Gold Royalty (NYSEAMERICAN:GROY) Given a $4.00 Price Target at TD

Key Points

• TD initiated coverage of Gold Royalty with a Buy rating and a $4.00 price target, implying approximately 33% upside from the stock’s $3.00 price.
• Analyst sentiment is broadly positive: eight analysts rate the stock Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $5.28.
• Gold Royalty shares rose 4.3% to $3.00, while the company reported quarterly EPS of $0.01 in line with estimates but revenue of $7.93 million below the $8.34 million consensus.

Gold Royalty (NYSEAMERICAN:GROY - Get Free Report) received a $4.00 price objective from equities research analysts at TD in a report released on Thursday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. TD's price objective suggests a potential upside of 33.11% from the company's current price.

GROY has been the topic of a number of other reports. TD Securities assumed coverage on shares of Gold Royalty in a research note on Thursday. They set a "buy" rating and a $4.00 target price on the stock. Scotiabank decreased 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. Finally, HC Wainwright cut their price target 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. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Gold Royalty has a consensus rating of "Moderate Buy" and a consensus price target of $5.28.

Gold Royalty Trading Up 4.3%

NYSEAMERICAN:GROY traded up $0.12 during midday trading on Thursday, reaching $3.00. The company had a trading volume of 948,735 shares, compared to its average volume of 2,437,983. The firm has a market capitalization of $693.58 million, a price-to-earnings ratio of 300.80 and a beta of 1.10. The stock's fifty day simple moving average is $3.17 and its 200-day simple moving average is $3.15. Gold Royalty has a 12-month low of $2.45 and a 12-month high of $5.45.

Gold Royalty (NYSEAMERICAN:GROY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $7.93 million for the quarter, compared to the consensus estimate of $8.34 million. Gold Royalty had a return on equity of 0.68% and a net margin of 6.65%. As a group, sell-side analysts expect that Gold Royalty will post 0.05 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP purchased a new stake in Gold Royalty in the second quarter valued at approximately $136,000. Groupe la Francaise boosted its stake in Gold Royalty by 5.9% during the 2nd quarter. Groupe la Francaise now owns 1,800,000 shares of the company's stock worth $4,972,000 after purchasing an additional 100,000 shares during the period. AXQ Capital LP purchased a new position in Gold Royalty during the 2nd quarter worth $29,000. NINE MASTS CAPITAL Ltd acquired a new position in Gold Royalty in the second quarter valued at $77,000. Finally, Prospect Financial Group LLC purchased a new stake in shares of Gold Royalty in the second quarter valued at about $43,000. Hedge funds and other institutional investors own 33.75% of the company's stock.

About Gold Royalty

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.

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