Equities research analysts at Canaccord Genuity Group initiated coverage on shares of Gold Royalty (NYSE:GROY - Get Free Report) in a report issued on Wednesday, Marketbeat.com reports. The firm set a "buy" rating and a $3.00 price target on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 32.45% from the stock's current price.
Gold Royalty Price Performance
Shares of NYSE:GROY traded up $0.11 during mid-day trading on Wednesday, reaching $2.27. The stock had a trading volume of 1,860,805 shares, compared to its average volume of 1,187,527. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.09. The company has a market cap of $386.11 million, a P/E ratio of -17.42 and a beta of 0.88. Gold Royalty has a 1 year low of $1.16 and a 1 year high of $2.28. The business's 50 day moving average price is $1.65 and its 200 day moving average price is $1.43.
Institutional Trading of Gold Royalty
Hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC grew its holdings in shares of Gold Royalty by 20.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 125,910 shares of the company's stock valued at $152,000 after purchasing an additional 21,717 shares in the last quarter. Total Wealth Planning & Management Inc. purchased a new position in shares of Gold Royalty in the 4th quarter worth $31,000. Marshall Wace LLP increased its holdings in shares of Gold Royalty by 43.7% in the 4th quarter. Marshall Wace LLP now owns 100,963 shares of the company's stock worth $122,000 after buying an additional 30,710 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Gold Royalty during the 4th quarter valued at about $46,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of Gold Royalty during the 4th quarter valued at about $51,000. 33.75% of the stock is owned by hedge funds and other institutional investors.
About Gold Royalty
(
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Gold Royalty Corp., a precious metals-focused royalty company, provides financing solutions to the metals and mining industry. It focuses on acquiring royalties, streams, and similar interests at varying stages of the mine life cycle to build a portfolio offering near, medium, and longer-term returns for its investors.
Further Reading
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