Gold Royalty (NYSEAMERICAN:GROY) Shares Up 3.5% – Here’s What Happened

Gold Royalty Corp. (NYSEAMERICAN:GROY) shares shot up 3.5% on Monday . The company traded as high as $3.10 and last traded at $2.98. 2,003,283 shares were traded during mid-day trading, an increase of 15% from the average session volume of 1,748,511 shares. The stock had previously closed at $2.88.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GROY. Zacks Research downgraded Gold Royalty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Canaccord Genuity Group upgraded Gold Royalty from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Wednesday, April 29th. Finally, HC Wainwright increased their price objective on Gold Royalty from $6.75 to $7.75 and gave the stock a “buy” rating in a report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.79.

Gold Royalty Price Performance

The business has a fifty day moving average of $3.35 and a 200 day moving average of $3.91. The stock has a market cap of $671.66 million, a price-to-earnings ratio of -17.12 and a beta of 0.91.

Gold Royalty (NYSEAMERICAN:GROY) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Gold Royalty had a positive return on equity of 0.44% and a negative net margin of 5.65%.The firm had revenue of $9.36 million for the quarter, compared to the consensus estimate of $7.94 million. On average, analysts expect that Gold Royalty Corp. will post 0.05 EPS for the current year.

Hedge Funds Weigh In On Gold Royalty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GROY. Amundi acquired a new position in Gold Royalty during the first quarter valued at approximately $695,000. 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 valued at $143,000 after purchasing an additional 58,172 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Gold Royalty by 1,918.6% during the second quarter. JPMorgan Chase & Co. now owns 1,042,141 shares of the company’s stock valued at $2,303,000 after purchasing an additional 990,515 shares during the last quarter. Quantbot Technologies LP acquired a new position in Gold Royalty during the second quarter valued at approximately $406,000. Finally, Walleye Capital LLC acquired a new position in Gold Royalty during the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 33.75% of the company’s stock.

About Gold Royalty

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.