Gold Royalty Corp. (NYSE:GROY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Gold Royalty Corp. (NYSE:GROY) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $5.00.

GROY has been the topic of a number of recent analyst reports. National Bankshares reaffirmed an “outperform” rating and set a $5.50 price target on shares of Gold Royalty in a report on Wednesday, December 10th. Zacks Research downgraded Gold Royalty from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 28th. BMO Capital Markets reiterated an “outperform” rating and set a $4.75 price target on shares of Gold Royalty in a research report on Tuesday, December 9th. Raymond James Financial set a $4.50 price target on Gold Royalty and gave the company an “outperform” rating in a report on Friday, October 10th. Finally, Maxim Group started coverage on shares of Gold Royalty in a research note on Thursday, September 11th. They set a “buy” rating and a $6.00 price objective on the stock.

Gold Royalty Trading Up 1.7%

Gold Royalty stock opened at $4.12 on Wednesday. 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 firm has a 50-day moving average price of $3.85 and a two-hundred day moving average price of $3.36. The firm has a market capitalization of $813.66 million, a price-to-earnings ratio of -31.69 and a beta of 0.97. Gold Royalty has a 52-week low of $1.18 and a 52-week high of $4.49.

Institutional Investors Weigh In On Gold Royalty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amundi boosted its stake in Gold Royalty by 300.0% during the 2nd quarter. Amundi now owns 2,000,000 shares of the company’s stock valued at $4,520,000 after purchasing an additional 1,500,000 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Gold Royalty by 46.2% during the third quarter. JPMorgan Chase & Co. now owns 1,523,522 shares of the company’s stock valued at $5,881,000 after buying an additional 481,381 shares in the last quarter. Two Sigma Investments LP grew its holdings in Gold Royalty by 11.6% during the third quarter. Two Sigma Investments LP now owns 1,400,411 shares of the company’s stock worth $5,406,000 after acquiring an additional 145,222 shares during the period. Acuitas Investments LLC bought a new stake in Gold Royalty in the third quarter worth about $3,014,000. Finally, Groupe la Francaise lifted its holdings in Gold Royalty by 594.7% in the 2nd quarter. Groupe la Francaise now owns 600,000 shares of the company’s stock valued at $1,320,000 after acquiring an additional 513,636 shares during the last quarter. Institutional investors own 33.75% of the company’s stock.

About Gold Royalty

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.