Gold Royalty (NYSEAMERICAN:GROY) Announces Quarterly Earnings Results

Gold Royalty (NYSEAMERICAN:GROY) announced its quarterly earnings results on Wednesday. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02, Zacks reports. Gold Royalty had a net margin of 6.65% and a return on equity of 0.68%. The business had revenue of $10.25 million for the quarter, compared to analysts’ expectations of $8.87 million.

Gold Royalty Price Performance

Shares of Gold Royalty stock traded up $0.15 during trading hours on Thursday, reaching $3.04. The company’s stock had a trading volume of 2,146,733 shares, compared to its average volume of 2,337,889. The firm has a 50 day moving average price of $3.09 and a 200-day moving average price of $3.39. The stock has a market cap of $702.82 million, a P/E ratio of 304.80 and a beta of 1.15. Gold Royalty has a one year low of $2.45 and a one year high of $5.45.

Analysts Set New Price Targets

GROY has been the topic of several research reports. TD Securities initiated coverage on Gold Royalty in a report on Thursday, October 8th. They issued a “buy” rating and a $4.00 target price on the stock. Scotiabank cut their price target on Gold Royalty from $6.00 to $5.75 and set an “outperform” rating for the company in a report on Tuesday, July 14th. TD set a $4.00 price objective on Gold Royalty and gave the stock a “buy” rating in a research note on Thursday, October 8th. Finally, HC Wainwright decreased their price objective on Gold Royalty from $7.75 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.38.

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.