Gold Royalty Corp. (NYSEAMERICAN:GROY) Stock Has Consensus Price Target of $5.38 According to Analysts

Gold Royalty Corp. (NYSEAMERICAN:GROY) has earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $5.38.

Several brokerages recently commented on GROY. HC Wainwright cut their price objective on shares of Gold Royalty from $7.75 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. TD Securities began coverage on shares of Gold Royalty in a report on Thursday, October 8th. They issued a “buy” rating and a $4.00 price objective for the company. TD set a $4.00 price objective on Gold Royalty and gave the company a “buy” rating in a research report on Thursday, October 8th. Finally, Scotiabank lowered their price target on Gold Royalty from $6.00 to $5.75 and set an “outperform” rating on the stock in a report on Tuesday, July 14th.

Gold Royalty Trading Down 6.0%

Gold Royalty stock opened at $2.84 on Tuesday. The business’s fifty day simple moving average is $3.18 and its two-hundred day simple moving average is $3.12. Gold Royalty has a 12 month low of $2.45 and a 12 month high of $5.45. The company has a market capitalization of $655.50 million, a price-to-earnings ratio of 284.28 and a beta of 1.10.

Gold Royalty (NYSEAMERICAN:GROY) last released its earnings results on Wednesday, August 5th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $7.93 million for the quarter, compared to analysts’ expectations of $8.34 million. Gold Royalty had a return on equity of 0.68% and a net margin of 6.65%. On average, equities research analysts predict that Gold Royalty will post 0.05 EPS for the current year.

Hedge Funds Weigh In On Gold Royalty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its position in Gold Royalty by 560.4% in the 1st quarter. Renaissance Technologies LLC now owns 2,016,825 shares of the company’s stock worth $7,220,000 after purchasing an additional 1,711,425 shares during the period. U S Global Investors Inc. bought a new position in shares of Gold Royalty during the 3rd quarter valued at $5,125,000. Extract Advisors LLC bought a new position in shares of Gold Royalty during the 1st quarter valued at $4,827,000. Groupe la Francaise boosted its stake in shares of Gold Royalty by 88.9% in the 1st quarter. Groupe la Francaise now owns 1,700,000 shares of the company’s stock worth $6,067,000 after buying an additional 800,000 shares during the last quarter. Finally, Amundi boosted its stake in shares of Gold Royalty by 20.0% in the 1st quarter. Amundi now owns 3,000,000 shares of the company’s stock worth $10,740,000 after buying an additional 500,000 shares during the last quarter. Institutional investors own 33.75% of the company’s stock.

About Gold Royalty

Gold Royalty Corp. is a precious-metals royalty and streaming company focused primarily on gold. Rather than operating mines directly, the company provides capital to mining companies in exchange for royalty interests, streams and other contractual rights tied to future production or revenue from mineral projects.

Gold Royalty’s portfolio includes interests in exploration, development and producing properties, with exposure concentrated in the Americas. Its assets span mining jurisdictions including Canada, the United States, Mexico and other countries in Latin America.