gold Royalty by 140.7% during the first quarter. Goldman Sachs Group Inc. now owns 99,504 shares of the company’s stock worth $143,000 after acquiring an additional 58,172 shares during the period. Quadrature Capital Ltd raised its position in Gold Royalty by 257.9% in the second quarter. Quadrature Capital Ltd now owns 177,498 shares of the company’s stock worth $393,000 after acquiring an additional 127,904 shares in the last quarter. Finally, PFG Investments LLC bought a new stake in Gold Royalty in the second quarter worth about $43,000. 33.75% of the stock is owned by institutional investors.

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.