Gold Royalty (NYSEAMERICAN:GROY) Research Coverage Started at TD Securities

TD Securities began coverage on shares of Gold Royalty (NYSEAMERICAN:GROY) in a research note released on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $4.00 price objective on the stock.

A number of other brokerages also recently issued reports on GROY. Scotiabank reduced their price objective on shares of Gold Royalty from $6.00 to $5.75 and set an “outperform” rating for the company in a research report on Tuesday, July 14th. HC Wainwright cut their target price on Gold Royalty from $7.75 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.38.

Gold Royalty Price Performance

GROY opened at $3.08 on Thursday. Gold Royalty has a 1 year low of $2.45 and a 1 year high of $5.45. The company has a market capitalization of $710.89 million, a price-to-earnings ratio of 308.31 and a beta of 1.10. The firm’s fifty day moving average price is $3.19 and its two-hundred day moving average price is $3.15.

Gold Royalty (NYSEAMERICAN:GROY) last announced its earnings results on Wednesday, August 5th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Gold Royalty had a net margin of 6.65% and a return on equity of 0.68%. The company had revenue of $7.93 million during the quarter, compared to the consensus estimate of $8.34 million. As a group, equities analysts anticipate that Gold Royalty will post 0.05 EPS for the current year.

Institutional Investors Weigh In On Gold Royalty

A number of hedge funds have recently made changes to their positions in GROY. Renaissance Technologies LLC grew its position in Gold Royalty by 560.4% during the first quarter. Renaissance Technologies LLC now owns 2,016,825 shares of the company’s stock valued at $7,220,000 after buying an additional 1,711,425 shares during the period. Extract Advisors LLC bought a new stake in Gold Royalty in the first quarter worth about $4,827,000. Groupe la Francaise raised its position in Gold Royalty by 88.9% in the first quarter. Groupe la Francaise now owns 1,700,000 shares of the company’s stock worth $6,067,000 after acquiring an additional 800,000 shares during the period. Amundi raised its position in Gold Royalty by 20.0% in the first quarter. Amundi now owns 3,000,000 shares of the company’s stock worth $10,740,000 after acquiring an additional 500,000 shares during the period. Finally, Engineers Gate Manager LP purchased a new position in Gold Royalty in the second quarter valued at about $136,000. 33.75% of the stock is currently owned by institutional investors.

Gold Royalty Company Profile

Gold Royalty Corp. (NYSE American: GROY) is a precious metals royalty and streaming company focused primarily on gold assets. Rather than operating mines directly, the company provides capital or acquires interests in mining projects in exchange for royalty payments, metal streams or other contractual interests tied to future production.

Gold Royalty’s portfolio includes royalties and similar interests on exploration, development and producing properties. Its assets are located mainly in the Americas, including Canada, the United States and Latin America, and provide exposure to a range of gold projects operated by third-party mining companies.