TD Securities Begins Coverage on Gold Royalty (NYSEAMERICAN:GROY)

Key Points

• TD Securities initiated coverage of Gold Royalty with a “buy” rating and a $4.00 price target, implying 38.89% upside from the prior close.
• Analyst sentiment is broadly positive: seven analysts rate the stock a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $5.44.
• Gold Royalty reported quarterly EPS of $0.01, in line with estimates, while revenue of $7.93 million fell short of the $8.34 million consensus forecast; institutional investors own 33.75% of the company.

Analysts at TD Securities assumed coverage on shares of Gold Royalty (NYSEAMERICAN:GROY - Get Free Report) in a report released on Thursday, Briefing.com reports. The firm set a "buy" rating and a $4.00 price target on the stock. TD Securities' target price indicates a potential upside of 38.89% from the stock's previous close.

Several other equities analysts have also weighed in on GROY. Scotiabank cut their target price on Gold Royalty from $6.00 to $5.75 and set an "outperform" rating on the stock in a research note on Tuesday, July 14th. HC Wainwright cut their price target on shares of Gold Royalty from $7.75 to $7.00 and set a "buy" rating on the stock in a research report 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. According to MarketBeat, Gold Royalty presently has an average rating of "Moderate Buy" and an average target price of $5.44.

Gold Royalty Stock Performance

GROY opened at $2.88 on Thursday. The company has a fifty day moving average price of $3.17 and a two-hundred day moving average price of $3.15. Gold Royalty has a 52 week low of $2.45 and a 52 week high of $5.45. The firm has a market capitalization of $664.73 million, a PE ratio of 288.29 and a beta of 1.10.

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

Institutional Investors Weigh In On Gold Royalty

Several large investors have recently modified their holdings of the business. Engineers Gate Manager LP bought a new stake in Gold Royalty during the 2nd quarter worth approximately $136,000. Groupe la Francaise raised its holdings 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 buying an additional 100,000 shares during the period. AXQ Capital LP bought a new position in Gold Royalty in the second quarter valued at approximately $29,000. NINE MASTS CAPITAL Ltd bought a new position in Gold Royalty in the second quarter valued at approximately $77,000. Finally, Prospect Financial Group LLC acquired a new position in shares of Gold Royalty in the second quarter valued at approximately $43,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.