Gold Royalty (NYSE:GROY) Shares Up 5.8% – Should You Buy?

Shares of Gold Royalty Corp. (NYSE:GROY) shot up 5.8% during trading on Friday . The stock traded as high as $3.95 and last traded at $3.94. 1,476,542 shares changed hands during trading, a decline of 17% from the average session volume of 1,786,941 shares. The stock had previously closed at $3.72.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Scotiabank reiterated an “outperform” rating on shares of Gold Royalty in a research report on Monday, August 11th. Maxim Group began coverage on shares of Gold Royalty in a report on Thursday, September 11th. They issued a “buy” rating and a $6.00 price target for the company. Canaccord Genuity Group initiated coverage on Gold Royalty in a research note on Wednesday, June 11th. They set a “buy” rating and a $3.00 target price for the company. HC Wainwright lifted their target price on Gold Royalty from $5.75 to $6.25 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Finally, National Bankshares reissued an “outperform” rating on shares of Gold Royalty in a report on Wednesday, July 16th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $4.64.

Gold Royalty Trading Up 4.0%

The business has a 50 day moving average price of $3.25 and a 200-day moving average price of $2.31. The company has a market cap of $659.72 million, a P/E ratio of -29.77 and a beta of 0.99. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.09.

Hedge Funds Weigh In On Gold Royalty

A number of institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. raised its stake in shares of Gold Royalty by 68.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 16,800 shares of the company’s stock worth $37,000 after purchasing an additional 6,800 shares in the last quarter. PFG Investments LLC bought a new position in shares of Gold Royalty in the second quarter worth approximately $43,000. Walleye Capital LLC purchased a new stake in shares of Gold Royalty during the 2nd quarter valued at about $44,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Gold Royalty during the second quarter worth $67,000. Finally, WINTON GROUP Ltd acquired a new stake in Gold Royalty during the second quarter worth about $100,000. Institutional investors and hedge funds 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.