Gold Royalty (NYSE:GROY) Research Coverage Started at Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Gold Royalty (NYSE:GROY) in a research report released on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $3.00 price objective on the stock.

Gold Royalty Trading Up 0.4%

Shares of NYSE GROY opened at $2.29 on Wednesday. The company’s 50 day simple moving average is $1.69 and its 200 day simple moving average is $1.45. Gold Royalty has a fifty-two week low of $1.16 and a fifty-two week high of $2.35. The firm has a market capitalization of $390.38 million, a P/E ratio of -17.62 and a beta of 0.88. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.63 and a quick ratio of 1.63.

Institutional Investors Weigh In On Gold Royalty

Several large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its position in shares of 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 in the last quarter. Amundi bought a new position in Gold Royalty in the first quarter valued at $695,000. Groupe la Francaise bought a new position in Gold Royalty in the first quarter valued at $129,000. Zazove Associates LLC grew its position in Gold Royalty by 42.8% in the first quarter. Zazove Associates LLC now owns 629,758 shares of the company’s stock valued at $907,000 after purchasing an additional 188,758 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Gold Royalty in the first quarter valued at $91,000. Institutional investors own 33.75% of the company’s stock.

About Gold Royalty

Gold Royalty Corp., a precious metals-focused royalty company, provides financing solutions to the metals and mining industry. It focuses on acquiring royalties, streams, and similar interests at varying stages of the mine life cycle to build a portfolio offering near, medium, and longer-term returns for its investors.